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5 Best Payroll Tax Software

by Scott Max
I'll offer two ways to find the tool, software or service you need, keep reading our breakdown and recommendations, or tell us about your business and the problem you are trying to solve and we will advise you for free!

So, you are in the market for payroll tax software.

Ideal, because in this article we have our compilation list for our top picks, and we compare the features and pricing for you. 

If you just want the best choice, we’ve added that right at the top of the article as this was what is most requested by our customers. So, that’ll be the “can’t go wrong” option. 

Otherwise, feel free to explore all the options we’ve reviewed on the market to find something that might fit you a little better.

Enjoy the list!

The Best Payroll Tax Software Specifically

Nowadays, every business has started incorporating payroll tax software to manage onboarding and tax returns. However, enterprises have to comply with severe tax regulations and require payroll software that automated the entire tax filing procedure. A platform that offers employee benefits and tax calculations and automatically files your returns will be the perfect fit for this category. Have a look at the products below to choose the best payroll tax software:

1. Paychex

Paychex simplifies your payroll and HR. So you have more time to focus on business growth. It is an integrated suite of services that manages payroll, reporting and employee data. Paychex is not just for managers and business owners; your employees can also access their pay stubs or put up a holiday request from the self-service portal.

Paychex Features

Here are some exclusive features of Paychex:

Automation and ERTC: Paychex offers employee retention tax credit, helping business owners determine eligibility for tax returns and retroactively claim the credit. Additionally, Paychex automates payroll processing. So your employees get paid automatically once the monthly billing cycle arrives.

Paychex Flex: Paychex Flex is a mobile app from Paychex to help business owners automate payrolls and integrate employee data with the HR department. With Paychex Flex, you can simplify payroll administration and set scheduled payments. Additionally, you can set achievable objectives for your employees and award incentives or bonuses based on them.

Time & Attendance: With Paychex, you can accurately track employees' billable hours, whether they're working onsite or from home. Paychex ensures your payrolls are automatically in sync with the timesheets and attendance reports. Moreover, it automatically updates managers regarding time off requests.

Hiring Services: Paychex helps you find the right employee for your organization by showing the best-fit candidates and uncovering important information about potential employees. Additionally, it reduces the onboarding time by offering your new hires a self-service portal.

Digital Marketing and HR Services: Paychex offers an integrated data-driven lifecycle marketing platform that helps small businesses grow through personalized engagement. Additionally, it's also a total HR solution that helps you comply with state and federal regulations plus makes you aware of potential HR issues.

Paychex Pricing 

Paychex offers an On-demand pricing quote for its all-in-one payroll management system. Click on "Request Pricing" and input the company info to get started with a free quote.

2. Justworks

Justworks helps you run payroll seamlessly and takes care of benefits deductions and tax withholdings. You can make vendor and contract payments, onboard recruits and approve vacation requests without any extra charge. Additionally, Justworks comes with a time tracking integration to help you determine accurate billable hours.

Justworks Features

Here are some exclusive features of Justworks:

Employee Benefits: Justworks helps you meet the diverse needs of your team with access to a greater variety of employee health insurance plans. Your employees can seamlessly enroll-in and manage their coverage plans within the Justworks platform. Moreover, Justworks' data-driven underwriting process provides you with a holistic view of your team's requirements.

Efficient Payroll Platform: Justworks simplifies the online payroll process and automates direct deposits for full- and part-time employees. Additionally, you can sync timesheets with Justworks and streamline payroll with a robust time-and-attendance platform. Justworks ensures you comply with your local and federal employment regulations.

HR Management: Justworks handles the administrative HR tasks that bog you down, letting you focus on business expansion. You can onboard employees through the online dashboard and track business insights with customized reports. Justworks highlights the most relevant data points and presents them in a comprehensible manner.

Employee Management: With Justworks, you can manage all employee-related actions on one platform. It offers your workforce a self-service portal where they can access pay stubs and put up time off requests. Similarly, managers can approve or deny vacation requests within Justworks.

