Payroll Services

Do you have a payroll department or a “payroll services” branch at your business? If so, you will be glad to know that these departments don’t just exist to pound out the paychecks. While that is certainly an important part of their job, most are willing to provide help with other jobs and needs as well.   

1099s

To start off with, did you know that most payroll departments will help you when it comes to collecting information for 1099s?

1099-MISC is the form filed for paid non-employees, such as contract workers. Hunting down all those workers and sending out all those forms can be a pain…unless you let payroll take care of it for you. 

These aren’t the only forms payroll services can help with either. Most of them will also help with W-2s.

Backup Withholding

Something else payroll will typically help with is backup withholding deductions.

If the IRS requires you to withhold federal income taxes, pass the information onto the payroll department and let them process it and handle the withholding for you.

As you can see, payroll services can be quite useful. If you don’t currently have a payroll department at your place of work, then maybe it’s time to invest in one! There are plenty of payroll services and accountants who will handle these needs for you, as well as many more.