Streamlined Payroll Software for Small Businesses
Employ, Onboard, Pay, and Manage Your Best Talents, All in One Place!
- Enter and run payroll online effortlessly in just a few clicks.
- Automatically calculate, pay, and file payroll taxes.
- Payroll for employees & contractors
Your Payroll Pain is now Healed with our Small Business Payroll Software
Simplify your payroll and pay your employees in minutes!
Cost-Effective Payroll
- Our Low-cost payroll solution! Organize, manage, and pay your employees on time with less expense.
Avoid Manual Calculations
- Our efficient payroll software eliminates the risk of errors. We guarantee accurate and timely payroll calculations for your business.
One-Stop Solution (Payroll + Filing)
- We simplify your payroll process and filing so you can focus on the other crucial aspects of your business.
We have an Online Payroll Software for Every Employment Needs
Right from employees to contractors we got your payroll covered!
Employees
Contractors
Streamline your Payroll Process with our Advanced Features!
Easy Payroll Setup
- Setting up the payroll for your business is quite easy with TaxBandits. Having all the necessary details on hand can lead to a smooth payroll.
- Collect all the business details, employee details, and bank accounts and easily set up your payroll with TaxBandits.
Accurate Tax Calculations
- We prioritize accuracy in payroll processing which helps to avoid costly mistakes.
- Eliminate the risk of calculation errors, ensure correct tax withholding and process your employee wages.
Direct Deposit / Check
- Direct Deposit: Pay your employees through a quick and simple process to transfer the employees' wages.
- Check: The other way to pay your employee is by writing the check on your own.
Free Employee Portal
- Reduce your efforts by providing access to your employees to do things on their own by inviting them to the self-service portal.
- It's the employee's place where they can easily access, download, and view their pay stubs. Also, know their tax compliance as well.
Supports Employees & Contractors
- Employers can easily set up the payroll for their business and pay their employees on time.
- Run payroll for contractors just in a few clicks and manage the whole workforce with our user-friendly and intuitive dashboards.
Supporting Payroll, Business & Employment Tax Forms
- TaxBandits supports all the federal and state payroll tax forms on behalf of your business. Easily file all these forms just in a few clicks.
- Form W-2, Form 941, Form 944, Form 940, and Form 8974, state and local tax forms are supported by TaxBandits.
Run Payroll in Simple Steps with TaxBandits Payroll Software!
Initial Payroll Setup
Get started with TaxBandits payroll by setting up the business details, bank account, federal state details and personalize your pay schedule.
Add Employees / Contractors
Provide the required details of your employees and continue further to run the payroll
Calculate Payroll
Calculate the regular earnings, Deductions, reimbursements, and federal taxes.
Pay to your Employees / Contractors
Based on the preferred payment method your employees will get paid on time
Deposit Taxes to the IRS
Finally, deposit the withheld taxes from the employee’s paychecks to the IRS
Simplify Compliance with TaxBandits’ Solutions
Tax Form Filing
Streamline your e-filing of 94x, 1099, W-2, 1095, W9 and more
TaxBandits is the leading e-file provider for Payroll and Employment forms, providers a comprehensive solution for maintaining compliance
BOI Reporting
Accurate, Simple, Secure Online BOI Filing Solution
TaxBandits, a one-stop BOI filing solution for law firms, CPAs, Register agents and small businesses to stay compliant with FinCEN regulation
W-9 Manager
Easily Complete, Request, and Manage W-9 Forms
You can request W-9 / W-8BEN / W-8BEN E forms from your vendors / contractors / employees, and collect and manage them securely in one place.
Frequently Asked Questions on TaxBandits Payroll Software for Small Business
Gross pay is the wages earned by the employees before the payroll deductions. Total gross pay comprised of wages, deductions, overtime pay, bonuses, and so on. In order to calculate gross pay, basic pay, and other earnings should be added.
Gross pay = Basic pay + other earnings
The pay schedule of your business determines how often your employees get paid. Choosing the best pay period depends on the cash flow of your business and employee preference. The common schedule used by the businesses are:
- Weekly - Pay your employees once in a week
- Bi-weekly - Pay your employees every alternative week
- Semi-Monthly - Pay your employees every alternative weekPay your employees twice a month, typically on the 15th or last day of the month
- Monthly - Pay your employees once in a month
- Semi-Monthly - Pay your employees every quarter
The important payroll taxes that affect the employee's wages are
FICA
FICA (Federal Insurance Contribution Act) is the federal tax that consists of Social Security(6.2%) and Medicare taxes(1.45%). It is mandated for the employees and employers to contribute an equal amount of the taxes to the IRS. The total FICA tax rate is 15.3%.
FUTA
FUTA(Federal Unemployment Tax Act) is the federal tax contributed by the employer to the IRS. The FUTA tax rate for the employer is 6% and applies to the first $7000 paid to each employee annually.
SUTA
SUTA (State Unemployment Tax Act)is the employer tax. State taxes vary based on the employee's work location.
A payday is a specific day in a week or a month when the employee gets paid for the work done for the previous pay period. Employers can decide their payday based on the pay period they choose to pay their employees.
