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Running a business means making many decisions, and bookkeeping is one of the most important. Still, common myths about bookkeeping can lead business owners to make mistakes or miss opportunities to grow. Warren Accounting Group would like to clarify the confusion and identify what you need to know.

Myth #1: Bookkeeping Is Just About Tax Time

The Truth: While accurate books are essential for tax preparation, bookkeeping serves a much broader purpose. Your financial records are the pulse of your business, providing real-time insights into cash flow, profitability, and fiscal well-being. Good bookkeeping helps you make smart decisions about hiring, investing, pricing, and expansion throughout the entire year—not just in April.

If you wait until tax season to organize your finances, you risk missing early signs of problems or chances to grow your business.

Myth #2: Bookkeeping and Accounting Are the Same Thing

The Truth: These terms are often used interchangeably, but they represent different functions. Bookkeeping is the systematic recording of daily financial transactions—tracking income, expenses, invoices, and payments. Accounting takes that data, analyzes it, prepares financial statements, provides strategic advice, and handles complex tax planning.

Bookkeeping is the foundation, and accounting builds on it. You need sound bookkeeping before accounting is useful.

Myth #3: Small Businesses Don’t Need Professional Bookkeeping

The Truth: This is one of the most harmful myths. Small businesses often benefit even more from professional bookkeeping than large companies. When you run a small business, every dollar counts, and financial mistakes can have serious effects.

Professional bookkeeping helps you find all possible deductions, avoid expensive mistakes, understand your real profits, and gives you more time to focus on running your business.

Myth #4: You Can Handle Bookkeeping “When You Have Time”

The Truth: You cannot do bookkeeping only occasionally and expect good results. If you do not keep up with your books, you may forget transactions, lose receipts, and not have a clear view of your finances.

Successful businesses treat bookkeeping as a regular, non-negotiable task—whether that’s daily, weekly, or monthly depends on your transaction volume. Consistency is key. When bookkeeping becomes an afterthought, errors multiply, and financial clarity disappears.

Myth #5: Bookkeeping Is Too Expensive for Startups

The Truth: Bad bookkeeping often costs more than hiring a professional. You could miss tax deductions, face IRS penalties, have cash flow problems, make poor business decisions, and spend hours on finances instead of growing your business.

Professional bookkeeping is an investment that typically saves you money through improved financial management, tax savings, and time savings. Many bookkeepers offer services that can fit a startup’s budget.

Myth #6: If Revenue Is Coming In, Your Business Is Healthy

The Truth: Revenue is only part of the picture. A business can have high sales but still lose money due to high expenses, poor pricing, late client payments, or inventory issues. What matters most is how much profit you keep after expenses.

Good bookkeeping reveals the complete picture: Good bookkeeping shows you the full picture: your profit margins, where your money goes, which products or services make money, and whether your resources are growing or shrinking. Cash flow, not just revenue, decides if you can pay your employees next month.

Even if you are good with numbers, bookkeeping has its own rules and best practices that have developed over many years. Getting proper guidance from the professionals at Warren Accounting Group will save you time, money, and stress.

The Bottom Line

Bookkeeping may not be exciting, but it is essential for business success. Successful businesses make bookkeeping a top priority, not just a routine task. They maintain accurate, up-to-date records, seek professional help when needed, and use their financial information to make better decisions.

Don’t let myths shape how you handle bookkeeping. Start right, and you will build a stronger, more lasting business. Your future self and your accountant will thank you. For more information about the services offered by Warren Accounting Group, call us today at 252-827-5259.

Getting a Form 1099 with errors is frustrating, but you need to deal with it quickly. No matter what the mistake is, you still have to report your income correctly to the IRS. Here’s how to fix 1099 errors and stay on the right side of your tax obligations.

1. Identify the Error

Start by comparing the Form 1099 to your own records—receipts, bank statements, emails, whatever you’ve got. Figure out exactly what’s wrong: is it the amount, your Social Security Number, your name, or the wrong type of form? Have your documentation ready when you ask for a correction.

2. Contact the Issuer Promptly

Reach out to whoever’s listed as the “Filer” on the form. Give them a call first, then follow up in writing—certified mail is your best bet for keeping a paper trail. Send copies of your supporting documents and ask for a corrected Form 1099 with the “CORRECTED” box checked. Keep everything: all the emails, letters, and the original 1099.

3. If the Issuer Does Not Cooperate, Contact the IRS

If you’ve tried a few times and still haven’t heard back, call the IRS at 800-829-1040 and tell them what’s going on. They’ll reach out to the payer themselves, and you’ll have proof that you did everything you could to fix it.

