One out of three small-sized businesses is affected by the penalties imposed by the IRS for having payroll. Additionally, for small businesses, these fines add up and become something that cannot be caught up easily. That is why, small businesses, particularly companies with one employee choose to pay for the payroll services.
About 54% of all the American workforce is affected by payroll problems. That is why they prefer to have the best payroll service for one employee. In fact, 40% of the small-sized businesses are affected by IRS penalties due to not hiring payroll service for one employee. Due to this matter, 49% of the workers leave their job.
Top 5 Secrets of the Cheapest Payroll Services
Here are 5 secrets of the cheapest payroll service for one employee which just might solve problems for the small businesses.
1. Intuit Payroll
If you are looking for the payroll service for barebones, then this is the right solution for you. Even if you want an automated all-in-one best payroll service for one employee, then intuit payroll might help you. No matter what you comply with, intuit payroll always has an option for you. in fact, it is voted as the best payroll service for one employee in America.
Their basic package is the best which costs around $20 per month and $2 per employee every month. It will calculate and run your salary taxes in an instant. However, it won’t file your pay taxes and that’s one disadvantage.
Their most popular payroll package for small businesses is enhanced. This package costs around $31.2 per month and does everything you can’t handle such as calculation, running and filing of taxes.
They have another option available as well known as the ‘Full Service’ package but it isn’t preferred by the companies more than the ‘Enhanced’.
One top-secret of OnPay is that it does not offer the payroll tools and services offered by Intuit. However, it does provide easy and straight forward modeling for the payroll necessities at the same price. Every small business needs this kind of cheapest payroll service having 1 or 2 employees.
It does unlimited calculations, pay runs, filings, and deposits in one go. It also checks to print every now and then.
It has a mobile-friendly user interface that does not require a learning curve, unlike other cheapest payroll services for one employee.
In their basic package, you can include at least 10 employees if you have a medium-sized business.
Gusto was previously known by the name Zenpayroll and continues to offer intuitive payroll services for 1 employee for any sort of small-sized business.
Not only does their service integrate with your accounting software but also files your taxes, locates your files, states and lookup federal taxes so that 1 employee can have access to all the information.
One top-secret about Gusto is that it offers a free trial for one month and then charges $39 per month. But it comes with additional benefits such as best planning, check services, direct deposits and more.
Namely is known as one of the best HR services in America. Along with being the best payroll service, it also offers a variety of HR tools. This helps the employee to cut down on wasted time.
It will not only carry out file deductions but also fill out your payroll taxes. It also gives you access to paycheck histories.
Moreover, it also handles the end of the year file report to ensure that your small business is in compliance with regulations and standards.
Sage offers you intuitive payroll services depending on how small your business actually is. But, the enhanced package of Sage comes with fewer features than the Intuit payroll services for one employee.
The price of this payroll service depends on how much you use it. Its full-service package comes with payroll agent, unlimited deductions, check delivery service, additional benefits information and personalized report building.
Sage is sure to keep up with your payroll services. After all, they have the highest consumer retention in the payroll service industry.
Small businesses should pick up the cheapest payroll service for one employee that matches their business needs. But you can always cancel it if you’ve made the wrong choice. Moreover, it would also be mindful to keep track of your payroll records in case something goes wrong. Learn more about creating effective payroll processes and flowcharts here.