Southfield, Michigan (PressExposure) April 19, 2008 -- Markewi Boye, CEO of Smart Business Payroll, is a local payroll service practitioner who offers nationwide service. In a recent interview, he explained, âthe price you pay for a payroll service is important; but quite honestly, it's the least amount of risk you'll have with a payroll service.â Mr. Boye went on to discuss the items often overlooked and common mistakes made by small business owners who attempt to process their own payroll. âEach year 40% of small businesses pay an average penalty of $845 for improperly filing their payroll taxes. And, they overpay state and federal unemployment insurance by $1.45 million each year!â Mr. Boye exclaims.
In addition to overpayments, penalties and fines, valuable time is also an issue to consider when deciding to hire a payroll service, rather than processing payroll in-house. Markwei Boys says, âProcessing payroll requires 54 steps and eats up between 40 to 60 hours each year, even for two-employee companies; itâs tedious work that requires constantly updating records, printing checks and answering employee questions,â Markwei explains.
Markwei Boye has created a 14-point buyerâs scorecard to help companies determine if the payroll service theyâre considering is the right one to use. The scorecard outlines the 14 questions to ask before hiring a payroll service. Here are a few questions you should ask: Does your payroll service offer any type of accuracy or performance guarantee? What does your payroll conversion process look like and what can I expect if I switch my payroll processing to you? Is your payroll service insured? A free report containing all 14 questions can be found at [http://n.b5z.net/i/u/8100075/i/SB_-_Payroll_Service_Scorecard.pdf]
Markwei Boyeâs company, Smart Business Payroll, has quickly become one of the most recommended payroll services in Southeast Michigan, by many CPAs & business professionals. They help their clients reduce the confusion and expense of processing their own payroll by educating them on what features are best for their business and budget. Secondly, and more importantly, they show their clients how to make their business more money by addressing employee compliance issues, hidden tax liabilities and even under-leveraged IRS rulings. Markwei Boye explains all the things that add and subtract profits from business.
Visit [http://smartbusinesspayroll.com/] to learn more.