Why You Should Contract a Payroll Service

Posted onCategoriesPersonal Finance
tax

 

When you own your own business, it can sometimes be hard to let other people take over tasks you’ve been doing yourself. This is exacerbated if you started out as a sole proprietor and slowly grew to the point of needing a team. If you started out doing everything yourself, whenever you consider hiring someone to take on a task there’s going to be a little voice in the back of your head that says, “Oh come on, I could just do this myself and save the money.”

This is an understandable impulse, but if you persist in this kind of thinking, it will hold your business back from the kind of growth that you could accomplish by outsourcing certain tasks or projects out to others. One terrific example of this is when it comes to doing payroll for your business. In all likelihood, at some point you did some portion of the payroll work yourself, but as your business grows you owe it to yourself to turn this over to people like our experts here at Baker Business and Tax Solutions. Here’s just a few of the benefits you can reap:

 

Staying compliant

The law changes on a regular basis when it comes to matters dealing with pay rates, taxes, and benefits. Here in the greater Cincinnati area, this is made worse when you consider that your employees may reside not only in different municipalities from each other and your business, it’s not terribly uncommon for your employees to reside in a different state. These variances, along with changes in Federal Law, mean there are different rules and guidelines to follow when it comes to anything involving your payroll. While there are ways you can stay informed through local business networking groups or news organizations, you may not find the information you’re given to always be accurate, and you’ll nevertheless be held accountable. A dedicated payroll service will have clear policies in place to ensure ongoing compliance so you don’t have to.

 

More responsive to your needs

Whether it’s because you want to offer a promotion, an employee’s check has gone missing, or any other unexpected issue that may arise, having dedicated payroll specialists can actually make you more responsive when action is needed. If you’re trying to handle payroll yourself, you need to figure out how to fit this kind of problem solving in with the rest of your day. When you’re already booked with meetings on a Friday, taking the time to sit down and come up with a resolution to a payroll issue can be cumbersome to fit in at best. Meanwhile, notify a payroll specialist and they can begin working on a solution right away, letting you get back to your day.

 

Keeping your focused on your business

Which is going to help you grow your business? Spending an afternoon meeting with potential clients or sitting around trying to get your books together to cut paychecks for the week? This is a tough decision no business owner should have to make. At the end of the day, the biggest benefit of having a payroll service is that it gives you your time back to invest in your business. While it might seem tempting to consider the services you do yourself as “Free,” in reality you are paying big money in the form of business growth you are passing up trying to do these things yourself. Someone else can complete your payroll, and probably do it faster and better than you can. What they can’t do though is be you. The passion and drive you bring to the table when it comes to critical decisions for your business just simply cannot be matched by an outside person. You can either spend your time writing paychecks, or you can have us take care of it for you while you work on employee training and development, or building customer relationships.

Let us take payroll off your plate so you can focus on the things that brought you into business in the first place. Call us today, and we’ll show you all the benefits we can offer for your business. Let us do our work so you can get back to yours!