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Payroll Administration
Howard Leasing eliminates the hassles associated
with payroll management. Many of our clients
find the time they used to spend running
payrolls can now be devoted to expanding and
improving their businesses.
How it Works
1. Report work hours
several ways:
a. Fax time sheets directly to our payroll
department
b. Transmit data from a time clock
c. Transmit data from desktop payroll software
d. Transfer data to our computer system utilizing
customized payroll software
2. Deliver paychecks
and payroll reports
Once we have the work hours, we produce
employees’ paychecks and deliver the payroll
directly to you. It’s as easy as that!
Our advanced software system gives us the
flexibility to handle virtually any employee
compensation schedule and payroll reporting
needs such as labor distribution, job costing,
sick days, vacation time, probationary periods,
commissions, advances, garnishments, and
benefits deductions. We also have the capability
of depositing paychecks directly into your
employees’ bank accounts. With this valuable
support system at your fingertips, you can
concentrate on what you do best – growing your
business!
Howard
Leasing takes care of the entire process from
printing checks, paying taxes and producing
payroll requests; you simply distribute the
checks.
Payroll Liability Costs
No one plans to miss a deposit, forget to
file a form, or fall behind on regulatory
changes. Unfortunately, just one error can cost
thousands of dollars. We assume the
responsibility for making all required state and
federal employment tax deposits and process
quarterly and annual payroll tax reports. You
will never have to face late penalties again.
The following are examples of the penalties that
will be incurred for late filings:
Late Deposits:
1 to 5 days late
6 to 15 days late
16 or more days late
Paid within in 10 days of first IRS
notice
Paid to an unauthorized institution
Paid to IRS when required to be paid to
a bank
Paid without a federal ID#
Paid more than 10 days after the first
IRS noticeLate Filing Payment of
941:
Each month or part of a month
Maximum
Trust fund recovery penalty:
If income or FICA taxes are required to
be held
And are not, or are not paid to the IRS
W-2 issuance and filing:
Employment tax record retention: |
2% penalty
5% penalty
10% penalty
10% penalty
10% penalty
10% penalty
10% penalty
15% penalty
5% penalty
25% penalty
100% penalty
up to $100 per statement
up to $100,000 |
Payroll Administration Issues
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Your
Current Situation |
With
Howard Leasing |
- Compute Hours
- Compute Taxes
- Enter Deductions
- Enter Deduction Charges
- Process Payroll
- Breakdown/Separate Checks
- Sign Checks
- Put Checks into Envelopes
- Transfer Money into Payroll Account
- Complete Tax Deposits
- Take Tax Deposits to the Bank
- Handle Tax Deposit Inquiries
- Research any Penalty or interest
- Reconcile Payroll Bank Account
- Order Payroll Check Stock
- Complete Unemployment Tax Payment
- Complete quarterly IRS Form 941
- Complete Quarterly State SUI Tax Reports
- Complete Annual IRS Form 941
- Complete Annual IRS Form W-3
- Compute, Complete & Distribute W-2’s
- Verify W-4’s on New Employees
- Verify I-9’s on All Employees
- Verify State Forms on New Employees
- Verify Section 125 Enrollment
- Verify State Forms on all Employees
- Update Section 125 Enrollment
- Verify State Forms on all Employees
Update Section 125
- Enrollment Update FICA Changes
- Update Unemployment Tax Changes
- Set-up Garnishment Amounts
- Process Garnishment Deductions
- Send Garnishment Checks to Court
- Verify Workers’ Compensation Percentages
- Verify Workers’ Compensation vs.
Overtime
- Terminate Employees from Payroll
- Set up & Administer Section 125 medical
& Childcare Accounts
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- Compute Wages
- Report Wages
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Payroll
Management Detail of Services
- Prepare and distribute paychecks
- Make direct deposit available to employees
- Distribute year-end W-2s
- Maintain payroll changes, deductions,
garnishments and advances
- Make federal and state tax deposits
- File tax reports – FUTA, SUTA and quarterly
and advances
- Provide payroll reports
- Provide time clock interface
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