Payroll Tax Service



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Payroll Tax Preparation and Filing Service - Total Tax

Payroll tax compliance and filing is a hugely complicated and ever-changing burden for employers. As an employer you need to a have bullet-proof system to:

Make all federal, state and city payroll tax deposits accurate and timely.
Stay in compliance as tax forms, rates and regulations change.
File all quarterly and annual payroll tax returns accurately and on time.
Audit and reconcile the collection and the disbursements of all tax funds.
Provide employees with their printed W-2’s and sub-contractors with 1099’s and file the appropriate transmittals and form copies.
Respond to tax agency inquiries.

We are that bullet-proof solution!

As part of our regular payroll service, HR Ledger’s Total Tax Service protects you from possible payroll tax penalties by providing accurate and timely depositing, reporting, and filing of your payroll taxes and related returns. In an instant you will have a highly trained and experienced Payroll and Payroll Tax Team working for you.

If you've ever struggled with a tax deposit error, you'll be pleased to know that our automated system takes care of everything. Each pay period we electronically debit your bank account for the required taxes; we transfer the funds to the right agency and file payroll tax returns. Our system assures that you will never again pay an employment tax penalty; and should there be an issue, we will assist you with rapid resolution.

Payroll Tax Calculations

With each payroll we calculate the required withholding and employer contributions needed to comply with the legal requirments. We calculate:

Federal Withholding is an employee’s personal income tax and must be calculated based on earnings, elected withholding rate (Form W-4 information) and cumulative withholding amounts.
Federal Insurance Contributions Act (FICA) which has two parts and an employer matching provision.
- Part 1 – the Social Security assessment which has a changing annual cap
- Part 2 – Medicare which does not have a cap and must be calculated separately.
- Employer matching – The employer must match the employee contributions to FICA and Medicare and submit those funds at the same time.
State income tax withholding is determined by the state in which an employee resides. Our payroll system adjusts to each employees' location and is 50 state compliant.
Local, county, city and assessment district withholding and taxes.
Unemployment & Disability Taxes
- Federal Unemployment Tax Act (FUTA)
- State Unemployment Tax Act which in Californiay includes Employment Training Tax (ETT) are a requirement of most states but not all.
- The FUTA requirement varies from state to state.
State Disability Insurance (SDI) which is withheld from the employee and submitted to the appropriate agency.

Filing, Payments & Reporting

Before we make our first filing we determine how and when you are required to file. Our system is designed to meet the government mandates for Monthly, Semi-Weekly and Next Day Filers. This complies with how the government expects your funds to be deposited and there are substantial penalties for non-compliance.

We file all federal tax funds electronically via EFTPS. If the IRS mandates that your business comply with EFTPS for your federal employment tax deposits – we’re already set up to comply with their request.

Keeping up with filing and reporting for all 50 states is a huge ordeal – but nothing our system can’t handle. When it comes to preparing and submitting deposits and tax returns, we file based on each state’s requirement and level of sophistication. This includes all state taxes, unemployment insurance payments, disability insurance payments and local taxes as well.

In California we prepare the required De-542 filings. These report earnings of more than $600.00 for sub-contractors for which we prepare 1099’s.

Reconciliation

Each day our auditors review and reconcile tax impounds to make sure transactions took place as required and amounts were accurate. If an issue is identified we work diligently to resolve it immediately.

We also track and reconcile the cumulative amounts for your FICA, FUTA, SUTA, ETT, SDI, and other tax filings and tax forms.

Quarterly Reporting

Each quarter we complete and file your required Federal 941 along with any state required reporting such as California’s DE-6. Of course, along with any federal and state returns we prepare local returns as well.

Each quarter you receive a complete set of copies of your returns along with a set of easy-to-read Quarterly reports. With all documentation you receive you will be well prepared for an audit should it ever be required.

Year End Reporting

At the end of the year we prepare and file your Federal 940 or 944 returns. We also prepare and file your required annual state reconciliation return (California’s De-7 for example). Just like the quarterly reports, you receive copies of the returns filed and easy-to-read annual summaries.

Of course, at the end of the year we also print the dreaded W-2’s and 1099’s in compliance with federal and state regulations and ready them for distribution to your employees and contractors. We file your W-3 Transmittal with attached W-2’s and 1096 Transmittal with attached 1099’s electronically meeting the all statutory requirements for digital filings. We can also provide Forms W2c (Corrected W-2) if needed.

Regulation Watch

We monitor the latest updates in tax law and compliance issues so you can rest assured that you will never pay an employment tax penalty again.

Our system is updated several times a year with the latest changes in the Federal, State, and Local tax rates and thresholds. It is cost effective for us to do because we serve clients all across the country. Our software programmers have provided us with a powerful, flexible system that allows us to create custom calculations and set client specific modifiers to take care of your specific needs. When regulation changes warrant it, our software engineers make changes to meet those requirements well before they take effect.

The Result