Our Payroll Services Offer One Valuable Benefit That Others Have Missed...

THE ACCOUNTANT!

The CFO Financial Payroll System controls costs with our innovative technology.  We have streamlined the entire payroll production process which is overlooked by CPA's, a differentiator from our competition, for our constantly growing and diverse range of clients. 

CFO Financial is a premier payroll service bureau that specializes in serving the valuable Small Business Owner. We have developed our payroll process and structure with the understanding that affordable pricing and flexibility are significantly important to you and your business. 

We have kept it simple and offer two levels of payroll services:

Our Full Service option is unique in that we have one bundled price that covers all facets of a payroll from cutting a check, paying taxes to providing an employee W.2 at year end and much more. The Full-Service option works well for companies with 1 or more employees. 

Our Quarterly Recordkeeping option is geared for the very simple business owner who primarily works by him or herself but has part-time help from time to lime and needs net pay and tax payments processed. 

In addition to our payroll service, CFO Financial, through its partnerships, is able to provide as part of our payroll solutions, Section 12S Cafeteria Plans and Company Retirement Plans.  We are partnered to represent the best of the best Industry leaders which allows us to provide a superior and complete payroll solution.

Payroll FAQ

Why Outsource Payroll?

The Advantages of Outsourcing Your Payroll.

There's more to managing small business payroll than writing checks and handing them out to employees on time. You need to keep accurate records, calculate and pay payroll taxes, and communicate effectively with employees. Many small business owners are finding that they can simplify the process by using an outsourced payroll provider to manage the entire process cost-effectively and efficiently.  Outsourcing your payroll can provide your small business with a number of Important benefits:

Saving Time

Using an outsourced payroll solution is typically more efficient for a small business than processing payroll internally. Leaving payroll to experts frees up hours that you can devote to other important parts of your business. Whether it is your time, staff time, or a combination, chances are the hours could be better spent wining more business, improving customer service, fine-tuning business operations or launching a new product line. Among the areas where outsourcing will save time are:

• Processing payroll.
• Printing and distributing paychecks.
• Calculating and paying withholding and employment taxes.
• Preparing and distributing W-2s and 1099s at year-end.
• Handling employee payroll inquiries.

Saving Money

Many business owners underestimate the cost of processing payroll internally by failing to account for all hours spent and resources allocated to pay employees and maintain payroll paperwork. A thorough cost assessment usually proves that a small business saves money by outsourcing the processing, tracking and filing of payroll documents. To assess your own Internal payroll costs, consider:

• How much the time spent is actually worth: consider the cost of your time and the time of anyone who processes or "touches" payroll. Often, many people in a small company are involved in the various parts of payroll processing.
• What savings would outsourcing provide: since an outside provider can handle all the responsibilities involved in managing payroll and answering employee questions, a small business can often eliminate or reallocate an internal payroll resource.

Avoid Paying Penalties

Calculating federal, state, and local employment taxes and filing payroll-related tax paperwork can be more than just a hassle. If it's done incorrectly, your small business may face penalties and even interest on money owed since the mistake was made. In fact, it is estimated that one in three small businesses receive a tax penalty costing over $800 each year. Outsourcing payroll does away with the risk of many of these costs and hassles because:

• An outsourced payroll provider calculates payroll taxes, based on its expertise and close tracking of regulation changes.
• Monthly or quarterly employment tax reports are managed by the payroll service, ensuring they are submitted correctly and on time.
• Payroll providers may assume penalties that come as a result of incorrect tax calculations.