Payroll

Compliance with reporting and recordkeeping requirements mandated by federal and state legislation is a must for any employer, partly for the positive reputational benefits and partly to avoid the penalties for non-compliance. “Accurate payroll is essential for any company. Mistakes in employee pay calculations can lower employee satisfaction. Errors in government filings and tax payments can result in costly fines.” In fact, compliance is one of the core challenges facing any payroll process. What follows are summaries of the four main payroll-related pieces of U.S. federal legislation

• Federal Insurance Contributions Act
• Federal Insurance Unemployment Tax Act
• Fair Labor Standards Act
• Consumer Credit Protection Act

Our payroll services are offered electronically, saving you time, money and reducing costly mistakes. To help you eliminate hours of distribution time, your employees will enjoy secure online access to their paycheck stub information and W-2’s.

Payroll is a time consuming, if you do it without enough knowledge. That’s why when it comes to Payroll you must make a comparison between the cost of the time consumed in payroll tax filing and the cost, if you decided to have a professional do it for you. Your payroll professional should be making all your tax payments and filing all your tax returns for you. All you should be receiving are copies for your files. If you are still signing tax returns, getting them in the mail on time, or taking payments to the bank, you have not truly outsourced your payroll.

Accountants on Air file all Federal, State, and Local tax payments and returns as a core function of our service to you. Our professional team will handle the processing for you, including: check printing, payroll tax filing, W-2 and 1099 processing and reporting. In addition of maintaining tax compliance. Your dedicated professional works with you closely to ensure everything is processed accurately, verifying check dates, ensuring taxable wages are calculated properly and checking for proper withholdings.

According to a study by the Freelancers Union, over 53% of the U.S. workforce is involved in some kind of freelance work. And that number is expected to grow in the future. In addition,

many people work as an employee and also have their own business on the side, where they can generate side income. At this type of cases, you need to know the difference between a 1099-MISC and W-2. A Form 1099-MISC is the tax form you receive from a company you contracted with. A W-2 is the tax form you receive as an employee from your employer.

The major difference between these forms is the tax section. Companies do not withhold taxes for contractors, so the 1099 will include the full amount that was paid for you. On the other hand, companies withhold taxes on W-2 income for their employees; a W-2 will include your total earnings, plus how much was already withheld in taxes and sent to the government on your

Issuing these form is the most critical and oppressive process to all employer every year. You are almost guaranteed an audit or tax notice if you fail to report a Form W2/1099. Each Form W2/1099 is matched to your Social Security number, so the IRS can easily spew out a tax bill if you fail or incorrectly report any of them. It matters a lot, especially now that the IRS has six years to audit, not three.

Accountants on Air team of payroll specialists can help you avoid costly IRS penalties. Not only we handle the entire payroll process for you, we also ensure your taxes are calculated correctly and your tax payments and filings are submitted on time.

Processing payroll on the Air enables employees to receive deposits more quickly than with paper checks. Plus our direct deposit service expedite their payment to be automatically divided among different checking and savings accounts. Your employees should receive checks that have full pay-stub information with current and year to date totals. You should have the option to have your signature pre-printed on the checks. And you should have check options like pressure-seal checks that are already sealed up so anyone in your office can pass them out.

Whatever pay method you use at your industry, our payroll team adapts to work closely with you. Simply handles multiple pay rates for each employee; even those who work in multiple states. Automatically calculates all taxes, benefits, deductions, and additional garnishments.

Usability is simplified and streamlined as payroll entry is done via one window

Our payroll team guides you through each step of the process of printing reports, printing checks, posting, etc. Moreover, all these features are offered as part of our basic service-no extra charges will surprise you along the road.