PAYROLL & TAX MANAGEMENT
Processing payroll and managing tax requirements can place a heavy administrative burden on household employers. Tracking timecards, calculating and processing paychecks, and withholding proper deductions can amount to hours each week, and the responsibility of preparing, filing, and remitting taxes properly – and retaining compliant records – can be overwhelming.
TEAM’s in-house payroll and tax experts remove the burden of payroll and tax administration to ensure employees are paid accurately, on time, and compliantly.
Payroll management with 99.98% accuracy
TEAM processes payroll in-house, five days a week, allowing us to accommodate a wide range of payroll schedules and frequencies. As administrative Employer of Record, TEAM is also responsible for compliance with wage and hour laws, and will review payroll setups for accuracy as well as monitor ongoing changes to regulations.
TEAM’s flexible, compliant solutions allow us to make a seamless transition from previous pay structures, and deliver a positive experience for employees and clients alike. Unlike other providers, we provide a dedicated payroll specialist for each account to ensure high-touch customer service, direct access, and flexible payroll processing solutions that meet your unique needs.
Flexible timesheet and payout options
We offer flexible timecard and payout options, including:
- Electronic timecard submission via SwipeClock or paper timesheets submitted by text, email, or fax, as well as custom timecard options
- Payment via direct deposit or hard check
- Online account access so clients and employees can view pay stubs, payroll records, and other tax documents
Cost projections and wage benchmarking
In today’s job market, household employers want to offer competitive compensation packages to attract and retain top talent – while ensuring they stay within budget.
TEAM offers custom wage surveys to help guide clients in determining fair yet competitive wages, and can provide cost projections and sample invoices to help clients know what to expect for budgeting purposes.
Minimum wage compliance
Minimum wage can vary significantly based on the state, county, or city where work is performed.
TEAM’s payroll and compliance professionals stay current with the most recent changes – in every jurisdiction – to ensure employees are paid compliantly.
Tax management services
Tax authorities have a multitude of forms and requirements that can be cumbersome and complicated to manage.
TEAM helps clients remove this complex responsibility and reduce the risk of audits by preparing, filing, and remitting all federal, state, and local taxes..
Proper tax withholding
Tax withholding, payments, and reporting are duties that surface frequent, yet easily avoidable, issues for household employers.
TEAM provides best practices to ensure compliance with tax requirements, including in areas with special taxation requirements.
Multi-state tax management
Multi-state tax management can become complicated, particularly in instances where clients have properties in multiple states or their employees travel for work.
TEAM has deep expertise in multi-state tax management to eliminate the risk of mismanagement with geographically dispersed employees
Tax form administration and recordkeeping
Maintaining, submitting, and retaining tax forms is a tedious yet critical obligation for household employers. TEAM fulfills local, state, and federal tax requirements by carefully managing and retaining documents such as:
- Form 940 – Employer’s Annual Federal Unemployment (FUTA)
- Form 941 – Employer’s quarterly federal tax withholdings, including Social Security and Medicare taxes
- W-2 – Wage and tax statement
Learn more about payroll and tax services for household staff
Fill out the form to connect and learn how our clients get hours back in their week by outsourcing payroll, taxes, and employment administration for household employees.
TRUSTED BY
WHAT OUR CLIENTS ARE SAYING
“Working with TEAM has been a great experience. All of our client families are very satisfied, and it takes a huge burden off me knowing that TEAM’s payroll professionals understand the laws and know what they are doing..
– Trust Officer