Payroll Services with a Payroll Partner

TPC The Payroll Company HR Consultants is more than just a third-party payroll service but a true Payroll Partner with services from payroll, human resources, timekeeping, scheduling, and much more.

What does payroll outsourcing mean?

Payroll outsourcing is when a business or organization uses a third-party service provider to handle the administrative and compliance tasks associated with employee pay. Outsourcing payroll processing allows HR and payroll managers to focus on more strategic tasks in their organizations.  At TPC The Payroll Company HR Consultants, we are more than a third-party provider but a true payroll partner.

What are the pros and cons of a payroll partner?

Time and peace of mind are the two most meaningful benefits of working with a payroll provider.  Hiring professionals who are knowledgeable on tax law and compliance, as well as providing a team who will not call in sick or take a vacation, leaving you to scramble to train unqualified employees.  Duplication, mistakes, and human error also lead to payroll losses that can be avoided with a professional outsourcing company.

How often should I pay my employees?

Federal law does not set requirements for how often you must pay employees—that’s left up to the states. However, federal laws do say that employers must keep a reliable and consistent pay frequency. This means that, for example, you can’t pay employees weekly one month and then biweekly the next.  Nevada law requires employers to pay their employees at least twice a month (NRS 608.060).

What are payroll taxes?

A payroll tax is a tax paid on the wages and salaries of employees to finance social insurance programs like Social Security, Medicare, and unemployment insurance.  Each state has its own guidelines and requirements separate from the federal requirements. 

What payroll deductions are pre-tax?

Pre-tax deductions include medical and dental benefits, 401(k) retirement plans (for federal and most state income taxes), and group-term life insurance. Mandatory deductions include federal and state income tax, FICA taxes, and wage garnishments. Post-tax deductions: Garnishments, Roth IRA retirement plans, and charitable donations.

What payroll taxes do employers pay?

FICA is often referred to as payroll tax because, typically, employers deduct FICA tax from employee paychecks and remit the money to the IRS on behalf of the employee. (FICA stands for Federal Insurance Contributions Act).

What is FICA tax? 

FICA tax includes a 6.2% Social Security tax and 1.45% Medicare tax on earnings. In 2021, only the first $142,800 of earnings are subject to the Social Security tax ($147,000 in 2022). A 0.9% Medicare tax may apply to earnings over $200,000 for single filers/$250,000 for joint filers.

How do I pay payroll as self-employed?

  1. Step 1: Have all employees complete a W-4 form. … 
  2. Step 2: Find or sign up for Employer Identification Numbers. … 
  3. Step 3: Choose your payroll schedule. … 
  4. Step 4: Calculate and withhold income taxes. … 
  5. Step 5: Pay payroll taxes. … 
  6. Step 6: File tax forms & employee W-2s.

Alternatives: Outsource payroll services with a trusted payroll provider with a reliable and trusted company, like TPC The Payroll Company HR Consultants. Contact us today to learn more!