Can You Really Save Money When You Outsource Payroll?

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Can You Really Save Money When You Outsource
Payroll?
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• While it can be easy to look at outsourcing
  payroll duties as an extra expense you could do
  without, this is a rather simplistic way of
  viewing it, and does nothing to explore or
  explain the amount of money that a small business
  can save in the long term if payroll is
  outsourced. In fact, when you examine outsourcing
  in closer detail in particular, payroll many
  of the direct costs associated with processing
  payroll internally, can be massively reduced when
  working with an outside provider. Lets look at
  this in closer detail

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• Can your small business afford an in-house
  payroll department?
• For larger companies, it goes without saying that
  they will have an in-house payroll department,
  and with bigger numbers of employees, those
  payroll staff are probably working full-time and
  able to successfully perform their duties. For
  smaller businesses, however, an in-house payroll
  team can be a very real drain on their valuable
  resources.
• If your small business employs less than 30
  people, then statistically, youre going to save
  money by outsourcing your payroll
  responsibilities. If you already have an in-house
  payroll employee (or two), then you can easily
  calculate the financial advantages of outsourcing
  by simply adding up the time and money spent by
  your payroll on each of the following

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• Printing
• Signing
• Offering support
• Distributing paychecks
• Software and program maintenance
• Training and support
• Staying updated with relevant payroll laws and
  regulations
• Keeping up to date with tax laws (which change
  frequently)
• Preparing and remitting payroll taxes and returns
  to the IRS
• W-2s
• New hire reporting
• Garnishments

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• And then compare this with the total amount that
  a payroll provider is offering you in their most
  appropriate payroll plan. Most small business
  owners are pleasantly surprised when they see how
  much they could save when outsourcing.
• Are you looking at the bigger picture?
• Its important to take the above activities into
  account when calculating your monthly payroll
  expenditures, but its also important to
  carefully consider the salary of your payroll
  staff, plus benefits, and the cost of everything
  when added together.

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• It can be hard to see the bigger picture
  sometimes, especially when youre a small
  business and every dollar you spend really
  counts, but only when you do so can you really
  understand the financial benefit of outsources,
  and how it could save you money in the long term.
  And lets face it, nobody starts a business
  without wanting it to succeed and make money.
• By not having a payroll employee to pay, you can
  either replace them with someone who can perform
  other important roles within your company, or
  simply make savings by not having them on your
  payroll. Another important consideration is that
  your payroll provider will never take a sick day,
  go on an extended vacation or even request
  maternity leave

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• they are there for you around the clock, and with
  a team of payroll experts on your side,
  everything should run smoothly. Not only that,
  but tasks will be performed quicker, meaning that
  you can save even more money because youre only
  paying them for the tasks they perform.
• The advantages of outsourced payroll are myriad,
  and if youre interested in saving your small
  business some money, reach out to a trusted,
  professional payroll service provider today.

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• At Heyer Associates, we proactively assist our
  individual and small business clients in meeting
  their goals. Our key area of focus is ensuring
  that our clients remain compliant with federal
  and state tax laws by providing them with high
  quality accounting and tax services Miami Beach.
  If you are looking for individual tax preparation
  in Miami Gardens, Heyer Associates would be a
  right option.