You Should be Outsourcing your Payroll and HR Needs
Payroll and HR are essential parts of any firm, and they can be complicated and time-consuming, even for the smallest firms. Keeping track of employee benefits, wages, garnishments, paid time off, and new state and federal tax regulations can be pretty difficult. Additionally, the potential fines and penalties can add up quickly and be very costly if not done correctly. According to the IRS, 40 percent of small businesses pay an average penalty of $845 per year for late or incorrect filings and payments.
Outsourcing your payroll and HR will save your firm time and minimize risk, and it will allow you to focus on what is most important – revenue-generating activities and to grow the firm. Since payroll and HR are not functions of your firm that generate revenue, they are ripe for outsourcing.
At LBSI, we have a team of individuals with more than 30 years of extensive experience in these very subjects. From running payroll, calculating and recording paid time off, managing employee benefits, and keeping abreast of changes to both state and federal tax regulations, LBSI is the solution to your payroll & HR needs.