PAYROLL
PAYROLL
Cost-Effective Payroll Solutions
Finding effective payroll solutions is critical for any business, irrespective of size, and managing all this can be a complex and time-consuming task. At CKH, we can offer after-the-fact payroll support, in which we help you know what payments to make throughout year and file these quarterly payroll reports for you.
For live payroll processing, CKH partners with ADP to help meet all of your needs. We help set you up on their platform and support you with all payroll-related configurations to ensure your ongoing payroll is simple and seamless. And, when it comes time to do your taxes, we can easily work with you and ADP to get the information needed to file your return.
What Is Payroll?
Payroll refers to the process in which a business pays its employees within a specific timeframe or on a designated date. It is typically overseen by the accounting or human resources department within a company or is outsourced to other firms or companies like ADP to handle it for you. Payroll involves paycheck processing, employee benefits, insurance, and accounting functions such as tax withholding.
Between our own expertise and our partnership with ADP, we are able to provide support for both after-the-fact and live payroll processing.
What is a Payroll Tax?
A payroll tax encompasses the taxes on wages, tips, and salaries paid by both employees and employers. Employees have taxes deducted from their paychecks, which are then remitted to the government by the employer. These deductions encompass federal, state, and local income taxes, along with the employee’s portion of Social Security and Medicare taxes (FICA). On the employer’s side, they are responsible for paying their share of FICA, as well as federal and state unemployment taxes.
Why Should You Outsource Payroll?
Outsourcing payroll to a third party offers a multitude of benefits. A few of the top advantages include: saving time, reducing costs, maintaining tax accuracy, ensuring compliance, providing additional security, eliminating software difficulties, creating contingency plans, and offering direct deposit.
Managing payroll in-house, even as a small company, can be a major drain on time and resources, while also running into roadblocks when it comes to understanding compliance or software on your own. In general, outsourcing payroll to a third party is the best option if you are not an accountant or do not have payroll knowledge. Consult this 10-step guide for efficient payroll processing to determine what course of action is best for you.
Why Choose CKH Group?
CKH Group’s Accounting and Advisory services are designed to help businesses navigate the complexities of financial management in today’s dynamic economic landscape.
With CKH Group, you’re not just getting a CPA firm; you’re gaining a trusted partner committed to your success. Discover the CKH Group advantage, where excellence, integrity, and expertise come together to create a powerful accounting and advisory partnership for you. Contact us today to explore how our accounting services can add value to your organization.
