Payroll Companies & Payroll Services in Santa Fe, NM

Overview

Sullivan Field & Smith, LLC is a Santa Fe, New Mexico accounting practice licensed in the state. Payroll is one piece of a broad menu that also covers tax work, bookkeeping and business advisory support. The firm serves owners of small and growing companies, executives and independent professionals.

It describes itself as large enough to handle a wide range of needs yet small enough to know each client by name, and it says it combines personal attention with technical expertise at rates meant to suit smaller organizations.

Why Employers Outsource Payroll

The firm points out that small business owners spend roughly eight hours each month on payroll, which adds up to about twelve working days a year. Handing the task to accountants is presented as a way to cut overhead, avoid hiring specialized staff, and stop maintaining a homegrown payroll system.

It also removes the burden of tracking changes in federal, state and local tax rules, which keep growing more complex. Owners are then free to concentrate on sales, customers and the products or services they provide.

Three Ways to Run Payroll

Because no single approach suits every employer, the firm offers three processing arrangements:

• Comprehensive service: the firm prepares each payroll and laser-prints the checks on blank security stock that satisfies Federal Reserve micro-encoding standards. Direct deposit carries no extra charge.
• After-the-fact payroll: a business prepares its own records manually, and the firm posts that information to its data files and handles the filings that follow.
• Online processing: the employer keys in hours and earnings over a secure connection and prints checks immediately on its own printer. Direct deposit is included here too.

Every option brings the same compliance package:

• federal and state payroll tax reporting, along with EFTPS deposits
• monthly, quarterly and annual tax reports, covering W-2, W-3 and 1099 filings
• detailed accrual reports for vacation, sick and personal days
• preparation and filing of required new-hire reports
• well-organized, current payroll records

Union reports, certified payroll and workers' compensation reports can be added for a modest additional fee.

Agency Reports and Payroll Tax Trouble

A separate custom reporting service addresses the many special reports that government agencies request. It covers workers' compensation audits, unemployment claims, Social Security audits and child support audits, along with W-2/W-3 and 1099/1096 processing and help with federal and state registration forms.

For employers who have fallen behind on payroll tax payments, the firm offers representation. Its guidance stresses that the IRS treats unpaid payroll taxes as an especially serious offense, since much of the money is withheld from employees, and that penalties can multiply quickly. It warns that collection is aggressive and can include asset seizure, and it advises owners never to meet the agency alone, because early answers can shape the outcome.

Wider Business and Tax Services

Since payroll sits within a complete accounting practice, related needs can be handled in one place:

• small business accounting and QuickBooks setup, training and tune-ups
• audits, reviews and compilations
• cash flow management, internal controls and bank financing assistance
• business valuation, strategic planning, succession planning and new business formation
• support for non-profit organizations and litigation support
• tax preparation, tax planning and IRS problem resolution

The part-time CFO service gives growing companies a seasoned financial manager without the expense of a full-time executive. Typical help includes budgeting, profitability analysis by product or service line, trend analysis, cash management, staff training and bank negotiations.

Clients exchange documents through a secure portal that the firm says uses 14 layers of security. Payroll pricing depends on the size of the business and the services chosen, and it is provided after a free consultation.