Q. What separates your
company from the competition?
A. Our payroll service is backed
by the professional experience of accountants and
CPAs.
Q. Can I offer direct
deposit to my employees?
A. We highly encourage that
you do so. Direct deposit is an easy and convenient
benefit to your employees. Their funds will
be in their bank account on payday. They will
not need to spend 30 minutes to an hour traveling
to and from their bank (on company time), or have
to wait a couple of days for the funds to be available.
Q. What is EFTPS?
A. The Electronic Funds Transfer
Payment System is the required method of the U.S.Treasury to receive employers’ payroll tax deposits.
TGI Payday will set up an account for your company
with the U.S. Treasury, so that the payroll tax deposits
can be electronically transferred to them. No
more writing checks, filling out deposit coupons,
and making the deposit at the bank.
Q. What are the types
of payroll taxes?
A. The employee
pays federal income and FICA (Social Security and
Medicare) taxes. The employer is responsible
for matching the employee’s FICA taxes, and also must
pay federal and state unemployment compensation taxes.
In Florida, there is no state income tax.
Q. Do you prepare payroll
for household employees?
A. Yes we do.
Q. How long do I need
to keep my payroll records?
A. Generally, payroll records
should be maintained a minimum of five (5) years after
the tax returns are filed.
Please contact us for assistance with any
federal and state payroll questions you may have.
