Payroll Services NYC – Finest Payroll Reporting Company in New York

Every company is made up of any number of employees. It can be as little as one and can go all the way up to a million or maybe more. So, the higher the number of employees, the harder it gets to manage the salaries of those people. It is where we come in with the finest payroll services NYC. We provide a vast range of payroll processing services in NYC to help you manage your taxes, pay your employees correctly, ensure timely payments into retirement plans, as well as to report regularly to the concerned authorities.

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Payroll

Payroll:

  • Tax King Service offers to manage all the payments you need to make to your employees.
  • We ensure that they will be timely and in the medium you choose.
  • Our firm also ensures that we have deductions for retirement plans for the employees.
  • If your company offers bonuses, we ensure that we have added to the pay of the respective people.
  • If your company policy dictates that you can make pay deductions in certain conditions, we make it possible for you.
  • We make payments via these two methods:

Check Mailing:

  • In it, we mail the checks to the listed addresses of the employees.
  • In this way, we ensure that employees have redeemed the checks from the company’s account.
  • It saves the risk of carrying money around.
  • The check contains the net amount after the required deductions that we have made in the gross amount.

Direct Deposit:

  • This way, we directly transfer money from the company’s account to the respective employee.
  • Our accountants make sure that the authorized individual has deposited the correct amount or not.

Payroll Reporting:

  • After giving out salaries, we understand that reports need to be made so that you, the company’s owner, have a record.
  • We also need to mention payroll payments in the bookkeeping, more particularly in the balance sheet, as well
  • There are different frequencies through which we provide our reports, that are:

1. Daily:

  • If you choose this option, we will provide you reports daily.
  • Those companies choose this option usually that pay by the day.
  • Our accountants will ensure that the company pays the people on time, as we understand what a delay could cause problems.

2. Weekly:

  • If you choose this option, our accountants will update you about the payments, done weekly.
  • Companies that pay weekly, usually choose this option.
  • You can also choose this option even if you do not pay weekly and can still keep a check on any absentees, late arrivals, extra hours, etc.

3. Monthly:

  • It is our most common option that we offer to our clients while asking for payroll services NYC.
  • It is especially for companies that make monthly payments to their employees.
  • Our firm provides a comprehensive report of the salaries paid every month after completing deductions from the gross amount.

4. Quarterly:

We prepare these reports not only for the company’s owner but also for the particular government agency.

5. Sales tax:

  1. In it, we prepare a report of the sales tax generated in the three months.
  2. It is a comprehensive report made to the IRS so that it can be used for audit purposes and record maintenance.

Payroll Services NYC:

  1. The New York State expects that you will report them quarterly. It helps supervise the payroll of the company more effectively.
  2. It also helps to assess if the company is paying the correct amount or not.

1. Annually:

These reports are also made to the IRS and the NYS.

2. 1099:

  1. These are self-employed contractors.
  2. This tax form is specifically for them and must be reported to the IRS.

3. W2:

  1. It is the category of employees.
  2. This tax form proves that they do not need to pay tax on their payroll. It is because the employer has paid it already.

4. Federal payroll:

  1. The law dictates that tax be withheld from the employees by the employer, and payments should be made.

5. State payroll services NYC:

  1. Every state has its payroll and tax deductions and job category-wise salaries.
  2. Our firm abides by the laws set by the state of New York.

Where Are We Located?

Our accounting firm is situated in the state of New York. Our accountants cater to New York City and its five boroughs; Manhattan, Brooklyn, Bronx, Queens, and Staten Island.