4. File Your Tax Return Accurately and On Time

Don’t miss the tax deadline just because you’re waiting on a corrected 1099. File on time and report what you actually earned. If your numbers don’t match the 1099, add a note explaining why and what you did to fix it. For 1099-K errors specifically, put the amount on Schedule 1 (Form 1040), Line 8z, then add an offsetting adjustment on Line 24z with something like “Form 1099-K received in error.”

5. File an Amended Return If Needed

If you get a corrected 1099 after you’ve already filed and it changes your tax situation, file an amended return using Form 1040-X to set things straight.

6. Key Points to Remember

• The payer should fix their mistakes, but at the end of the day, you’re the one responsible for reporting your income correctly and explaining what went wrong.
• Keep good records of everything, all your correspondence and supporting documents.
• If you’re still waiting for that correction when Tax Day rolls around, you can file for an extension. Just make sure you pay whatever you owe by the original deadline, so you don’t get hit with penalties.
• Mistakes happen, but you need to act fast.

Conclusion

Form 1099 errors happen all the time, but they don’t have to derail your tax season. Follow these steps, and you’ll get things sorted out while staying compliant. Move quickly, keep good records, and stay in clear communication with the filer and the IRS. If you need help, Warren Accounting Group is here to guide you through it.

Strategic planning is crucial for businesses of all sizes. It serves as a roadmap for growth and development, helping business owners set clear goals and define their path for the next three to five years. Many entrepreneurs, however, often find themselves unsure about the meaning and significance of strategic planning and how it can enhance their business operations.

At its core, a strategic plan helps business owners outline their vision for the future and chart a course to achieve it. In a competitive market, having a well-defined strategic plan can significantly mitigate confusion and disarray, guide you through potential challenges, and enhance your chances of success.

Understanding Strategic Planning

At its core, strategic planning is an overarching framework that not only influences high-level decisions but also guides daily operations. It provides clarity, direction, and consistency, enabling business owners to focus their energy on achieving specific goals. The components of an effective strategic plan can differ based on the size and nature of the business. Typically, smaller companies create more streamlined plans.

A critical element of a strategic plan is the action plan, which clearly defines business objectives. This section details tasks, assigns deadlines, and allocates responsibilities to team members, ensuring everyone knows their role in achieving the company’s goals.

The Importance of Strategic Planning

Many small business owners mistakenly believe that strategic planning is only beneficial for larger companies. However, the truth is that all businesses, regardless of their size, can reap considerable benefits from a carefully crafted strategic plan. One of the key advantages is that it can rekindle the passion and motivation that inspired entrepreneurs to start their business in the first place.

Through strategic planning, business owners can conduct a SWOT analysis to examine their strengths, weaknesses, opportunities, and threats. By understanding where the company stands in relation to its competitors, owners can pinpoint areas for improvement and develop targeted tactics to boost performance. Furthermore, having a paper trail of these strategies helps execute them effectively and track the results.

Distinguishing Between Strategic and Business Plans

It’s important to distinguish between a strategic plan and a business plan, as they serve different purposes. A business plan is a comprehensive document that includes elements such as marketing, financial, and operational plans, as well as the strategic plan itself. It addresses the fundamental questions regarding what a business aims to achieve.

On the other hand, a strategic plan focuses on how to achieve those objectives. Essentially, the business plan outlines your goals, while the strategic plan details the pathway to reach them.

Measuring Strategic Success

Understanding how to assess the results of your strategic initiatives is essential for determining if you’re on the right track. Key Performance Indicators (KPIs) are valuable tools for measuring outcomes and can include metrics such as sales growth, revenue, customer acquisition, and client feedback.

The frequency of strategic planning reviews varies between businesses. Some organizations might opt for an annual review, whereas others may conduct strategy sessions when launching new initiatives. Regardless of the approach you choose, regular check-ins and assessments will help ensure that your business remains focused and achieves its long-term objectives.

Strategic planning is not just a luxury for larger enterprises; it is a vital component of success for small businesses. By investing in effective strategic planning, entrepreneurs can better navigate market complexities and position their companies for future growth.

Growth offers opportunities but also increases complexity, particularly in payroll management. What started as a simple task—issuing a few checks — can quickly become much more, including tax compliance, benefits management, and technology integration.

Payroll errors can lead to more than financial losses and employee dissatisfaction; therefore, growing companies need to get payroll right. So, many turn to firms like Warren Accounting Group for expertise, ensuring accuracy, compliance, scalability, and time savings.

