Payroll Options? One person S Corporation

[jwbof]

I have a single member LLC and elected to be taxed as an S corporation. Am looking for options for payroll, am not planning on doing it myself for the time being. There are no future plans for any other employees besides myself. Given this, what companies should I consider for payroll?

I am using Wave right now for the books (the free service), but am open to switching to another service. Also considering changing CPA. I am relatively tech savvy and can write code if needed.

[SeattleCPA]

First, a remark to add context: My CPA firm does tax returns for a couple of hundred S corporations and I used to teach the S corp tax class at Golden Gate University's masters in taxation program...

So, that said, I would go with Gusto. They've got a program that's designed for situations like yours: "one shareholder-employee" S corporations.

BTW, you could also use a DIY approach and we sell a $20 "recipe" called the "Five Minute Payroll System" which you can get more info on here:

https://evergreensmallbusiness.com/ebooks/five-minute-payroll-ebook/

But again my recommendation? Go with something like Gusto. It'll be $300 to $400 a year. You can cover that from your S corp savings. And you'll avoid screwing up the payroll piece of the puzzle.

p.s. I have no financial incentive to promote Gusto... for what that's worth...

[jwbof]

Thanks. I am seeing various companies like Gusto offer different pricing based on:

- basic payroll vs. full-service payroll, the main difference seems to be filing payroll taxes.
- whether one is in a self-serve state (which I am), with lower prices for self-serve states (eg, Wave does this)

If I am in a self-serve state, should I consider basic payroll from a company that offers it?

[Much Fishing to Do]

My CPA referred me to someone local in my small town that just did it from home, charged me $300/year to do everything I think and she would get info from and give info to my CPA directly every year, so I never had to lift a finger.

[SeattleCPA]

Thanks. I am seeing various companies like Gusto offer different pricing based on:

- basic payroll vs. full-service payroll, the main difference seems to be filing payroll taxes.
- whether one is in a self-serve state (which I am), with lower prices for self-serve states (eg, Wave does this)

If I am in a self-serve state, should I consider basic payroll from a company that offers it?

Don't go cheap. That's my advice. Payroll is one of the areas people really screw up with an S corporation.

I would say the situation is roughly analogous to doing an important construction project. Like maybe you're building your dream home. Or maybe you're in the business of building houses. And then deciding to use poor quality or cheap or the wrong tools.