Payroll Management Choices Illinois

The task of managing your company's payroll can be delegated to a staff member, managed by your accountant, or outsourced to a payroll service provider-a company that contracts with your business to handle payroll details, including check generation, tax filings, and compliance with government regulations.

Local Companies

Telepay Payroll Service
309-807-5569
109 S. Magoun St.
Bloomington, IL
PAYCOM
773-355-5701 x100
8420 W. Bryn Mawr
Chicago, IL
Complete Payroll, Inc.
815-788-2932
380 N. Terra Cotta Rd., Suite D
Crystal Lake, IL
Sure Payroll
1-847-676-8420
2350 Ravine Way, Suite 100
Glenview, IL
Payroll Services Plus Inc
630 860-7652
458 South Judson Street
Bensenville, IL
Bryan Dohman
773-818-5380
7657 N Greenview Ave
Skokie, IL
SIR Management Inc
(847) 675-7979
6840 N Lincoln Ave
Lincolnwood, IL
Inland US Management Llc
(773) 622-4850
2640 N Narragansett Ave
Chicago, IL
Clothing Retail
(847) 680-5817
219 Hawthorn Ctr
Vernon Hills, IL
M S I Consulting
(847) 202-3992
440 S Stuart Ln
Palatine, IL



The task of managing your company's payroll can be delegated to a staff member, managed by your accountant, or outsourced to a payroll service provider-a company that contracts with your business to handle payroll details, including check generation, tax filings, and compliance with government regulations.

The following breakdown of each method's advantages and disadvantages can be used to help you decide which is right for your company.

Internal management by staff member(s)

Advantage:
  • Highest level of control over payroll issues
Disadvantages:
  • Requires staff expertise in multiple areas
  • Greater opportunity for error
  • Company is directly liable for IRS filing errors
  • Actual cost is often higher than expected due to additional man-hours invested in payroll-tax preparation and filing
  • Companies often reap greater value from staff member's time being devoted to core business issues


Accountant

Advantages:
  • Management by financial expert
  • Offers more control than payroll service provider, less than internal staff member
Disadvantages:
  • May be unable to manage payroll add-ons such as 401(k) plans and direct deposit
  • Often more costly than internal management or payroll services
  • May take more time to prepare payroll documents than payroll service providers


Payroll Service Provider

Advantages:
  • Payroll expertise: these companies are familiar with all necessary tax and regulatory issues
  • May be able to provide additional services such as 401(k) and direct deposit
  • Controls your payroll processing costs by setting a standard fee
  • May take financial responsibility for fees and penalties resulting from payroll filing errors
Disadvantages:
  • Restricted opportunities to make adjustments to payroll amounts
  • One step removed from tax filing documentation


The decision to outsource or not may also come down to cost. To find out which payroll management option is most affordable, estimate the number of hours you or your employees spend calculating and preparing checks, computing and filing tax forms, and preparing additional payroll documents such as W-2s or direct deposit information.

Add to this figure the time spent correcting IRS filing errors, then multiply your total by an hourly wage that represents the value of your and your employees' time. Compare this figure to the cost of having your accountant manage payroll (based on his/her hours and fees) and to a payroll provider's fees.


Featured Local Company

Telepay Payroll Service

309-807-5569
109 S. Magoun St.
Bloomington, IL
www.TelepayPayroll.com

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Regional Articles
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- Payroll Management Choices Fairview Heights IL
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- Payroll Management Choices Maywood IL
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- Payroll Management Choices Midlothian IL
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- Payroll Management Choices Moline IL
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- Payroll Management Choices Morton Grove IL
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- Payroll Management Choices Pekin IL
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- Payroll Management Choices Quincy IL
- Payroll Management Choices Riverdale IL
- Payroll Management Choices Rochelle IL
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- Payroll Management Choices Skokie IL
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