Restaurants have complex laws governing wages and tips, so payroll can be challenging to manage. Preferred Payroll reduces these challenges, as well as the risk of compliance penalties.
FICA Tip Credit Report
This report gives restaurants the opportunity to capitalize on a special tax credit which can amount to hundreds of dollars per employee annually.
Shortfall Report & Tracking
This report informs you that employees haven't earned enough wages to meet their taxes and voluntary deductions, allowing you to recover the funds from their next paychecks. Preferred automatically tracks these shortfalls and collects them until they are fully repaid.
Form 4070 Sign-Off Sheet
Maintain written proof of employee tips, and find out how to fulfill your tip reporting obligations.
TEFRA Service
To meet the additional tip reporting requirements of large food or beverage establishments, we calculate your tip allocations, report the totals on W-2 forms, and prepare your Form 8027.
TESTIMONIALS
We have been using Gwen and Payroll Solutions, as our payroll services company for almost four years. It has been a great experience, the service is wonderful, everything is executed and filed on time and best of all it is virtually paperless.
------The Chimneys - Golf Course
We have always been more than satisfied with the service that Gwen provides. When we had the need for payroll services a few years back, we knew that there was no way for us to keep up with all of the tax code changes and filing requirements while trying to actually run our own business at the same time. With Payroll Solutions, all of that is taken care of. Gwen is one of the most valuable members of our team. As long as we have employees to pay, I’ll count on Gwen to make sure that it is done right!
-------KJ Allen, President/Managing Member, Oconee Radio Group