Understanding Payroll Complexity

As businesses grow, payroll management becomes more complicated. A company with five employees may face minimal challenges. But as the company expands to 10, 20, or more employees, payroll can become a full-time job. Employers must accurately calculate wages, manage deductions, track overtime, and comply with various tax laws.

Firms that handle payroll processing are well-equipped to navigate growing businesses’ complexities, employing dedicated teams and advanced systems that reduce errors and improve efficiency.

Supporting Growth

One of the main reasons to outsource payroll to a firm such as Warren Accounting Group is our scalability. In-house systems struggle to keep up as your business grows, making it difficult to manage new employees and benefits. We are equipped to handle expansion, offering customized solutions to meet your needs and ensuring payroll remains efficient and does not hinder your growth.

Managing Payroll Accuracy

Payroll accuracy is crucial. Employees expect timely, error-free paychecks, and government agencies demand precise tax filings. A single mistake can lead to employee complaints or IRS penalties, costing small businesses billions of dollars every year.

Warren Accounting Group helps ensure accuracy through verification systems, automated calculations, and regular audits, minimizing errors. We handle all aspects of payroll, from garnishments to benefit deductions, ensuring no detail is missed. This reliability is essential for growing businesses.

Ensuring Compliance

Payroll is subject to complex, ever-changing regulations. Federal laws like the Fair Labor Standards Act (FLSA) set wage and overtime rules, and state and local governments add their own requirements. Businesses must also handle tax obligations, reporting deadlines, and employee classifications. Keeping up with these can be difficult for business owners. That’s why relying on Warren Accounting Group for payroll services is a wise choice. We stay up to date on regulatory changes and ensure your payroll remains compliant at all times.

Talent Shortages

Finding qualified payroll professionals is becoming increasingly challenging due to the rising demand for accounting expertise. The Bureau of Labor Statistics projects a 6% growth in accounting jobs from 2023 to 2033, intensifying competition for payroll and accounting talent. By outsourcing payroll, you bypass the recruitment struggle and gain access to a team of experts without the costs of hiring, training, and retaining in-house staff.

Alleviating Your Burdens

Payroll can be a time-consuming task, involving calculations, tax filings, and paycheck distribution. For growing businesses, managing these tasks can distract from core functions like product development, customer service, and sales. Outsourcing payroll will alleviate this burden, allowing your team to focus on strategic initiatives that drive revenue and growth.

Partnering with Warren Accounting Group

Warren Accounting Group offers tailored payroll solutions for growing businesses. Our experienced team combines industry knowledge with advanced technology to ensure your payroll is accurate, compliant, and scalable. By partnering with us, you gain a trusted advisor focused on your success.

Payroll is crucial, and for growing businesses, errors and compliance issues can hinder progress and damage reputations. With Warren Accounting Group, you receive accuracy, compliance, and expert guidance, freeing you to focus on business growth. As demand for accounting professionals rises, outsourcing payroll is essential for sustainable success. Partner with us today and let our team handle your payroll efficiently.

Starting your own business is no easy feat, as many business owners are responsible for managing every aspect of their business, from answering the phones to handling finances. Your plate is full! The best way to become comfortable in your new role as a business owner is to start with the basics. Keep reading to learn what accounting essentials you should know as a new business owner!

Set up a System

The first step to get your accounting in order is to set up a structured system that works for you. Having a specific process to follow when managing the financial aspects of your business makes it much easier to establish a routine. Research different software to find out which one is right for you, set up your charts and accounts, and begin recording your transactions, invoices, and revenue. Create a system where you perform the same actions every day, week, or month. Ensure that your system is set up for long-term use and will be easy to maintain over time.

Develop Cash Flow Management

Develop a cash flow management strategy as soon as possible. This is the key to maintaining your business’s financial health and staying on track. Keep an eye on outstanding invoices so you know how much money you are owed and from whom. Establish a savings plan for unexpected expenses and create a cycle for managing your payments. When your cash flow is developed and positive, there is money being moved in and out of your business, which is a good thing. Having a negative cash flow means you have more money going out than coming in, which is not a profitable situation. A positive cash flow means that you can grow your business and maintain success even in slower times. To manage cash flow, pay close attention to cash coming in and going out, track growth and make predictions, control expenses, and follow up on money owed to you.

