Do you know your internal costs for handling payroll?
Does it make economic sense to outsource your payroll activity? Here are 10 cost factors of managing payroll internally you should consider when comparing your options…
1.Training of payroll staff.
2. Dedicating personnel for payroll versus other business tasks.
3.Buying and upgrading management software and hardware.
4.Gathering payroll-related information .
5. Performing calculations for wages and hours.
6. Calculating federal, state and payroll taxes.
7. Tracking payroll tax deposit due dates.
8. Monitoring changes in federal and state payroll tax rules and legislation.
9.Calculating your ongoing tax liabilities.
10. Setting up and administering a pretax benefit plan.
Let the Pros Handle It!
At Canal HR, we’ve been handling payroll and other needs for companies like yours for two decades. As a licensed PEO, Canal HR handles:
- Payroll Preparations
- Workers’ Compensation
- Employee Benefits
- Dental Plans
- And More