Payroll & Payroll Tax Filing Services

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Running a business means wearing many hats — but payroll should not be one of your headaches. At SK Financial, we provide comprehensive payroll management and payroll tax filing services designed for U.S.-based businesses of all sizes. Whether you have one employee or hundreds, we ensure that your payroll process is accurate, compliant, and on time — every time.

We handle every aspect of payroll — from calculating employee wages to filing payroll tax returns with the IRS and state agencies — so you can focus on growing your business.

Payroll is more than just paying your employees. It involves complex tax laws, strict deadlines, and precise reporting requirements. Mistakes in payroll or payroll tax filings can lead to:

• IRS penalties and interest
• State agency fines
• Legal disputes with employees
• Loss of trust and employee dissatisfaction
   

With SK Financial, you can avoid these risks through a streamlined, accurate, and fully compliant payroll process.

We ensure your payroll system is set up correctly from day one.
This includes:

• Setting up federal (IRS) and state payroll accounts
• Gathering employee tax forms (W-4 for employees, W-9 for contractors)
• Classifying workers correctly (employee vs. independent contractor)
• Configuring pay schedules (weekly, bi-weekly, semi-monthly, or monthly)
• Setting up direct deposit and payment preferences
   

We handle all calculations, ensuring that gross pay, deductions, and net pay are accurate for every pay period:

• Regular wages, overtime, and bonuses
• Statutory deductions (Federal Income Tax, Social Security, Medicare)
• State income tax (where applicable)
• Voluntary deductions (benefits, retirement plans, etc.)
• Employer contributions (Social Security, Medicare, unemployment taxes)
   

Every paycheck must include the correct tax withholding and employer contributions.
We calculate:

• Federal Income Tax withholding based on IRS tax tables
• FICA Taxes (Social Security & Medicare)
• FUTA (Federal Unemployment Tax)
• SUTA (State Unemployment Tax)
• Any applicable local payroll taxes
   

We prepare and file all required payroll tax returns on your behalf, including:

• Form 941 – Quarterly Federal Tax Return (reports employee wages, federal income tax withheld, Social Security, and Medicare taxes)
• Form 940 – Annual Federal Unemployment Tax Return (FUTA)
• Form W-2 – Annual Wage & Tax Statement for employees
• Form W-3 – Transmittal of W-2 forms to the Social Security Administration
• Form 1099-NEC – For independent contractors (if applicable)
   

• State income tax withholding returns (monthly, quarterly, or annually depending on the state)
• State unemployment insurance tax returns
• Any required state annual reconciliation forms
   

We prepare and distribute:

• W-2 forms to employees
• 1099 forms to contractors
• Complete payroll tax summaries for your records
• Electronic submissions to the IRS and state agencies
   

When you work with SK Financial, you gain:

• 100% Accuracy – Avoid costly payroll errors and IRS penalties
• Time Savings – Spend more time running your business, less time on paperwork
• Compliance Assurance – We keep up with ever-changing federal and state payroll tax laws
• Direct Deposit – Quick, secure payment to your employees
• Data Security – Your payroll data is stored securely with encrypted systems
• Custom Solutions – Scalable payroll services that grow with your business
   

Failing to properly file payroll taxes can lead to serious financial and legal consequences:

• IRS penalties of up to 15% of unpaid taxes for late payments
• Interest on overdue amounts
• State fines and loss of operating licenses
• Trust Fund Recovery Penalty (TFRP), which can hold business owners personally liable for unpaid payroll taxes
   

1. Initial Consultation – We assess your payroll needs and set up your account
2. Employee Data Collection – W-4/W-9 forms, direct deposit details, and job classification
3. Payroll Schedule Setup – Decide payment frequency
4. Payroll Execution – We calculate and process payroll for each pay period
5. Tax Filings – We file payroll tax returns and make tax deposits on time
6. Year-End Compliance – We prepare W-2s, 1099s, and annual reconciliations
    

• Expertise: Our payroll specialists understand both federal and state tax compliance
   
• Technology: We use advanced payroll software for accuracy and security
   
• Personalized Support: Dedicated account managers for your business
   
• All-in-One Service: Payroll, tax filing, and business compliance under one roof