Plan for Taxes

For many business owners, tax season can be a stressful, challenging, and overwhelming experience. To avoid these frustrations, it is essential to be proactive and plan for tax season in advance. Set aside cash specifically for taxes so that you are prepared when payments are due. Know which taxes apply to you, understand the tax laws, and be aware of any changes. Stay on top of the deadlines. Being well-prepared for tax season and having all the necessary records and receipts readily available will save you plenty of time and money in the long run.

Keep Records and Stay Organized

A key factor in good accounting is being organized. Maintaining accurate and up-to-date records can significantly ease your life, and staying organized is the first step. Make it a habit to record all transactions and reconcile accounts regularly. Staying on top of your business’s financials helps avoid errors and provides reliable information, enabling you to make informed financial decisions. Additionally, the more organized you are, the faster you will be able to complete your accounting.

Annual Tasks

There are several tasks you should consider doing annually to help you stay organized. Review your past-due receivables, review your inventory, complete any necessary tax forms, and analyze your financial reports for the entire year. Having accurate lists and information to refer back to helps in the future and can help you avoid penalties, fees, and interest.

As you begin your business, becoming familiar with the various aspects of accounting and financial management is crucial. Warren Accounting Group can help you determine the best way to get started and help you manage your financial tasks with ease. Our team is committed to helping you grow your business, one step at a time. From first-time business owners to seasoned entrepreneurs, our services are tailored to fit your specific needs. Contact us today to learn how we can assist you, 252-827-5259.

Many business owners could benefit from reduced costs in some respects. When deciding where to cut costs, many do not even consider how payroll or accounting factors into these expenses. Outsourcing your payroll and accounting can significantly eliminate certain costs for business owners. Keep reading to find out how outsourced accounting could benefit you, and the hidden costs that are associated with in-house accounting!

Expertise & Compliance

When you outsource your accounting and payroll, you save in many ways. With the help of an accounting firm, you have access to a team of experienced accountants who can answer any questions you may have, offer professional guidance and advice, and help you make informed and knowledgeable decisions. With ever-changing regulations, it is vital to be fully compliant. With an accounting firm, you can be sure that your books are up to date, rules are being followed, and mistakes are avoided. Hiring a firm gives you peace of mind that a group of professionals is dedicated entirely to ensuring that your accounting is accurate. When mistakes are prevented and compliance is followed, you avoid expensive fines, fees, and legal liabilities. When you outsource your accounting, you can focus on growing your business and trust that your finances are being handled with care and expertise.

Increased Efficiency

With the help of an accounting firm, you can appreciate the way your tasks and responsibilities become streamlined. When you hand off the financial duties of your business to a professional, you free up time for yourself and your team to focus on the specific details and development of your business. A dedicated team of accountants has the means to use specific software and technologies to prepare your finances efficiently and adequately. Forget the late nights spent reconciling accounts and going through old receipts! Your business and your team will run much more efficiently, allowing you to spend more time on other aspects of the business.

Hidden Costs with In-House Accounting

Some business owners may believe they are saving money by having their accounting done in-house, but there are many hidden costs associated with this strategy. First, consider the hiring, training, and payment expenses of an in-house accountant. Most businesses also have to pay for specific software or technology, including secure networks and subscriptions. These services are usually necessary for businesses to make the accounting process smoother. Or, if you are a business owner who handles your finances on your own, you should consider the endless amount of time it takes to get your finances in order, ensure compliance, and run a business on top of everything. This is an overwhelming task and can take a toll on you in more ways than one. Outsourcing your accounting can save you time, energy, and money in the long run!

If you are looking for a professional firm to outsource your accounting and payroll, Warren Accounting Group can help! Our team is dedicated to financial solutions that make your life as a business owner easier and more flexible. When we work together, we consider your business our top priority, and we offer strategies and advice to help guide you to a brighter and more manageable financial future. If you have questions about outsourcing or would like to learn more about how we conduct business, don’t hesitate to get in touch with us today at 252-827-5259.

Business owners face considerable pressure and stress when building their companies. What if there was a way to delegate while still overseeing every aspect of your business? When you outsource some of your most significant, time-consuming responsibilities, like your financials, you can focus on other tasks. So, when it comes to outsourcing, what kind of help do you need: a bookkeeper, an accountant, or both? There are stark differences, and we’ve broken down the tasks and responsibilities for each below to help you make an informed decision. Keep reading to find out more about the differences between an accountant vs. a bookkeeper!

