Payroll Services In New Jersey

Many small businesses struggle with preparing payroll. When you work with the experts at Tom Ditullio Accounting, we will ensure that your payroll is accurate, meaning employees are paid the right amounts and on time. With our help, you can focus on other aspects of your business.

If you are a new business, TMD Accounting can help you establish your company’s accounting functions in all of the following ways:

Payroll is the compensation a company will pay employees for their work and hours. With payroll, the business must calculate the employee’s net pay, figure out taxes, and initiate payments to them. Whether you have one worker or several employees, you need to ensure that they are paid correctly. Plus, your business must keep accurate records for year-end taxes.

Our professionals regularly work with small businesses in numerous industries, providing us with a keen understanding of how to meet their needs and the laws and regulations that apply to them. Some of the industries we are experienced in working with include healthcare, professional services, automotive, construction, restaurant, hospitality, and more. We can help you understand the requirements that apply to your industry to help your small business thrive. 

Payroll is not a weekly event. There are several stages in the process. These basic steps include:

Determining the Pay Cycle

Businesses must decide the frequency of payments. Many employers choose to pay on a weekly, biweekly, or monthly payment cycle for their employee payments.

Collect Employment Information and Tax Documents
Before you can pay your employees, you need to gather vital documents from them to help with tax reporting. These documents include W-4 forms, state and federal withholding forms, and bank account information.

Calculate Gross Pay

A business will need to determine the employees’ gross pay before taking out taxes. An accountant can help recommend how your business can keep track of your employee’s time with a few tools.

Determine Net Pay

After calculating gross pay, a business will need to withhold taxes and other deductions from the employee. The result is known as the net pay for your employees.

Initiate Payment

If a business manually operates the payroll, they will cut a check and mail it out with a pay stub. However, some businesses pay through direct deposit, which means initiating a transfer of funds. Some companies take it a step further and manage their payroll service with online platforms that will send payments on a predetermined billing schedule.

Pay Taxes and Keep Records

Finally, all businesses need to pay state and federal taxes. Along with that, a company must keep a record of taxes and payroll.

Simplify Your Payroll Processing

With TMD Accounting, we can help with those payroll responsibilities. Trying to manage payroll alone can leave you vulnerable to IRS fines, late fees, and angry workers. When you use our services, our team will enter the employees’ information, hours, and wages. You don’t have to worry about filings or calculations; we handle all the payroll tasks for you.

When you have W-2 employees, you must pay a certain percentage of their wages to local, state, and federal tax agencies. Also, your company must match the amount paid to Medicare, FUTA, SUI, and Social Security taxes. You could try to calculate these taxes yourself, but these figures are complicated.

One mistake could land your business in trouble with state or federal agencies. You don’t need to worry about figuring out the proper calculations for your taxes and employees’ wages. We can help streamline your payroll process, including preparing W-2s and 1099s for your business.

Tom Ditullio Accounting offers payroll services to New Jersey businesses. By outsourcing your payroll, you can focus on essential tasks to help grow your company and plan for the future. Some of the payroll services we offer include:

Check Personalization

Add your company’s logo to personalize your business check. Personalization helps install a sense of professionalism and pride into your business.

Check Delivery with Sealed Envelopes

You never have to worry about delivering checks in the mail. We can help ensure the privacy of your employees by creating and sealing their paychecks in envelopes to maximize security.

Payroll Tax Preparation

Our team will work to prepare your payroll tax reports and returns. Our team can ensure that your payroll will meet all required deadlines so your business can avoid future tax issues.

Payroll Preparation

Preparing your payroll is simple with our services. We will take a few pieces of information to help prepare the payroll for your business. After that, our team will take care of the rest. You do not have to stress about another payroll period again.

Preparation of W-2 forms

When it comes time to prepare and deliver your employee’s W-2 forms, we handle the process for you.

Wage Garnishment

Unfortunately, wage garnishments can happen. We will make sure that wage garnishment is submitted to the appropriate parties.

Direct Deposit

If you want to cut payroll costs, consider offering direct deposits to your employees. You can reduce processing fees and eliminate fraud when switching your payroll over to a direct deposit option.

Automatic Check Signing

Signing every business check can be time-consuming and burdensome. With our automatic check signing services, we will affix a scanned signature to your business check, saving you time and money.

When you choose TMD Accounting for your New Jersey payroll services, you can reduce the burdens of calculating taxes, figuring out employees’ hours, handling wage garnishments, and adjusting paychecks. Our team will handle these responsibilities so that you can refocus your energy on those other vital tasks for your business. We are only a phone call away when you are ready to find relief from these complicated payroll duties. You can schedule an appointment with our payroll team by calling (856) 228-2205.