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Who uses QuickPayroll??

Discussion in 'Business Operations' started by jajwrigh, Nov 28, 2003.

  1. jajwrigh

    jajwrigh LawnSite Bronze Member
    Male, from Martinsville, IN
    Messages: 1,405

    I was contemplating the idea of using quickpayroll next year. I work alone and I was wanting to put all of my income into a payroll service each week and harvest the profit left over after tax. I figured this would simplify the tax issue. What do you guys think?? Please let me know!
     
  2. Team Gopher

    Team Gopher LawnSite Platinum Member
    from -
    Messages: 4,040

    Hi Jajwrigh,

    What does the service cost?
     
  3. jajwrigh

    jajwrigh LawnSite Bronze Member
    Male, from Martinsville, IN
    Messages: 1,405

    $99 per year...
     
  4. kickin sum grass

    kickin sum grass LawnSite Senior Member
    Messages: 628

    If you are working by yourself, I don't see any beneifts using a payroll service for yourself. You will just be adding a tax line onto the business part of the taxes and then you will have to deal with w-2 etc.etc. Just pay your quarters and at tax time you should not owe that much.
     
  5. Green in Idaho

    Green in Idaho LawnSite Senior Member
    from Idaho
    Messages: 833

    What business form do you operate?

    S-corp? LLC?
     
  6. jajwrigh

    jajwrigh LawnSite Bronze Member
    Male, from Martinsville, IN
    Messages: 1,405

    s corp
     
  7. Green in Idaho

    Green in Idaho LawnSite Senior Member
    from Idaho
    Messages: 833

    S-corp.
    that is the key.

    As an s-corp you are required to be an employee of the business so you have to do payroll rather than quarterly estimates like other sole props.

    For $99 it is well worth it to avoid your time requirements of doing it. A payroll service should guarantee timely filing- as in if they are late they will pay the penalties.

    The service fee can easily be made up by saving penalties.....

    I recommend it esp for only one employee.
     

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