Processing payroll is not only time consuming, but even the slightest mistakes can be costly
Processing the payroll is one of the most time consuming and complicated things that most every business has to do. There are many reasons it is smart to outsource this service to a specialist.
Each year at least 40% of business owners pay the IRS an average penalty of $845 for improperly filing their payroll taxes. They also overpay state and federal unemployment insurance by $1.45 Million each year.
Payroll processing requires 54 steps, eating up 40 to 60 hours of precious time each year for companies with only two employees! It is tedious work that requires constantly updating records, printing checks, answering employee questions and most of all, keeping up to date on current income tax withholding rates and filing timely reports.
Markwei Boye explained all of this at a recent seminar where he spoke to business owners. He covered the many reasons to use a payroll service company. He explained the necessity of having to remember what deductions should be taken, if a tax rate changed, or what to do when payroll doesn't balance. He discussed deadline hassles and IRS penalties.
Markwei says a business is never too small to need a payroll service; he has clients who have only one employee. He will process payroll timely and accurately; if he makes a mistake, the client doesn't pay; that is Markwei Boye's personal guarantee.
Markwei Boye provides an array of services including income tax preparation, accounting and bookkeeping, business and tax planning and IRS problem resolution services. He is also a financial planner who provides cash management planning, IRA planning, 401K planning and retirement planning.
Markwei Boye is the owner and CEO of Smart Business Int'l, P.L.L.C. He holds a Bachelors of Science degree in Finance from the University of Detroit Mercy, a Masters in Business Administration (MBA) from Wayne State University and recently completed his coursework for his doctorate degree in Business Management from Argosy University of Chicago. He also holds an Enrolled Agent designation -- a specialized license earned by individuals who have passed a rigorous examination administered by the IRS and has shown technical competency in all levels of federal taxation. Besides being a tax professional, he is also a financial advisor and owns Smart Financial Advisors, P.L.L.C, an independent personal financial planning and investment advisory firm.
Smart Business International, PLLC
Tax & Accounting Professionals
16250 Northland Drive
Suite 214
Southfield, MI 48075
Phone: 248.395.3388
Fax: 248.395.3389
Tax Savings Hotline: 1-888-271-3309
Email: info@smartbusinesspllc.com
Oakland County
--Addison Township, Auburn Hills, Berkley, Beverly Hills, Bingham Farms, Birmingham, Bloomfield Township, Clawson, Commerce Township, Farmington, Farmington Hills, Ferndale, Franklin, Hazel Park, Highland Township, Holly, Holly Township, Huntington Woods, Independence Township, Keego Harbor, Lathrup Village, Lyon Township, Madison Heights, Milford, Milford Township, Northville, Novi, Oak Park, Oakland Township, Orchard Lake, Orion Township, Oxford Township, Pleasant Ridge, Pontiac, Rochester, Rochester Hills, Royal Oak,
Southfield, South Lyon, Troy, Walled Lake, Waterford Township, West Bloomfield Township, White Lake Township, Wixom
Wayne County
--Belleville, Brownstown Township, Canton Township, Dearborn, Dearborn
Heights, Grosse Pointe Shores, Grosse Pointe Woods, Hamtramck, Inkster, Livonia, Northville Township, Plymouth, Redford Township, Riverview, Romulus, Taylor, Trenton, Wayne,
Westland, Wyandotte
Washtenaw County:
Ann Arbor, Bridgewater, Chelsea, Dexter, Manchester, Salem, Saline,
Superior Township, Whitmore Lake, Whittaker, Willis, and Ypsilanti
Livingston County:
Brighton City, Cohoctah Township, Deerfield Township, Green Oak Township, Handy Township, Howell City, Iosco Township, Village of Fowlerville, Brighton Township, Conway Township, Genoa Township, Hamburg Township, Hartland Township, Howell Township, Marion Township, Putnam Township, Unadilla Township, Village of Pinckney
Macomb
--Bruce Township, Center Line, Chesterfield Township, Clinton Township, Eastpointe, Fraser, Harrison Township, Lenox Township, Macomb Township, Mt. Clemens, New Baltimore, Ray Township, Roseville, Richmond ,Richmond Township, Shelby Charter Township, St. Clair Shores Sterling Heights, Utica, Warren
Comments(3)