The biggest value of outsourcing payroll is peace of mind. It allows you to focus on your core business and growth strategies as opposed to administrative tasks.
Boca Raton, Florida (PRWEB) November 06, 2013
SourceOne Partners, a leader in the payroll and PEO (professional employer organization) industry, offers relief to small business owners hastening to meet end-of-year deadlines for payroll taxes and streamline HR operations.
As business owners prepare for the start of 2014, many are bombarded with year-end payroll tax responsibilities, as well as staying in compliance with ever-changing labor laws. SourceOne Partners can help business owners find the right payroll service provider at competitive prices based on their individual needs.
End-of-year payroll and tax responsibilities facing business owners include:
- Verifying employee data for active and terminated employees
- Paying out year-end bonuses
- Updating unemployment and disability insurance rates
- Gathering 1099 vendor information
- Reconciling gross wages with year-to-date wages on the payroll report
- Processing of W-2’s and W-3’s
- Managing workers’ compensation audits
A wrong calculation or missed deadline could cost the company severely with stiff penalties from the IRS or state.
“I’ve seen businesses that don’t even know who to contact about benefits after an employee passes away,” says Jeff Hecht, CEO of SourceOne Partners. “Not only is it important to keep employee information on file, but the numerous regulations and requirements faced by business owners can be overwhelming, especially when closing out the year. The biggest value of outsourcing payroll is peace of mind. It allows you to focus on your core business and growth strategies as opposed to administrative tasks. We can help with that.”
Once only available to large corporations, outsourcing payroll services now offers advantages to small and mid-size businesses that save both time and money. The advantages of outsourcing payroll services include:
- Improving HR efficiencies
- Managing workforce costs
- Lowering expenses
- Focusing on core business
- Attracting and retaining great employees
- Complying with labor & tax laws
- Implementing pay-as-you-go workers’ comp services
- Processing payroll from anywhere with online payroll services
“We are most pleased with our current payroll services provided by SourceOne Partners,” says J.W., a client who owns a construction company. “They have the ability to meet and exceed all of our needs and expectations. We do business in three different states and they have been very helpful assisting us with that.”
Even small business with only a few employees – even one employee - need to keep track of important employee records, such as job history and emergency contacts, keep up with continually changing regulations and keep the payroll process running smoothly and on time. Payroll service providers allow employers to focus on their core business while avoiding fines and penalties for non-compliance. SourceOne Partners can help you find the payroll service that is the right fit for your business without the headache.
About SourceOne Partners
With over 50 years of combined experience, SourceOne Partners continues to be at the forefront of PEO and payroll services in South Florida, New Jersey, New York and Pennsylvania. SourceOne Partners helps small to medium-sized businesses simplify their administrative, payroll and HR processes while lowering costs by offering customized solutions that meet the unique needs of each client. Visit sourceonepartners.com for more information.