Full-service Support: Justworks provides full-service support for technical glitches or onboarding problems. You can access better employee benefits and streamline payroll with Justworks. Additionally, Justworks' certified HR consultants are available round-the-clock to offer tailored guidance.

Justworks Pricing

Justworks offers 2 Subscription plans for its payroll and HR management solution.

The "Basic" plan is priced at $59/month/employee and $49/month for your 50th employee onwards. It includes off-cycle payments, payroll tax filings, reporting and commuter benefits.

The "Plus" plan is priced at $99/month/employee and $89/month for your 50th employee onwards. It includes COBRA administration, medical insurance, health advocacy services and HR consulting.

3. OnPay

OnPay is a precise HR and payroll management platform that keeps accurate records and ensures tax compliance. OnPay strives to increase your team's productivity levels and makes onboarding easier with minimal paperwork. OnPay lets you focus on business expansion while it manages your payroll.

OnPay Features

Here are some exclusive features of OnPay:

Full-service Payroll: OnPay is a fast platform and does all the heavy lifting. You can run multiple payroll schedules for different employees, withhold all payroll taxes, deduct garnishments and get detailed payroll reports within OnPay. Additionally, OnPay lets you save custom views with its report designer.

Special Payroll Services: OnPay caters every small business's specific requirements without extra charges. Restaurants can calculate tipped wages, nonprofits can get exemptions from federal unemployment tax, and farms can process separate tax filings for agricultural workers and non-farm employees.

Accountant Dashboard: OnPay offers an accountant dashboard where you can view your clients and stay on top of all payroll-related tasks. Moreover, OnPay supports integration with Xero and QuickBooks, helping you precisely keep records and manage accounts. With OnPay, you can maintain a profitable wage structure and organize all transactions.

Employee Self-service: OnPay provides your employer with a self-service portal where they can do self-onboarding, access pay stubs or personal tax documents and pull employment data from the records. OnPay ensures your employees have the access to intrinsic information and can choose their benefit plans.

Essential HR Tools: OnPay lets you create automated onboarding workflows and kick off the process with a customizable offer letter. It automatically reports new hires to the state and lets you delegate non-HR tasks. With OnPay, you can review custom personnel checklists and use built-in document templates.

OnPay Pricing

OnPay charges $40/month as a base fee plus an additional $6/month per person. OnPay offers one simple price for its payroll management platform and unlocks all functionalities.

4. Paycom

Paycom is attributed with being one of the first fully online payroll providers. It offers an employee-driven solution that helps you with talent acquisition, payroll, HR management and time tracking. Additionally, Paycom reduces post-payroll corrections by allowing your workforce to verify and approve their paychecks for accuracy.

Paycom Features

Here are some exclusive features of Paycom:

Applicant Tracking: Swift action is crucial to keep the best applicants from falling through the cracks during the hiring process. Paycom provides an applicant tracking system that helps you distribute jobs, create requisitions and evaluate candidates. Additionally, it offers e-verification and enhanced background checks for a seamless experience.

Onboarding: With Paycom, you can swiftly and seamlessly transition high-calibre recruits to productive contributors. You can ensure you retain your hard-won hires by streamlining the onboarding process. Paycom offers a self-service portal for employees where they can access training sessions and understand the work culture.

Tax Credits: Paycom's risk-free tax credits service identifies, secures and administers the government incentives available, improving your business's financial position. Additionally, it provides a financial incentive for business leaders to hire workers from groups that are underrepresented or face significant barriers to employment.

Garnishment Administration: With Paycom's garnishment administration, you can notify support when an employee is subject to garnished wages and let them handle the calculations and record-keeping. Moreover, the specialists administer garnishments by managing them from receipt of the order to expiration.

Expense Management: Paycom's expense management software simplifies the entire reimbursement process. It offers higher visibility into on-demand analytics and customizable reports on expense transactions, approval audits and spending by department.

Paycom Pricing

Paycom offers an on-demand pricing quote for its payroll management platform.

