Payroll Services
At IV Tax Services LLC, we understand that managing payroll is one of the most important—yet most delicate—responsibilities within any business. We know that your employees are the driving force behind your company’s growth, which is why ensuring that they receive accurate and timely payments is not only an obligation but also a sign of commitment and professionalism.
Our payroll management service is designed to help you forget about the stress of calculations, withholdings, and tax reports. We handle the entire process safely, accurately, and in full compliance with the law, ensuring that your business meets all federal and state labor regulations. At IV Tax Services LLC, we work with a personalized approach, tailoring our solutions to your company’s specific characteristics, regardless of its size or number of employees.
Payroll Execution Process
Our payroll service is carried out under a clear, accurate, and secure system that guarantees full compliance with tax and labor regulations. Our step-by-step process includes:
1 - Initial Evaluation and Payroll Setup
We begin with a diagnosis to understand your company’s structure, number of employees, types of contracts, payment frequency, and additional benefits. With this information, we configure the payroll system according to your business’s particular needs.
2 - Employee Information Collection
We gather all necessary employee data, including tax forms (W-4 or W-9), identification, agreed salaries, hours worked, applicable deductions, and any additional benefits. This allows us to maintain complete and up-to-date records.
3 - Salary and Deduction Calculation
We perform accurate calculations for wages, regular hours, overtime, bonuses, or commissions. We apply the corresponding federal, state, and local tax withholdings, as well as Social Security and Medicare contributions, in accordance with the law.
4 - Payment Processing
We generate payments through direct deposit or physical checks, depending on your preference. We ensure that every employee receives their payment on time, along with detailed pay stubs.
5 - Tax Filings and Reports
We file payroll tax reports with the corresponding agencies, such as the IRS and the State Department of Labor, ensuring compliance with all filing and payment deadlines. Additionally, we prepare quarterly and annual reports (such as Forms 941, 940, W-2, W-3, and 1099) as applicable.
6 - Monitoring, Support, and Updates
We continuously monitor payroll operations to ensure accuracy and compliance. If there are changes in tax laws, minimum wages, or labor benefits, we keep you informed and update your records immediately.