Stay Tax Law Compliant by Outsourcing Payroll

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Stay Tax Law Compliant by Outsourcing Payroll
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• Penalties for late filing of taxes or incorrect
  payments are a common cause of concern among many
  businesses, particularly smaller companies who
  tend to prefer to tackle their payroll duties
  singlehandedly. This may work well for some
  business owners who have enough time to devote to
  payroll, but without specialist knowledge of the
  many state and federal rules, laws and
  regulations surrounding it, it can be easy to
  slip up and make costly errors. Business owners
  who choose not to outsource payroll, are still
  legally responsible for any cases of
  misrepresentation or failures to inaccurately
  report employment taxes to state and federal
  government agencies.

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• The benefits of outsourcing payroll
• Companies who specialize in payroll and its many
  different elements, will keep themselves up to
  date with all changes to employment related tax
  laws and will ensure that you and your business
  are always legally compliant. Policies also
  change regularly, and as a business owner, its
  doubtful that you would have the time to research
  changes to laws and policies and thats when they
  run the risk of incurring costly penalties.
• Payroll companies have experts on their teams who
  will not only take care of payroll, but many
  other HR related duties, too.

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• Some will handle the administration of employee
  benefits and all deductions in the payroll
  system, along with employee compensation and the
  changing of class codes when their allocated job
  role changes. Others will help with a whole range
  of employment issues and offer up HR strategies
  to help businesses improve employee relations.
• How often do tax laws change?
• Over a decade long period ending in 2010, there
  were estimated to have been 4,430 changes to the
  tax code, which averaged out at more than one
  every single day! In 2010 alone, there were
  around 579 changes hard to believe, but you can

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• see how important it is to keep on top of all
  changes and make sure that your business remains
  compliant.
• Naturally, such constantly changing tax laws have
  an impact on tax planning, tax return,
  preparation and, ultimately, tax cash flows for
  any business. A payroll expert will make it their
  job to ensure that they are always fully aware of
  any changes that may affect businesses, and will
  update them accordingly.
• What are some of the consequences of failing to
  comply with tax laws?

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• Failing to meet all state and federal guidelines
  for tax compliance can easily result in some
  costly consequences for your business. You may
  leave yourself vulnerable to a government audit,
  incur expensive fines or in a worst case
  scenario, you may be forced to dissolve your
  business altogether.
• Outsourcing payroll is one of the simplest and
  most cost-effective ways of ensuring that you and
  your business stay tax compliant. It may be
  tempting to try and handle payroll yourself, but
  the risks far outweigh the benefits, and while
  you may feel as if you cant afford to pay a
  third party, you must ask yourself if your
  company can afford to pay costly fines and
  penalties that its highly likely to incur if you
  arent aware of the ever changing state and
  federal tax rules and regulations.

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• Apollo Payroll is one of the premier small
  business payroll services companies in Miami and
  Coral Gables. Apollo Payroll is dedicated to
  delivering expert advice, responsive service, and
  highly accurate payroll processing and reporting
  to ensure the success and growth of the business
  that we serve. Our services include comprehensive
  online payroll services, employee background
  check and employee timekeeping services.