5. Gusto

Gusto provides a modern HR platform for payroll managers and employee onboarding. It offers a smart interface that empowers your teams and pushes your business towards growth. With Gusto, you can pay your employees, check attendance records, do hiring or analyze reports on a centralized platform.

Gusto Features

Here are some exclusive features of Gusto:

Payroll: Gusto lets you run your payroll in minutes, infinite times, without any overcharging. You can set everything on autopilot, and Gusto will sync your team's hours automatically. Additionally, Gusto calculates your taxes and files them with the right government agencies.

Hiring & Onboarding: From hiring your first employee to scaling your ever-growing businesses, Gusto assists you in finding great employees who fit your organization like a glove. You can create custom onboarding checklists for new hires and post job listings. Additionally, Gusto offers integration with leading applicant tracking systems so you can directly import new hires into payroll.

Time Tools: Gusto offers automated time tools that help you manage time off, holidays, workforce costs and team hours. You can verify the billable hours with geolocation and automatically sync them with payroll after the approval. Additionally, Gusto provides project tracking. So you can analyze your productivity and costs.

Employee Benefits: Gusto understands the latest business strategies revolve around employee welfare. A paycheck is not enough to keep your team motivated and productive. With Gusto, you can provide health and financial benefits to support and motivate your team. Additionally, Gusto ensures you protect your team and stay compliant with labour laws.

Gusto Wallet: Gusto provides your employees with a money tracking and saving tool named Gusto Wallet. You can set upto 5 Savings objectives, change contributions and transfer them to your spending account. Additionally, Gusto provides a debit card that processes transactions 2 Days faster.

Gusto Pricing

Gusto offers 4 Pricing options for its payroll and HR management software.

The "Simple" plan is priced: at $40/month plus an additional $6/person. It offers employee financial benefits, basic onboarding tools and payroll reports.

The "Plus" plan is priced: at $80/month plus an additional $12/month. It offers next-day direct deposit, advanced onboarding tools, PTO management and time tracking.

The "Premium" plan offers an exclusive pricing quote. It provides an HR resource centre, compliance alerts, performance reviews and health insurance broker integration.

The "Contractor Only" plan is for businesses without any W-2 employees and is priced: at $6/month/user.

Why use Payroll Software at all?

Every business has to deal with tax filings, employee regulations and financial transactions. As your organization scales, your demands get bigger, and so does your workforce. At one point, it becomes troublesome to depend on manual entry from your accounting team. You must cross-check every detail and still can not be certain about missing out on errors.

Payroll software helps you manage employee onboarding and payroll, plus file accurate tax returns. You can schedule payments and recurring deductions to keep your payroll running even when you're unavailable. Additionally, you can offer employee benefits like retirement and insurance plans to your workforce.

Why should you use Payroll Tax Software?

Every business, no matter the size, must comply with federal and state tax regulations. Even homeowners who employ household help are considered a business by the IRS and need to run a payroll, record transactions and accurately file taxes.

Having a dedicated platform to manage the tax filing and pay run scheduling can vastly improve your business. It lets you focus on the growth-driving factors and keeps your workforce motivated by providing performed-based incentives.

Payroll tax software is built specifically to help you automatically file taxes, schedule recurring deductions and manage wage structure. You can provide additional employee benefits like retirement plans or insurance schemes.

Additionally, payroll software assists you with talent recruitment, applicant tracking and employee onboarding. It ensures your HR department has the necessary tools to thorough do a background check and screening before making a final offer.

Payroll Tax Software, A Summary

Filing tax returns periodically and accurately is essential for every business to avoid the wrath of federal agencies. However, the entire procedure of collecting receipts, deducting expenses and calculating liable amounts is too much to handle manually. Payroll tax software automates the tax filing process and ensures you can focus on aspects that drive your growth.

Paychex offers extensive functionality and puts your payroll system on autopilot. Additionally, it automates tax calculation and filing, ensuring you're always compliant with the regulations. Paychex is our suggested pick for Payroll Tax Software. Visit the website to get started.

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