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Simplifying Payroll

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A summary of payroll options for small businesses

As a business owner, you often have to wear many hats, like hiring manager, customer service manager or vice president of operations. With all these responsibilities, it's hard to find the time to do what's most important - building business and sales. One of the most time-consuming roles you may have to take on is payroll manager. Due to the time involved in processing payroll, calculating pay, setting up direct deposits and paying taxes, many employers are choosing to outsource payroll, freeing themselves to work on other aspects of their business.

If you think that you might benefit from outsourcing payroll, it's important to do your homework and understand the options available to you. According to Focus.com, these are some of the most popular:

Choose carefully

When shopping for payroll providers, be sure to choose one with experience in tax filing and payment. According to Focus.com, the IRS estimates that the average business spends $845 in penalties on miscalculated taxes. Talk to your accountant or tax advisor before making any major decisions.

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