17 Jul It’s Best To Hire A Payroll Company

By Jennie Wong, The Charlotte Observer

When my husband and I hired our first employee at our Web development company, we had it easy when it came to doing payroll. We were already long-standing clients of a local CPA firm, so we were able to provide it with the information and simply hand over the entire process.

Many other entrepreneurs, however, face a harder road. How hard exactly? To give you some idea, the U.S. Small Business Administration has a Web page dedicated to “10 Steps to Setting Up a Payroll System.” These steps include such things as obtaining an Employer Identification Number (EIN) and educating yourself on the difference between an employee and an independent contractor. And that’s all long before you even get to the final step of reporting payroll taxes.

If you’re confused by the payroll process, there are a variety of options for payroll assistance. Gavin Dennis is the owner of the Charlotte, N.C., franchise of Payroll Matters. He urges entrepreneurs to consider the hidden costs of doing it yourself: “Even with just a few employees, running payroll each month can be time-consuming. There are so many details involved, most business owners would be better off handing this task to an expert and focusing on doing what they do best instead.”

Dennis also believes that professionally managed payroll leads to happier employees. “Even for those clients who we only know over the phone, there’s a tremendous benefit in dealing with same person every time, who knows your name and understands your business,” he says. “And, should the need ever arise, we’re just a short drive away.”

Read more here: http://www.sacbee.com/2014/07/17/6562488/ask-the-mompreneur-its-best-to.html#storylink=cpy