Cheap payroll services for freelancers and small businesses
What is a payroll service provider?
Payroll service providers (PSP) are third-party tools or companies with the responsibility to perform certain payment tasks for a business. These include the administration of payroll and employment task obligations. Payroll service providers typically offer the following services.- Prepare the paychecks for the employees of a business
- Put together paystubs
- Create Forms 940, 941, 1009, and Employer's Annual Federal Unemployment (FUTA) Tax Return
- Employer's QUARTERLY Federal Tax Return using the employer's EIN for signature by the employer.
- File Forms 940 and 941 using the employer's EIN.
- Make federal tax deposits and federal tax payments for the taxes reported on Forms 940 and 941 using the employer's EIN.
- Prepare Form W-3, Transmittal of Wage and Tax Statements, and file and furnish Forms W-2, Wage, and Tax Statement, for the employees of the employer using the employer's EIN.