According to the IRS, 40 percent of businesses pay an average penalty of $845 per year for late or incorrect filings and payments.
Free Up Your Time: Doing payroll processing by hand or in-house is a time-consuming process. Outsourcing payroll to 360 Payroll Services (PS) can free up staff time to pursue more important value-added and revenue-generating activities. Inc. magazine recently identified the #1 task for small business to outsource is payroll, along with most accounting tasks.
Reduce Costs: The direct costs of processing payroll can be greatly reduced by working with 360. Our research indicates that a small business with 10 employees will typically spend $2,600 per year in direct labor costs associated with payroll.
Avoid IRS Penalties: According to the IRS, 40 percent of businesses pay an average penalty of $845 per year for late or incorrect filings and payments. PS provides a tax guarantee, ensuring that our clients will incur no penalties because we take responsibility for penalties when they do occur. In many instances, this cost-saving immediately justifies using PS.
Offer Direct Deposit: Not having to make a trip to the bank is an important convenience for employees. More importantly for business owners, direct deposit eliminates time-consuming and error-prone paper handling and the need to reconcile individual payroll checks every month.
Avoid Payroll Knowledge Walking Out the Door: If your bookkeeper or controller gets a new job, they will walk out the door with their knowledge of the payroll process and how you do it. Using 360 Payroll Service eliminates that business risk.