Your business must also retain records about compensation, such as the date paid, pay period, tips, non-cash payments, compensation subject to withholding and payroll taxes, and details about fringe benefits. In addition, you must keep copies of pertinent federal forms filed. Record-keeping isn't just required under tax laws. A number of federal, and possibly state, laws require some or all employers to retain certain records.
For example, you may have responsibilities under the Fair Labor Standards Act, the Age Discrimination in Employment Act, the Family and Medical Leave Act, the Immigration Reform and Control Act, the Occupational Safety and Health Act and the Employee Retirement Income Security Act. This is a daunting list. To make matters worse, each law has its own statute of limitations for record-keeping. Mistakes can lead to costly penalties. Keeping track of all these payroll-related records is time-consuming and stressful.
There is an easier way. Contact us to handle your payroll. That way, record-keeping will be done automatically. We make your life easier … because we do all the work. We can help your business operate more smoothly by: Running your company's payroll according to your pay schedule. Ensuring payroll deposits are made on a timely basis. Guaranteeing that your quarterly and year-end payroll reports are accurately prepared and filed to meet government deadlines. Monitoring all changes in payroll law to keep you in compliance and help avoid costly penalties. Contact us. With our service, you can leave payroll hassles behind.