Most people did not go into business dreaming of managing payroll, but payroll management is an incredibly important function. (Ask your employees how important accurate and timely payroll is to them.)
As an employer, you are responsible for calculating the earnings of employees, along with withholding for taxes and other deductions like Social Security and Medicare, recording all payroll activities, and preparing and filing tax documents and returns to federal, state, and local tax agencies.
And, of course, you pay your employees.
Managing payroll can be time consuming and expensive. If you have employees, you must manage the payroll function, but you can choose whether to keep the function in house or to use outside services.
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