Payroll

Payroll can be a frustrating, time consuming process that does not add value to your business. Cromwell & Company can take the frustration out of this process.

Full service payroll works best for clients that are very busy and do not have time to worry about payroll. The client will have minimal involvement with the payroll process. Generally clients will provide payroll information to our office. Information would generally be provided in the form of hours or amounts that will then be processed through payroll. Additionally other adjustments may be necessary such as withholding for medical insurance, 401(k) plans, and other employee benefit plans.

Full service does not mean full cost. Our fees in some instances are more competitive than some of the national payroll firms such as ADP and Paychexs. Additionally, you get personalized service that you would not receive otherwise from the larger payroll processors. Finally, one major advantage with regard to our payroll services is that the tax amounts will not be impounded at the time payroll is run. Most payroll processors will take not only the net payroll for the employees but the total taxes required for the payroll regardless of the frequency with which you must deposit the payroll taxes. For smaller employers, the tax payments may be due only once per month or once per quarter. The payroll processor however, will have access to those funds until they are due to the taxing authority.

Regardless of what service provider you choose to prepare your payroll be sure you are comfortable with your provider especially if the provider impounds your tax liabilities at the time your payroll is processed. If the unfortunate were to occur and the payroll provider were to impound your tax liabilities and then declare bankruptcy, the employer is still responsible for making the payments to the tax authorities. There are numerous court cases confirming this unfortunate outcome.