Tag

outsourcing payroll

401(k) fiduciary responsibilities
Your Fiduciary Responsibilities When Offering 401(k) Employee Benefits AccountingReportingSmall Business

Your Fiduciary Responsibilities When Offering 401(k) Employee Benefits

The Internal Revenue Service (IRS) defines a fiduciary as a party that owes a duty of care to another party and must act in their best interest because of this. If your company offers a 401(k) retirement savings benefit to employees, the actions required to manage the accounts involve fiduciary responsibilities. This is true whether…
Palmetto Payroll
July 16, 2021
Receive The Maximum Benefits From Your Payroll Provider AccountingOutsourced PayrollPayroll ProcessingPayroll Tax ResponsibilitiesSmall BusinessTime Keeping

Receive The Maximum Benefits From Your Payroll Provider

Whether you are searching for a company to perform payroll services or have worked with the same provider for years, you need to ensure you are getting the most for your investment. This blog explores questions to ask your current or potential payroll provider to give you peace of mind that your company is receiving…
Palmetto Payroll
June 14, 2021
Outsourcing Payroll Brings a Quick Return on Investment Human ResourcesOutsourced PayrollPayroll ProcessingPayroll Tax ResponsibilitiesSmall Business

Outsourcing Payroll Brings a Quick Return on Investment

Small and mid-sized business (SMB) owners often feel caught between a rock and a hard place when it comes to payroll. On the one hand, the task is taking up too much staff time. At the same time, owners of SMBs may worry about the cost of outsourcing payroll and entrusting another party with the…
Palmetto Payroll
May 30, 2021
signing papers
Important Factors to Consider When Choosing a Payroll Provider Outsourced Payroll

Important Factors to Consider When Choosing a Payroll Provider

Outsourcing payroll is a smart business decision for most companies. It frees up valuable time to pursue growth-oriented activities while also ensuring that you remain compliant with federal, state, and local regulations. However, choosing the right payroll provider isn’t always easy. It requires interviewing representatives at several companies to determine which one can best meet…
Palmetto Payroll
March 14, 2020
money bag and calculator
Take These Steps to Avoid Payroll Tax Penalties for Your Business Payroll Tax Responsibilities

Take These Steps to Avoid Payroll Tax Penalties for Your Business

There’s nothing fun about your business owing money to the Internal Revenue Service (IRS), especially when you made an honest mistake or omission. Unfortunately, this scenario is common. In 2016, the IRS assessed civil penalties against six million businesses for mistakes or omissions with payroll tax and just under one million paid a penalty related…
Palmetto Payroll
January 15, 2020
Understanding Federal Regulations for Retaining Payroll Records
Understanding Federal Regulations for Retaining Payroll Records Outsourced PayrollPayroll Processing

Understanding Federal Regulations for Retaining Payroll Records

As a business owner, the Internal Revenue Service (IRS) expects you to keep hard copies of certain records for several years in case it needs to see a copy of something again. Fortunately, you can scan the original item and store it on a computer to save space if necessary. From the standpoint of the…
Palmetto Payroll
November 15, 2019