small business question...

payroll services aren't bad. we do our own, but my wife has an accounting background. Quickbooks makes it pretty easy though.

Another option is to use a leasing company like Administaff. Then you get payroll, all types of insurance, 401k, etc.

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I think it just depends on your tolerance for the b.s.

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low

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I'd be the type to do it myself but my cousin, with a whopping 2 employees, has it done through Paychex.

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thanks, i'll look into payhecks

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you pay them by pay period, so i would be like $60 bi weekly..im thinking thats a decent price, but i was just wondering.

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if someone asked you to do their payroll for three people for $120 a month, what would you say?

Do it yourself. Write the name of the month/year at the top then write first employee's last name on the left side. Under each name you will have 6.2% SS tax times gross=
1.45% medicare times gross=
then add these two together and multiply by 2=
then add with holding tax from table and add to the above. Then get the IRS program to down load each months total directly from your business checking account. You should have a payroll log to post each pay check with the above items. You will also file a quartly report on the same IRS program 941 is the name. If you made a small math error you can correct it here before making your last monthly direct deposit. That will same you $1440 a year. Or get a program for small business and use that. Just have to do it on time and it will become second nature.

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They have a small business division..the guy said most of his 400 clients have between 2-8 employees.

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400 clients. How often does each run its payroll? Many probably have weekly payroll. How frequently do you think he checks in with Mr. 2 employee business owner to review matters? What happens when employee number 3 is added in the middle of July, and employee number 3 had a job that he quit to go to work for the now Mr. 3 employee business?

More often than not the ADP or Paychex people will just start withholding on employee number 3 as if he has zero income and zero withholding for the year. This can result in employee number 3 having insufficient withholdings as his income from both jobs during the year could put him in the 25% tax bracket while his withholding from the two jobs never exceeeds 15%. ADP and Paychex have experts on staff, but the data entry work is done by data entry clerks, and they just input the information they are given without asking any questions.

At least that has been my experience when small business clients have used ADP or Paychex for their payroll services. And for the record, I do not perform payroll services.

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talking less than 4 employees...

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lester do it yourself and If you need help buy quickbooks. The program is so user friendly that I can get my child to use it. You will have to make your 8109 deposits, and file your 941 on the first month following the end of the qtr. in addition you will have to file a 940(dealing with FUTA). Also you will have to make respective files with the state and DOL. Year end can be crazy but usually quickbooks does a decent job in that area with that size payroll.

Are you setting up a 401K, what about workers comp? What about a Section 125 plan? If you need these services, ADP will become a better fit than doing it yourself especially in the area of workers comp. ADP, paychex and other based the workers comp on actual wages whereas traditional workers comp is based on an estimationof wages . Depending on your situation, a service providers' workers comp could be an advantage and save you a ton of money on the annual wc audit.

I am a big fan of ADP and I feel that they offer a cost effective solution for certain upmarkets, however for a 4 employee basic gig save your money.

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ADP and Paychex are great services if you have a large volume of paychecks

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I would agree with you on a basic payroll but even a small client with a complex payroll, adp and paychex could be a great fit and help reduce costs

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wit hthe size of your company. Many CPA's and bookkeeping services will also perform payroll services. You might want to investigate them as well.

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I am all about customer service and i agree that is ADP's weakness. That said, ADP will infact take 100% liablity for the payroll whereas smaller outfits might not take the risk.

Agree with other person about Netchex. Thats who I actually refer most of my clients to. Louisiana companies doing business with louisiana companies. Big time LSU fans!!!!

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mall business question...
talking less than 4 employees...

would it be beneficial to get a company to do the payroll, or try and do it yourself?

ive heard opinions on each.

on another note, anyone have any opinions on ADP? Doesnt seem to expensive, and they would do a lot to cover our arse from the IRS..just wondering if anyone had worked with them before

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I just left ADP after 3 years and now work for a competitor. I'd be happy to show you why we are different, plus we'd able to put money back in your pocket, unlike the national payroll providers.

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Many CPA's and bookkeeping services will also perform payroll services

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Many CPAs don't want the burden of doing payroll. If it's a small shop operation and they have a family emergency, good luck on getting your payroll on time.

As far as a bookkeeper, I'd pass.

99.9 % of the CPA firms won't take liability if an error occurs and 100 % of bookkeeping services won't take liability at all.