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Payroll Management Choices Maryland

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

Professional Payroll Plus
410-820-7658
406-b Marvel Ct.
Easton, MD
Mary Kraft Staffing & H.R. Solutions
410-296-0655
1447 York Road
Lutherville, MD
TimePlus Payroll - DC/MD/VA
240-780-9175 x501
13017 Wisteria Drive #441
Germantown, MD
PrimePay
302-377-3863
3700 Koppers Street
Baltimore, MD
General Business Services
(410) 641-5666
Berlin, MD
Gdr Management
(301) 937-2217
4600 Powder Mill Rd
Beltsville, MD
Segnation Llc
(410) 280-1577
131 Prince George
Annapolis, MD
Vantage Property Management the
(410) 553-0404
1916 Crain Hwy S
Glen Burnie, MD
Business Products Group Inc
(410) 266-1661
2108 Renard Ct
Annapolis, MD
Associated Management Services Inc
(301) 588-9694
8701 Georgia Ave Ste 705
Silver Spring, MD



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

Professional Payroll Plus

Let us show you how we provide "the personal service you deserve." Give us a call, we're here to help.

410-820-7658
406-b Marvel Ct.
Easton, MD
professionalpayrollplus.com

"The Personal Service You Deserve"
Complete Payroll & Bookkeeping Services
For a minimal monthly cost, you can simplify and ease any and all payroll & bookkeeping concerns. All provided in secure, efficient, accurate, & personal manner.
If you are spending more time dealing with payroll & bookkeeping issues than searching for new ways to grow your business & profits, or if you find that this could be more beneficial than your current setup, give us a call. We're here to help.

Read more about Payroll Management Choices

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