As a business, you need people to run the show. Even if you are a great entrepreneur with multitasking skills, there are things that only experts can do for your company. Payroll is one of them. Small and medium-scale businesses in Phoenix often rely on outsourced payroll and accounting services. The first obvious advantage is reduced workload. Your team can focus on everything else that needs more attention. Secondly, you can expect to save time and money, as hiring an in-house team could be expensive. What can you expect when outsourcing payroll in Phoenix? Here’s an overview!

Payroll processing

This one is probably the most basic thing that a CPA or a payroll service can do for your company. This includes tasks concerning payroll processing, such as calculating wages, paying employees on time, and ensuring that all paychecks are printed without errors. 

Tax assistance

You can also have the outsourced team handle your payroll taxes, garnishments, and deductions. These aspects often cause friction between employees and employers, and with a third-party team handling all of that, you can improve relationships at work. 

Tax filing services

As a business, you are required to file federal, state, and local taxes, and your payroll firm will take care of all that. They can also help you with W-2, W-3, and 1099 processing and will prepare monthly, quarterly, and yearly payroll tax reports. Because CPAs know that not everyone understands complicated terms, their reports are straightforward and represented through concise points. 

Compliance matters

Keeping a tab of regulatory changes can be a nightmare, primarily because these things happen too often. With a professional payroll provider, you can expect to get notified when there are changes in wage or tax laws. Many local firms also rely on cloud-based payroll systems, which allows them to ensure compliance in real-time. 

Accounting

If you are hiring a CPA for payroll, they could even help you handle your accounting needs. In fact, it is one of the wisest steps to have a single team that handles your taxes, payroll, and accounting at once. From tax preparation and planning to ensuring all documentation and bookkeeping work is done right, they can do it all. 

Final word

Outsourcing your payroll needs may sound like a big step, but once you find the right team for the job, the rest is easy. Expect to help your employees and HR team do better by hiring the expertise you need.