Bookkeeping

In a business, bookkeeping helps maintain financial health and drive growth. Regular bookkeeping ensures you are always aware of your business’s current financial status. Having a bookkeeper can benefit you in the long run, enabling you to make informed decisions, meet requirements and goals, and comply with state and federal regulations. This job requires organization and a basic understanding of financials. Other bookkeeping tasks typically involve:

• Recording sales and purchases
• Reconciling statements and accounts
• Paying suppliers
• Creating and organizing financial reports
• Documentation records
• Running payroll
• Tracking invoices

Accounting

An accountant uses the data recorded to make recommendations and offer valuable insights into the company’s current financial standing. Having an accountant means understanding how your business is performing, being aware of areas where you excel and areas that need improvement and having peace of mind that your overall financials are being monitored and taken care of. Accountants provide information and perform various tasks, including:

• Tax advice, recommendations, and liabilities
• Filing income tax returns
• Flag any inconsistencies
• Monitor and develop budgets
• Work with auditors

Do you need an accountant or a bookkeeper?

Many business owners handle their bookkeeping and accounting but often find it frustrating and time-consuming. Some may even put the task off for as long as possible, making it harder to stay on track. When you are focused on growing your business, it can be easy to put other tasks on the back burner, but it can eventually affect the health of your business, and maybe even cause significant problems when it comes time to file taxes. The roles of bookkeeping and accounting are crucial parts of managing a business’s finances, maintaining accurate records and statements, and ensuring compliance. If you find yourself struggling to do it all as a business owner, the good news is that you don’t have to anymore!

Warren Accounting Group can help with any accounting or bookkeeping needs you may have. Our team is dedicated to providing helpful and efficient solutions to each client, giving you the time and resources you need to focus on what you do best – running your business. Speak with one of our team members today to see how we can help guide you to a brighter financial future, 252-827-5259.

Accounting and bookkeeping can be a complicated and stressful task. There are many forms to track, terms to know, and new practices to keep up with. Understanding the jargon can help you better understand your business’s bookkeeping and financial status. We’ve put together a list of accounting terms you need to know to help you stay on top of things!

Accounts Payable refers to the money that the business owes. Any unpaid bills and expenses are considered accounts payable and, technically, debt. These are listed as short-term liabilities on your balance sheet.

Accounts Receivable refers to the money that is owed to you for services that you have provided but have not yet received payment for. Monitoring and managing your accounts receivable ensures you maintain a positive cash flow. This is classified as an asset on your balance sheet.

Accruals are known as bills that you have not paid yet, or sales that you have made that have not been paid. In reference to your balance sheet, think of accruals as outstanding services or sales that you have not yet received a bill or payment for.

Assets are known as any items that your business owns that have value, including vehicles, cash, and property.

A Balance Sheet is a list that shows your assets compared to your equity and liabilities. A balance sheet helps you monitor the health of your business, keep track of cash flow, and monitor overall finances. Keeping your balance sheet updated allows you to make informed and calculated decisions when it comes to payments, investments, and risks.

Cash Flow refers to the money that flows in and out of your business, including income and expenses. Keeping track of your cash flow is an essential part of understanding the financial state of your business.

Expenses refer to the money that you spend to keep your business running and functioning. Expenses may include the cost of your goods, the rent and upkeep of your building, any office supplies, and payroll.

Equity is the value that remains after liabilities are removed or paid. To determine equity, you should subtract your liabilities from your assets.

Income Statements show the amount you have spent and the amount you have made at any given point. Income statements are used to monitor and report revenues and expenses, and show profit or loss earned.

Liabilities refer to debts that your company owes to someone else. There are two categories: short-term liabilities (accounts payable or credit card balances) and long-term liabilities (loans).

Return on Investment (ROI) refers to the profit your business makes from something you invested in. For example, your ROI is divided by the investment you put into it. In short terms, it is the amount you make back after investing in something for your business. It’s essential to track ROIs to know what investments are worth making and what investments you should change.

Even if you are a pro when it comes to bookkeeping language, it can still be a daunting task to constantly update, track, and review your bookkeeping and finances. Trust Warren Accounting Group to help! We offer a variety of services to take some of the stress off of you so that you can focus on your business. For more information on our accounting and bookkeeping services, give us a call!

Running a business means that you are your own boss, but you don’t have to handle everything yourself. If you’ve been responsible for your business’s bookkeeping, you know how difficult it is to manage on top of everything else that comes with being a business owner. So, when is the right time to hire a bookkeeper to take over? Keep reading to find out!

