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#157184 - 09/05/05 12:14 PM Paychex, anyone?  
Redsy  Offline
Member
Joined: Mar 2001
Posts: 2,056
Bucks County PA
I am considering "taking the plunge" and hiring a bona-fide employee with all the ensuing paperwork and expenses.
Since paperwork is my weak point, I am wondering about using a payrol / tax paying service.

I appreciate any input.

Thanks!


Business, Office, Estimating, Legal:

#157185 - 09/05/05 02:11 PM Re: Paychex, anyone?  
Electric Eagle  Offline
Member
Joined: Apr 2002
Posts: 914
Alpharetta, GA
Redsy, I use Quick Books payroll service. If you already use Quick Books it'll be an easy transition. I still write the paycheck, but the tax deposits, monthly and quartly tax filings are handled by them. They also send the W-2's out. I resisted for a long time, not wanted to pay the expense, but it has been much easier and well worth it. The only minor draw back is that they take the taxes from your bank account the day before checks are issued, so you can't float the tax (and you shouldn't anyway).


#157186 - 09/05/05 04:06 PM Re: Paychex, anyone?  
macmikeman  Offline
Member
Joined: Jul 2002
Posts: 717
Honolulu, Hawaii
Redsy, I used to use a payroll servicewhen I had employee's and can honestly say they worked out very well for me, as I have zero formal training in the paperwork or laws. The payroll service wanted 100 % of the weekly bill paid up front, but would credit us back if a short week was reported for an employee. They made me sign waivers regarding employee safety practices, so they are covered if my company did not follow safe working practices. It pays to shop around for the right payroll service company as rates vary, and also this is important - make sure the payroll service you hire forwards all money owed to the govt. deducted from your employee's paychecks or guess what- you will be held responsible for the difference by the IRS.


#157187 - 09/05/05 07:23 PM Re: Paychex, anyone?  
Redsy  Offline
Member
Joined: Mar 2001
Posts: 2,056
Bucks County PA
Thanks for the quick response and valuable input, guys.
I am entering into this "kicking and screaming", but I have to take it to the next level or I may start losing business.

BTW LK,

I passed the NJ test in April, and through a series of complications (none on my part), I just got my license last week and still don't have my business permit.
I once heard that NJ makes it difficult for "outsiders", but I dismissed that comment as "urban legend".
Now, I'm not so sure? [Linked Image]

Thanks, again!


#157188 - 09/06/05 05:16 AM Re: Paychex, anyone?  
Pat@Amber  Offline
Member
Joined: Aug 2004
Posts: 106
Gaithersburg, MD USA
Redsy,
I use a national payroll service and could not be happier. They have several different levels of service and I went with the full service where I do nothing.
I spend less than a minute on the phone every other week (they call me)and everything is taken care of--checks, federal and state taxes, FICA, quarterly 941's etc.
All this for around $100 a month. It's truly the best money I've spent.

LK
I was talking to another contractor who uses a "co-employer" service like you mentioned. I didn't get a chance to ask him about it though. What is the upside to using one of these companies?

Pat


Power to the people

#157189 - 09/06/05 07:46 PM Re: Paychex, anyone?  
LK  Offline
Member
Joined: Jan 2003
Posts: 1,429
New Jersey
Pat,

The "co-employer" service , has no upside for me, here in jersey the employee must be under our control, we are not allowed to use any subs unless they are licensed, and we partner a job, these companies are ok for non-pro type workers.



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