Bookkeeping & Payroll Services

Bookkeeping Services

At Advantage Business Services, primary goal is to help independent businesses handle their management, accounting and tax preparation needs, at an affordable price.

 

Over the years we have helped hundreds of businesses manage their operations PRO-ACTIVITY, enabling them to plan their business growth and taxes instead of reacting to their day-to-day problems.

 

Let us help you with the operation and management of your business so that you can better learn from the past and plan for the future improvement of your business.

Payroll Services

The standard rate for our payroll services $25 per check run $5 for each additional employee. For example if you had a 6 employees paid every 2 weeks the cost to your company would be $50 every 2 weeks

Requirements for new employees. Make a copy of their government Identification card and social security card. Have them fill our a copy of a w-4 form which can be obtained from this link http://www.irs.gov/pub/irs-pdf/fw4.pdf?portlet=3 Verify their eligibility to work and fill out a form I-9 which can be obtained from this linkhttp://www.uscis.gov/files/form/i-9.pdf

If a New York State employee a new hire form must be sent to New York State Department of Labor within 20 days of hiring the new employee

All New York State employers must have a workers compensation policy and an employees disability. There is $250 fine for every 10 days you are without insurance. These penalties can often times be reduced if you act quickly and respond within the given time frame. If however you don’t respond to the settlement offer the accounts will go into collections and can only be reduces by about 50% of the penalty amount.

Workers compensation is based upon the amount of actual payroll you pay during the year. It can be as little as $300 a year or 1/2 of 1% for a low risk occupation or it can be as high as 18% for high risk occupations such as roofers and demolition contractors. Carpenters paid 14% for workers compensation last year.

Up to 2 owner who are officers can opt out of the plan and are not required to carry the policy for themselves

Disability is a relatively inexpensive policy usually less than $400 per year depending upon the # of male and the number of female employees. Female employees cost almost 2 times the amount of male employees

Have the employees sign a copy of the employee hand book where you state the rules and obligations before employee begins work.

In most business the employees are the most expensive investment.

We are a full service payroll provider designed for the small business. We will solve your payroll problems.

Weekly, bi weekly and month and quarterly payroll checks prepared and payroll taxes filed

Form NYS-1
Filer Type   Due Date
3 Days Filers [1]:    
Filers required to withhold $15,000 or more for the calendar year preceding the previous calendar year   Within three business days following the payroll that caused the total accumulated tax withheld to equal or exceed $700[2]
5 Day Filers [1]:    
Filers required to withhold less than $15,000 during such year   Within 5 business days following the payroll that caused the total accumulated tax withheld to equal or exceed $700 [2]
Higher Educational Organizations    
(pursuant to 20 NYCRR 2396.2(f))
or
Health Care Providers
(pursuant to 20 NYCRR 2396.2(j))
  Within 5 business days following the payroll that caused the total accumulated tax withheld to equal or exceed $700 [2]
[2]You must file Form NYS-1 and remit the total tax withheld after each payroll that causes the total accumulated tax required to be withheld to equal or exceed $700. If you have more than one payroll within a week (Sunday through Saturday), you are not required to file until after the last payroll in the week. However, when a calendar quarter ends between payrolls paid within a week, any accumulated tax required to be withheld of at least $700 must be remitted with Form NYS-1 after the last payroll in the quarter.

[1] The Tax Department will notify you of any change to your filing due date (three or five business days after the payroll) based on our record of your total tax withheld. New employers will be permitted to file within five business days until notified otherwise by the Tax Department.
 
Forms NYS-45, NYS-45-ATT and NYS-45-CC
The due dates for Forms NYS-45, NYS-45-ATT and NYS-45-CC are as follows:
Quarter Due Date [*]
Jan – Mar Apr 30
Apr – Jun Jul 31
Jul – Sep Oct 31
Oct – Dec Jan 31 [**]
 
[*] When the actual due date falls on a Saturday, Sunday or legal holiday, New York State Tax Law permits you to file on the next business day.
[**] The Employee Wage and Tax Information is due February 28. To file using the February 28 due date, this information must be filed on an NYS-45-ATT separate from the fourth quarter NYS-45 which is due Jan 31. Construction employers opting to file their Employee Wage and Tax Information using the February 28 due date may also file their NYS-45-CC using the February 28 due date.