Benefits of Hiring a CPA for Payroll

Many small businesses think that since they don’t have very many employees that they can just handle the payroll on their own, but there are many benefits to having a CPA or bookkeeper do your payroll for you. Payroll is so much more than calculating wages and cutting checks. Here are some reasons you should have a CPA do your payroll:

–       Proper hiring documentation forms like the I-9 or W-2.

–       Help with direct deposit set up.

–       Maintain PTO accrual and administration

–       Proper administration for benefits, insurance, and retirement.

–       Integrate payroll data into your business’s accounting and financial reporting.

–       Proper payroll and income tax withholding for federal and state.

–       Proper and timely reporting for payroll and tax submissions, quarterly and annual tax and wage reports, and year-end reporting to Social Security Administration.

–       Many times, a CPA or bookkeeper is a cost effective alternative to payroll services.