Payroll Solution Options
Payroll is one of the largest expenses for small and medium-sized businesses. It can also be a company’s biggest headache if not administered properly. In 2014, 1 in 3 businesses incurred payroll related tax penalties due to mistakes thus requiring additional time and headaches communicating with the IRS to resolve the issue.
The main reasons companies outsource payroll is compliance, accuracy, and time. Mistakes are notoriously commonplace, and ever-changing payroll tax laws and compliance issues, this can lead to these errors. Outsourcing can eliminate these errors as payroll experts such as APR specialize in that area.
Payroll Solutions or Payroll Services — Which is Right for You?
The PEO and Payroll Service models enable employers to cost-effectively outsource the administration of payroll, human resources, employee benefits, and workers’ compensation to a third party, allowing business owners to focus on running their businesses. The major distinction between our Payroll Services and the PEO option is that in the PEO model, APR becomes the employer of record (co-employer) for tax purposes. Our PEO services provide the above solutions in one bundled package, differentiating it from our Payroll Service, which allows individual services under the client’s company.