PAYROLL SERVICES

In a company, payroll is the sum of all financial records of salaries for an employee, wages, bonuses, and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time. Payroll plays a major role in a company for several reasons.

Payroll and payroll taxes considerably affect the net income of most companies and they are subject to laws and regulations. The primary mission of our payroll service is to ensure that all employees are paid accurately and timely with the correct withholdings and deductions, and to ensure the withholdings and deductions are remitted in a timely manner. This includes salary payments, tax withholdings, and deductions from a paycheck.

When you have employees, you need to make timely federal tax deposits because most of the money belongs to your employees. If you make these deposits late you will receive a penalty up to 15%, in addition to 5% penalty for failure to file. TAXokay will help you with your Payroll Tax filings