PAYROLL COMPLIANCE: Lessons in Payroll with Charles Read

GetPayroll President, Charles Read shares his years of knowledge of the payroll landscape to the masses. today's lesson: Payroll Compliance.

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www.thepayrollbook.com

TRANSCRIPT:
A major component of payroll, that not enough people talk about is COMPLIANCE. Governments are imposing more, not less, requirements on companies to be the source of tax payments for the government rather than the government doing it directly. Remember 75% of all revenue collected by the IRS comes from payroll! In the year 2020, alone, the FFCRA, PPP, and 1099NEC are examples of the government imposing a whole new level of regulations and reporting without compensating companies for the work.

It is almost impossible for an individual to keep up with the changing payroll regulation landscape. They have to rely on others to keep up with all the changes, particularly in a multi-state environment, and let employers know what they need to know.

This is why we highly recommend outsourcing your payroll, to have one less thing complicating your goal of growing and maintaining your business.

In the past 30 years of owning my payroll business, we have always made it our mission to keep our clients in 100% Compliance with the IRS, even going all the way to disputing claims in tax court, if necessary.

If you’re interested in learning more about payroll compliance, check out our website at www.getpayroll.com or check my new book: The Payroll Book: A Guide for Small Businesses and Startups. Available at www.thepayrollbook.com, or wherever fine books are sold.