I · WHY OUTSOURCE
PAYROLL · SOLO CPA OVERSIGHT
Preparing employee payroll can be a tedious and time consuming task for small business owners. Complying with constantly changing payroll taxes at the federal and state level can also be difficult for individuals running a business.
Many businesses incur IRS penalties as a result of late payroll tax reporting and tax deposits. Rebecca Boss CPA can provide this service for your business in a cost-efficient and timely manner, providing you with additional time to concentrate on other important facets of your business.
II · WHAT THE SERVICE COVERS
III SUB-SERVICES · I CPA
Three things, done by hand .
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1. Payroll Preparation
The pay run itself — calculating gross pay, withholdings, and net pay for each pay period; producing pay stubs and payroll registers; and keeping the records the IRS, the State of Arkansas, and your bookkeeping ledger all need to agree on at year-end.
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2. Quarterly Payroll Tax Reporting — Federal and State
Form 941 federal quarterly returns and the corresponding Arkansas state quarterly returns prepared and filed on schedule. The IRS penalties the lede paragraph mentions almost always start with a missed quarterly deposit; quarterly oversight by a CPA is where they get caught before they compound.
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3. Annual Payroll Tax Reporting — W-2, W-3, Form 940
Year-end W-2 statements for each employee, the W-3 transmittal to Social Security, and the Form 940 federal unemployment return. Filed for the prior calendar year on the federal deadline; coordinated with the year-end accounting close so the W-2 totals reconcile to the books.
III · IN PRACTICE
PAYROLL · BIWEEKLY · 940 / 941 / W-2 / 1099
For most small businesses in Northwest Arkansas, the question is not whether to outsource payroll. It is whether the person you outsource to picks up the phone when the deposit deadline is wrong. Rebecca prepares your payroll, files your quarterly federal and state returns, and reconciles the year-end W-2s and Form 940 against your books. One CPA, one signature, one phone number.
