Current Accounting

Bogged Down by Payroll? Time to Hire Us and Alleviate the Pressure

As we head into a post-pandemic era, a lot of the things we used to value have changed. One of the biggest consequences of taking

As we head into a post-pandemic era, a lot of the things we used to value have changed. One of the biggest consequences of taking some time off to reflect is that many workers are refusing to put their work above their life in terms of balance. That’s creating a situation where finding and retaining talent are both becoming an issue for many small-business owners. If you can find good help, it’s important to do everything you can to keep them loyal. Payroll problems are a surefire way to see them walk. But if you are spending more time paying employees than guiding them, that might be taking a toll on your daily grind. These are reasons to hire us to handle your Charleston payroll!

Save Time

Think about this: if someone asked you to perform a job that you weren’t well versed in, it would take you about twice the usual amount of time. That’s what is happening with your payroll. If you hire us, we take the guesswork out of your Charleston payroll while we save you time to focus on the things that you do best, like growing your small business. If you spend all your time on tasks, you are going to lose sight of the big picture of expansion. 

Avoid Fines and Fees

There is nothing scarier than dealing with the IRS when you aren’t compliant or you get audited. Not only can it cost a lot in legal expenses; it is about the most financially stressful thing you can deal with. If you are like the rest of us, tax time is something you only think about once a year, and when it comes along, there is typically a lot of digging out. Getting audited is not unheard of and it can be extremely scary, but if you have an accountant on your side, you are less likely to get flagged in the first place. If you do, you have someone to back you up who can make sure that you can avoid costly penalty fees.

Maintain Employer Compliance Requirements

There are a whole lot of other things to consider related to employees and payroll. Compliance means that you follow all the laws, codes, standards, and regulations of both the Federal and State governments as well as local authorities. The second part is that your employees have to comply with you. Things like safety regulations, standards posting, and other policies need to be written and displayed. They are both part of limiting your risk of being the subject of a lawsuit. A payroll service can help you with all aspects of compliance requirements.

Streamlining Services, Rules, and Regulations

A payroll company will know the proper rules for withholding and coverage regulations. Things like workers’ compensation and Federal Insurance Contributions Act covering Medicare, unemployment insurance, and Social Security are all required or you can face fines and action by the government. A payroll company can help with things like retirement benefits, lowering the risk of an IRS audit, and ensure that all deposits are made appropriately.

Keep Your Company Quick to Pivot

If there is one thing that we’ve taken away from the pandemic, it is that companies that could pivot quickly and make fast decisions were more likely to survive than those that did not. If you have a payroll company, you can increase employees if you need to and add them to the payroll system without any problems. In the same respect, if you need to let employees go, a payroll company can help with that, too.

Being a business owner sometimes requires you to wear a lot of hats. If you find that you are spending more time paying employees than anything else, you are putting your time and effort into the wrong thing. Current Accounting can take payroll off your plate and free you up to focus on the business at hand – literally. Contact us today to get started.