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How can an Accountant Help with the Payroll for a Start-Up?

25 Aug by Coffey & Co

When starting a new business, there are many things you need to do. You can hire employees, find office space, and plan your budget. One thing to remember is to pay people who work for you. Luckily, your accountant can help with this! Read on.

Here are four ways they can help with your start-ups payroll. 

Filing taxes: Your accountant will ensure that you file all the necessary paperwork with the IRS and state government. That includes filings for withholding taxes, unemployment insurance, and other applicable taxes.

Payroll services: Many accountants offer full-service payroll processing. That means they will handle all aspects of paying your employees – from issuing paychecks to tracking hours worked to filing tax forms.  

Advising on wages and benefits: Your accountant can advise on what to pay your employees as wages and benefits. They can help you stay in compliance with local and federal laws governing wages and working conditions.

Helping set up systems: If you’re not familiar with payroll procedures, your accountant can help set up systems that make it easier for you to manage employee payments. They can also recommend software or online tools to use for tracking employee hours and expenses.

 What is Payroll, and why do you need it?

Payroll is the process of figuring out and giving employees their wages and salaries. That includes calculating deductions for taxes and other withholdings and issuing payments regularly (usually biweekly or monthly).

Paying employees is very important for any business. It makes sure that everyone gets paid on time and accurately. A well-run payroll system can help boost morale and reduce turnover, while a poorly run system can cause many problems for your business. So if you’re based in Limerick, or anywhere else in Ireland, you can consider startups accounting services Limerick to get your financial affairs in order.

  Some prominent benefits of using an accountant  

  • Handling payroll can be a lot of work and complicated too
  • An accountant can help ensure it is processed correctly and on time.
  • They can also provide valuable advice on tax savings and deductions that benefit your business.
  • Accountants can help you understand and follow all the laws and regulations.
  • They can also provide support during an audit if one were to take place.

Overall, using an accountant for this provides peace of mind and many other benefits that could save you time and money in the long run.

 Get the Right Accountant for your Business

As a business grows, it will need more help with financial matters like payroll. That is where an accountant comes in. An accountant can provide much-needed support as it begins to scale.  If you need help with your startups accounting services Limerick, be sure to visit our website. We offer services for startups in Limerick. We would be happy to discuss your needs and provide you with the guidance you need to make sound financial decisions for your business. Thanks for reading!

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