10 Great Reasons for Outsourcing Payroll Services

businessWhile peace of mind may be reason alone for outsourcing payroll, below are additional reasons why outsourcing payroll services may be a great solution for your small business:

  1. Save time by letting payroll specialists do the work.
  2. Save money by focusing your time on building your business.
  3. Avoid penalties where errors in federal, state and local taxes and filing requirements may be avoided.
  4. Reduce costs by comparing in-house processing wages to outsourced processing fees.
  5. Avoid the hassle of needing to stay on top of payroll rules and regulations.
  6. Add employee benefits such as direct deposit and 401(k) plan options.
  7. Avoid payroll processing headaches having to upgrade in-house systems or software.
  8. Leverage outside expertise on regulations, withholding rates and government forms.
  9. Eliminate payroll disruption if your payroll person leaves.
  10. Security, most payroll services firms have technologies that can spot and alert clients to various types of payroll fraud, such as payment manipulation and “phantom workers.