You Have Unpredictable Cash Flow

Unpredictable cash flow can occur when invoices are left unpaid or receipts are not adequately accounted for, resulting in outdated and incorrect financial records. If you are unable to pinpoint your business’s cash flow at any given moment, you may not be aware of just how much you are earning and spending. Hiring a professional bookkeeper can help you accurately gauge your business’s success and adjust as needed to promote growth and success. When you track your cash flow, you can analyze your expenses and know exactly where you stand. By hiring a bookkeeper, you gain access to accurate and up-to-date financial data, ensuring your books are reliable and current.

Tax Season is on the Horizon

If your files and books are in disarray, the last thing you should do is give them all to your accountant with just a few weeks to prepare everything. To organize and sort through everything, your accountant will need plenty of time to get the job done. To prevent a big, expensive mess, consider hiring a bookkeeper well before it’s time to file your taxes. With a professional bookkeeper on top of your books, you can be sure that your accountant has everything they need, and you have everything filed away in case of an audit. This will save your accountant time and energy sorting through your files and prevent you from paying a hefty charge. Simply put, a bookkeeper will ensure that your receipts, invoices, files, and documents are readily available and accurate, so you never have to wonder where your business stands.

You Have Experienced Errors

Are you struggling to keep your books up to date? Is tax season a nightmare every year because you struggle to locate certain files? Perhaps you are unsure of your current business margins? All of these indicate it is time to hire a bookkeeper! If you are unable to pinpoint the health of your business, then you are not financially aware of its state, meaning you are operating at risk. With a bookkeeper on staff, you have access to all the necessary information and can make informed, well-educated decisions.

You Have No Time

Have you found yourself struggling to make time for your actual job duties because you are caught up in bookkeeping? This may be a sign it’s time to hire a bookkeeper. The success of your business may depend on outsourcing your bookkeeping responsibilities. When you notice that bookkeeping has taken time away from your main priorities, it may be time to consider hiring. As a business owner, we understand that your goals are aligned with achieving success and growing your business, rather than getting bogged down in paperwork and invoices. If you’re experiencing stress and burnout with no time to focus on anything but bookkeeping, Warren Accounting can help.

Let Warren Accounting Group take care of any and all bookkeeping needs, including invoices, checks, receipts, and statements. Enjoy monthly, quarterly, or yearly financials, so you know exactly where you stand at all times. Ready to get started? Contact us today at 252-827-5259!

Outsourcing payroll can be a great solution if you’re trying to save time and money. You may be under the impression that doing your own payroll is cost-effective, but you may be spending more! When you do your own payroll, you may be spending your time on a tedious and time-consuming task that could be done more efficiently by someone else so that you could be focusing on your business. Still not sure? Below, we’ve broken down some benefits of outsourcing your payroll!

Time

Outsourcing your payroll will save you in more ways than one. Having a staff member handle the taxes and payroll of your business means that person is focusing on those tasks instead of their actual job role. Hiring a payroll company to handle your finances may cause a spike in efficiency for that team member, who has more time to handle their workload. It can also take up tons of time trying to understand the ins and outs of payroll duties. You must also consider the constant changes in rules, the hours it takes to calculate and input data, and updating the software you use to ensure accuracy. Overall, the amount of time spent on payroll and accounting services is significant and takes away from focusing on increasing revenue.

Compliance

Completing payroll entails taxes and accounting compliance that can be difficult to understand and keep up with. Many of these laws change constantly and staying up to date is significantly important to avoid fees and penalties. When you choose to outsource your company’s payroll, you can trust that a tax expert is handling the many complex ins and outs to ensure your information is accurate and in accordance with the law. Avoid expensive mistakes and inaccurate calculations when you trust an accounting firm to handle your payroll. When you outsource, you don’t have to feel pressured to learn about tax adjustments or how to access benefits – you have the opportunity to focus solely on growing your business.

Cost

Most people believe the cost of doing their payroll is less than hiring a professional firm, but this is not necessarily true. For one, when you are spending time doing your payroll, you are spending time away from your business, which can result in spending less time making a profit. You also risk making a mistake and owing money to the IRS. Consider the cost of the payroll software you use, and how much you are charged to use it. Most small businesses do not typically have a designated payroll specialist on their staff due to the associated costs, including salary, training, and bonuses. Either way, the additional cost of handling payroll yourself is significant. Instead, consider outsourcing. You will save yourself time, money, and headaches when you let the professionals handle your payroll.

The team at Warren Accounting Group is experienced and knows how to help you get the job done right. Our staff is trained in quality payroll services, up to date on modern compliances, and can navigate your business’s specific needs. We can simplify your payroll so your role as a business owner is more manageable. Contact us today to see how we can help: 252-827-5259.