The payroll industry ensures that staff are paid and taxes managed. It’s an essential part of a business—and it’s a career that’s always in demand. Our guide will explain why payroll services are important, how to create a payroll department and issue invoices efficiently, and where to learn the skills to work in the industry.
Employees and freelancers expect to receive their pay on time and accurately. They’ve done the work, and they deserve the pay.
Ensuring that they receive the rewards that they’ve earned helps to stabilize your team and keep them motivated. If you’re prepared to do the work needed for a career in payroll, you’ll earn rewards too.
When you think of payroll you probably associate it with issuing paychecks. While this is an important part of payroll, payroll is also responsible filing and withholding taxes and handling paycheck deductions like benefits and garnishments.
In short, payroll is an extremely part of a business for legal and financial reasons. Perhaps that why in National Small Business Association (NSBA) 2014 Small Business Taxation Survey, “Payroll taxes were ranked as the number one most financially burdensome and number two most administratively burdensome federal tax among small firms.”
If you’re small business or someone looking to become a payroll expert, this guide will define what exactly payroll is, why it’s important, where you can learn about payroll, and how to set-up your own payroll system.
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