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HOW MUCH ARE YOU REALLY PAYING FOR YOUR PAYROLL?

  • Writer: Florida Commercial Insurance
    Florida Commercial Insurance
  • Nov 4, 2024
  • 1 min read

Simply put, chances are you are paying too much! If your payroll is being administered via a percentage, the % (may range from approximately 2 - 5%) and calculated on the total payroll processed. Therefore, if you have 10 employees making 12.00 / hr, and your provider may process payroll at a fee of “only” 3.5%. However, a closer look will illustrate that this 3.5% equals $8,736.00 annually (or $168.00 weekly). Almost $10,000 a year to process your payroll. Consider that a standard payroll company (we have strategic partnerships) can process the same payroll for $2,912.00 annually (or $56.00 weekly). That is over $5,000 a year back in your pocket. In addition to the savings, you get the same (or more) benefits. The "standard" option provides you with payroll (checks or direct deposit), processing and filing of all state and federal taxes, weekly workers comp payments (with little or no down payment on a self-auditing basis). Ask us to send you a quick and easy calculator to see how much you can save.

 
 
 

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