If you have no idea how to do payroll yet this is a responsibility that has been left to you, get help because small businesses like yours often struggle with payroll processing because it is pretty complicated, risky and very costly if a mistake is made. Through outsourcing to a payroll management company, you can ideally save money, time and headaches for your small business, particularly during tax season. You may not know how to do payroll, but the payroll accounting professional you hire does.
Payroll companies like Paychex are ideal if you lack the education on how to do payroll because Paychex will assume all responsibility for paying for and reporting your tax liabilities to the government. This puts the task on the company and not on you to both calculate tax information and then send it off. Paychex also assists with unemployment issues and offers an Android mobile app for Blackberry and iOS devices so you as a client can easily view all small business payroll information through your phone.
There are various tax credits and other things you could qualify for as a small business as well, and Paychex and similar employee payroll services providers know how to use them. For instance, if your operation is a restaurant and you have employees who make their living at least partially off of tips, you could qualify for a tax credit from FICA. This would allow for a reduction in your income taxes at the end of each year.