- Order Checks
- Create payroll checks
- Compute tax liabilities
- Prepare tax deposits
- Compute/maintain sick-vacation time
- Process Friend of the Court deductions
- Respond to wage information requests
- W-2 preparation
- Prepare quarterly forms:
-Federal Unemployment form (940)
-Federal withholding/FICA form(941)
-Unemployment Forms for the State
-State Sales/withholding forms (MI-C3200)
- Process MI-3281 New Hire Reporting
- Process new hires, changes, terminations
- Process wage/departmental changes
- Customized payroll reports
These are the key basic payroll items that Richard C. Woodbury, P.C. CPA can provide at minimal cost. Our payroll charge is $1 per check plus a $10 service charge for each payroll period. This includes setup, preparation of your weekly, biweekly or semimonthly payroll, 941 deposit, any employee changes, Friend of the Court deductions, W-2's and customized payroll reports. An additional fee will be charged for actual checks, preparation of quarterly forms, wage information requests and the MI-3281 New Hire Reporting form.
Automated Clearing House (ACH) is another payroll option that can be used for preparing your payroll. Richard C. Woodbury, P.C. CPA can arrange for direct deposit of payroll checks into your employee's checking or savings accounts through modem transmission. This way, there are no checks to order or prepare. There are a few data collections that need to be filled out to aid in the setup process. The "Employee Information for Direct Deposit" form will help you collect the necessary information from your employees who want to participate in direct deposit of their payroll checks. These forms are available at our office.
We can also set up automatic client billing where the amount charged to prepare your payroll comes directly out of your checking account.
There is no additional charge for ACH Direct Deposit Payroll at our level. Your bank may have some additional charges for this service.
Electronic Federal Tax Payment System (EFTPS) is the payment process many businesses are required to use to make their federal tax payments. If your federal tax deposit requirement is $20,000 or more, your are required by Federal Law to use EFTPS for all your federal tax deposits. This $20,000 ceiling is scheduled to be reduced even lower in future years, until almost all business will be using this system.
Richard C. Woodbury P.C., CPA has the enrollment forms that you will need to file EFTPS. We will prepare this for you and set your company up in our computer system. With this method of payment, we are authorized to withdraw funds from the client's bank account by modem and wire the federal tax deposit to IRS from our office. The client no longer has to worry about getting to the bank by 2:00pm on the due date of the deposit. If you prefer, we can train client personal to make the EFTPS entry.
When we have the necessary data already in the office, there is no extra charge for this EFTPS service.
We have just recently added the ability to file your 940 & 941 tax returns electronically. This is a new program with the IRS and is just getting started. We expect to see an IRS requirement in the next few years that will require all businesses to file these returns electronically. We will be ready, Will you?