Don't Mess Around with Payroll: Why It's the One Thing You Must Get Right
When it comes to managing your business finances, there’s room for flexibility in some areas—but payroll is not one of them. If there’s one system that absolutely must be solid, accurate, and timely, it’s how you pay your employees.
Running payroll is more than just cutting a check.
There are taxes to withhold, deadlines to meet, and filings to submit. Employers are responsible for paying both the employee’s withheld taxes and their own portion (Social Security, Medicare, FUTA, and state taxes). And it must all be done on time.
If you miss a payroll deadline or skip payroll and just write a check, you’re opening your business up to serious consequences. The IRS and your state agency don’t care if you “meant” to file later. If taxes aren’t deposited, or forms like the 941, 940, or state equivalents aren’t filed correctly, you could be hit with:
Late deposit penalties (2%–15%)
Failure-to-file fines
Interest on unpaid taxes
Inaccurate W-2s leading to further penalties
It adds up—fast.
Cash flow challenges are real, especially for small businesses and startups. But if there’s one bill that absolutely must be covered on time, it’s payroll. Delays here not only affect your legal standing—they impact employee trust and morale.
Yes, you can run payroll yourself. But unless you’re crystal clear on federal, state, and local tax rules, it’s easy to make a costly mistake. Even missing a single pay period, or backdating checks without filings, can create compliance issues.
If you’re not 100% confident in your payroll system, don’t risk it. A missed step can cost thousands—literally.
💡 FAQ: Payroll Essentials
Q: Can I write manual checks and file taxes later?
Technically yes, but it’s a compliance risk. Taxes are tied to pay dates, not intentions.
Q: What if I forgot to run payroll last quarter?
You’ll need to file corrections (941-X, W-2Cs, etc.). Penalties increase the longer you wait.
Q: Should I outsource payroll?
If you’re unsure, absolutely. The peace of mind is worth it.
👨💼 Need help cleaning up or setting up payroll?
Schedule a consultation with Dr. Bryan Raya, QuickBooks ProAdvisor:
👉 Book Here
Let’s start Doing Business Right!