"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun.
Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.
Despite the challenges, payroll provides multiple benefits to forward-thinking CPA firms, including a year-round revenue stream, improved customer retention rates, increased growth potential, and greater stability – so long as it’s done right.
Read this article to find out how two firms provided payroll profitably, compliantly, and without additional workload.