I’ve got a full time guy currently 1099 thinking about making us both employees and moving to c corp. How much should I expect to pay on Workers comp and also a good bookeeper/accountant for monthly service and also to file my business taxes. I just want to hand them my bank statements and use a payroll service kind of like an all in one or should I keep it seperate? What do you guys do. I’ve also got a part time guy.
Workers comp varies by state. In colorado I pay somewhere around 23% of payroll. I use intuit for payroll, but if you are looking for someone to take care of all the details like you say, you probably want to find a good accountant.
The fair way would be to pay your guy as an “employee” and not a “sub-contractor”, get an accountant to handle your payroll, and you should do the rest of your books. It’s not that easy to just hand bank statement to the accountant; you have receipts, invoices, accounts payable, receivables, and everything else to keep track of and you want that at your fingertips IMHO. The payroll end from your accountant is easy to enter. I pay like $1200 a year for accounting.
Your WCRA benefits has a Payroll Service. I have not used it. We use Quickbooks enhanced payroll.
