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Running employees threw a temp agency

Discussion in 'Business Operations' started by eggy, Mar 4, 2001.

  1. Kent Lawns

    Kent Lawns LawnSite Senior Member
    from Midwest
    Messages: 870

    Either run them through a temp service or hire a payroll service.

    In addition to calculating taxes a generating payroll, you also need to:

    File 941 Form monthly.
    File 940 Form Quarterly.
    File State withholding taxes monthly.
    File STATE unemployment form quarterly.
    Buy, manage Work Comp Insurance and track overtime.
    Mantatory Work Comp audit annually.
    Remit federal annual employment summary.
    Submit W-2's.

    These REQUIRED and other potential tasks (unemployment forms) are better handled by someone who does this for their job.

    By the way, forget to file your 941 on time? The IRS DOUBLES your amount owed. Read your local business journalm happens all the time.

    Bottom line: Your time is better spent earning money.

  2. diginahole

    diginahole LawnSite Member
    Messages: 249

    WOW, in Ontario we file every month with one form for all taxes withheld and employers contributions. If it's late it's a 10% penelty, I thought that was harsh but 100% ouch. My accountant double checks everything at the end of the year when he does T-4's and Workmans comp and balance sheets ect. I guess for me it takes less time to tell my computer the weekly hours than it would to tell a payroll service.
  3. eggy

    eggy LawnSite Bronze Member
    Messages: 1,085

    Kent you just made me see the light....looking at the yellow pages...payroll service.....
  4. eggy

    eggy LawnSite Bronze Member
    Messages: 1,085

    Well I contacted a temp service, what can happen is my freinds who will work for as needen outside of their regular job will basicly be on file there...Fill out time cards as needed and turn them in as needed. The staffing agencie handles paying them and workers comp...they then send me the bill, of course...basicly it will cost me about 2.75- 3.00 over the wage they recieve but all workers comp taxes etc will be done...doesnt sound bad for my needs

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