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  • Payroll software recommendation?

    I file as an S-corp and have 2 employees so use Paychex to run my payroll. It's a little costly but makes sure I'm in compliance and they submit the taxes for me. My wife will start filing as an S-corp so needs to start paying herself W2 income. Our daughter also does some work for her and is eligible for some w2 income as well.
    Any recommendations for an inexpensive and relatively easy way to pay yourself (and child) as a W2? TIA

  • #2
    Gusto. They'll give you $100 back with a referral. If you want one, pm me. I'm not going to spam post a referral code though.

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    • #3
      Originally posted by Yowza View Post
      Gusto. They'll give you $100 back with a referral. If you want one, pm me. I'm not going to spam post a referral code though.
      thanks. was hoping for something with fewer frills and less expensive.

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      • #4
        I exclusively use Gusto and I think it's competitively priced. A late payroll tax deposit can rack up penalties fast and unfiled forms can take up hours of time to resolve. I think Gusto is well worth the $39/month + $6/month/employee for what you get.

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        • #5
          I've been reasonably happy with SurePayroll. (Liked it better before Paychex bought it out.) That said, the pricing for Gusto sounds pretty good too.

          Just be careful that you don't go with a payroll company's 401(k) plan before shopping around other alternatives. You might not fulfill your fiduciary duty if you pick a high cost retirement plan just because it's the default option with your current payroll processor.

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          • #6
            Originally posted by Ushdadude View Post

            thanks. was hoping for something with fewer frills and less expensive.
            Don’t cheap out on payroll processing. We just had a client using a no-frills s/w (the name escapes me, sorry, not at office) and he actually found out he needed some of the frills (like payroll tax reports lol) and changed to QB. Some of you guys need to consider priorities - spending a little more to save on small hassles v saving every penny and using your precious free time to clean up messes. For a busy doctor, free time is typically a higher priority than tiny savings of money and bigger savings of headaches.
            Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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            • #7
              We replaced both ADP and Paychex with onpay and have been very happy for a couple of years now

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              • #8
                I've been using Intuit Payroll (started 15 yrs when it was called Paycycle). Not a lot of support if you need it, but in 16 yrs I needed it once or twice, so nbd.
                Does everything I need it to do for 10 employees. Way back had a discount for Costco members, not sure about now.
                https://quickbooks.intuit.com/pricing/

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                • #9
                  Originally posted by Steven Podnos MD CFP View Post
                  We replaced both ADP and Paychex with onpay and have been very happy for a couple of years now
                  I just formed an S corp and started using ADP. I really like them. I have a contact at ADP if you want it.

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                  • #10
                    We also use Gusto. I have been very happy with them.

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                    • #11
                      We have referred several clients to Gusto, most are happy. ADP does a fine job, but if you decide to add a 401k through them, they are not competitively priced; in fact, quite expensive, so be aware of that. We’ve priced out options for financial planning clients and ADP was significantly higher than Employee Fiduciary.
                      Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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                      • #12
                        So most recommend a full scale payroll company even if there are no additional employees?

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                        • #13
                          Originally posted by Ushdadude View Post
                          So most recommend a full scale payroll company even if there are no additional employees?
                          Unfortunately that is likely. If it reliably processes one check, payroll is a repetitive process so 100 times makes no difference. That is the logic.

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                          • #14
                            Originally posted by jfoxcpacfp View Post
                            We have referred several clients to Gusto, most are happy. ADP does a fine job, but if you decide to add a 401k through them, they are not competitively priced; in fact, quite expensive, so be aware of that. We’ve priced out options for financial planning clients and ADP was significantly higher than Employee Fiduciary.
                            Ok, showing my ignorance here. What exactly does it mean to "add a 401k through them".

                            Here is what I am asking: I use ADP. I have a small company. My wife and I are the only employees and we both do a solo 401k and we have money deducted from our small bus and it goes into our vanguard 401k pretax. ADP handles this billing (helps facilitate "withholding" the money which basically means they just say that x amount per month goes into my solo 401k. I personally control the money and I put the money into my solo 401k from my business checking account each month.

                            All ADP does is say: X amount of pretax income is not present as this went into the 401k. I am responsible for putting into VG etc.

                            Is this what they charge too much for? Sorry for the stupidity on my part, just want to make sure I am not getting ripped off. My accountant recommended ADP and they seem like they have their stuff together. etc.

                            Thanks,
                            TB

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                            • #15
                              Originally posted by Tangler View Post

                              Ok, showing my ignorance here. What exactly does it mean to "add a 401k through them".

                              Here is what I am asking: I use ADP. I have a small company. My wife and I are the only employees and we both do a solo 401k and we have money deducted from our small bus and it goes into our vanguard 401k pretax. ADP handles this billing (helps facilitate "withholding" the money which basically means they just say that x amount per month goes into my solo 401k. I personally control the money and I put the money into my solo 401k from my business checking account each month.

                              All ADP does is say: X amount of pretax income is not present as this went into the 401k. I am responsible for putting into VG etc.

                              Is this what they charge too much for? Sorry for the stupidity on my part, just want to make sure I am not getting ripped off. My accountant recommended ADP and they seem like they have their stuff together. etc.

                              Thanks,
                              TB
                              You’re certainly not stupid🙄. I was talking about a traditional 401k, not a solo-k, big difference. I cannot speak to whatever fees you are charged for facilitating the solo-k, but seems too me they s/b close to zero.
                              Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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