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Payroll 101 – How to Choose a Payroll Service Company

The only thing business owners dread more than “keeping books” is dealing with the fallout from messing them up. Tangled tax rate changes are difficult and costly for business owners to stay on top of. Additionally, failure to comply or file properly can result in expensive penalties. This year, the IRS penalized nearly one in three businesses for payroll errors.

If your payroll is still in-house, consider the time you spend navigating federal and state rate changes, and the possible penalties for filing incorrectly. Outsourcing your payroll is a cost effective solution that will save you many headaches. A payroll service company, at a minimum, will pay your employees, pay your payroll taxes and file your tax forms accurately. Many companies also provide other time saving services, such as group benefits, retirement plans, pay-as-you-go workers compensation and HR integration. Even if you have just one employee, penalties for filing wrong can cost more than a whole year of payroll service expertise.

How we pay employees and the government has also changed. Most companies today have paperless payroll, and should look for a partner that provides a secure, intuitive web platform; ensuring the data you enter into the system, is the data they process. For cutting edge companies, smart phone and tablet applications can put payroll solutions at your fingertips from anywhere.

Not all payroll companies are created equal. Your experts need to have up-to-the-minute knowledge of federal and state changes, the ability to interpret them, and if they interpret wrong, assume full liability for their error. If you are considering outsourcing your payroll, look for a company with proven expertise, a sterling reputation, and world class technology. Also, where your money is concerned, there should be no substitute for accessible customer service. Nothing is more frustrating than a voice mail jungle. Consider a payroll service company that provides live experts when you need them.

Meridian Payroll Group has provided the greater Temecula Valley with fully outsourced payroll processing options since 2001. Meridian Payroll Group’s value is simple: “better products, better service at a better price.” They pride themselves on “no voice mail” one-to-one customer service and turnkey solutions. To find out how Meridian Payroll Group can serve you, visit their website at www.meridianpayrollgroup.com or call them at 877-8PAYROLL.