If you are a small business owner and doing your own payroll you are not spending your time in the best capacity. You have small business payroll options that can help you save money and time and improve the bottom line of your company. As the owner you make the final call on all business decisions. You main purpose is to drum up more sales and clients to keep your company operational. When you take time away from doing the things that make money you hinder your business. Instead of doing the job yourself why not hire someone in-house, get an automated software program, or outsource this to another company? It will reduce the headaches and help you make more money.
When you hire an employee they can be full time or part time. This will be determined on the actual amount of time it will take to do your payroll. The more workers that you have will add more time to cutting paychecks, and keeping records. That person will also be responsible to making sure that your part of the federal taxes and state payments are sent on your company's behalf. You do not want to get fined for being late.
If you decide to outsource you can negotiate an amount for performing these services. Most outsourced payroll companies handle hundreds of businesses. This is their core business. As they are experts they can do small business payroll much quicker than you alone would be able to. You may find that the money you spend it worth the added value of being able to spend your time where you are needed most.
If you are want your business to grow then you should consider all your small business payroll options. Rules and regulations constantly change depending on the federal government laws enacted each year. One must constantly stay up to date on what percentage of taxes, medicare, social security, unemployment insurance and withholding amounts need to be subtracted from paychecks. Getting someone else to do the job whether an employee or an outsourced company will help save you time and money.