Professional Service Companies include accountants, architects, engineers, lawyers, consultants, and marketing firms. The Fair Labor Standards Act, as amended, provides an exemption from minimum wage and overtime requirements for any employee employed in a bona fide executive, administrative, or professional capacity (including academic administrative personnel or elementary or secondary school teachers), or in the capacity of an outside sales employee. Although they may not be entitled to overtime, the employers of most of these professionals offer other benefits to their employees, including health care, 401K retirement plans, and vacation and sick days. In some cases, these companies may have both exempt and nonexempt employees. Nanny Tax Solutions can help Professional Service Companies navigate the complexities of their payroll responsibilities.
We also help payroll service companies:
1. Register your employee with the state.
2. Set-up your account for filing returns with the state, if applicable.
3. Comply with checking your employee’s legal ability to work.
4. Pay your employee via direct deposit.
5. Issue wage statements to your employee.
6. Calculate Social Security, Medicare and Unemployment taxes.
7. Prepare payroll tax returns and make tax payments.
8. Generate Form W-2 for issuance to your employees.
9. File your W-2s with the Social Security Administration.
10. Maintain records of payroll issued.
