Octagon Payroll Services, Inc. provides a wide range of services to individuals and businesses in a variety of industries. At Octagon Payroll Services, Inc., we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include:
- Direct Deposit
- Tax Filing Services
- Employment Screening
- Paperless Payroll
- Garnishments Pay Systems
- Benefits Administration
- Accountant's Connection
Direct deposit options make life easier for the employer and the employee.
- Reduce the payroll-related time and expense of preparing and reconciling paychecks
- Decrease check fraud exposure
- Save time and protects confidentiality
- Better business banking relationships with free checking for employees
Convenience and accuracy; direct deposit helps you eliminate check distribution and keeps your employees happy.
For the old fashioned back to basics time clocks to a software-based time and attendance system, we can help manage your employees time and get maximum results. Our systems allow you to collect and organize your employee time data simply and accurately, with the most state-of-the-art methond of time management for today's businesses.
Tax Filing Services
Remember the days of mailing tax payments with coupons or going to the bank waiting on line to submit a tax payment? Well those days are over. With our electronic tax filing service, instant confirmations relieve the stress of paying your taxes and worrying about penalties. More states are requiring businesses to electronically file their withholding and unemployment tax returns. We can make sure all filings are done correctly...- Penalty Free!
Employers in 15 states (and the Virgin Islands) may not be eligible to claim the maximum amount of state unemployment tax credits on their 2014 federal unemployment (FUTA) tax return because their state has had an outstanding federal unemployment insurance (UI) loan for at least two years. Background. Employers pay FUTA tax at a rate of 6.0% on the first $7,000 of covered wages paid to each employee during a calendar year, regardless of when those wages were earned. This tax may be offset by credits of up to 5.4% (known as the “normal credit” and “additional credit”) against their FUTA tax liability for amounts paid to a state UI fund by January 31 of the subsequent year. The net FUTA tax rate for most employers is 0.6% (i.e., 6.0% − 5.4%). Under Title XII of the Social Security Act, states with financial difficulties can borrow funds from the federal government to pay UI benefits. If a state defaults on its repayment of the loan, the amount of state UI tax credits that employers in the state may claim is reduced. Employers in credit reduction states pay FUTA tax at a 0.3% rate higher than other employers, beginning with the second consecutive January 1 in which the loan is not repaid by November 10 of that year. (Code Sec. 3302(c)) For each succeeding year in which there is a balance, the credit is further reduced by an additional 0.3%. Under Code Sec. 3302(g), provided that certain requirements are met, a state with an outstanding loan under Title XII may repay any advances using its unemployment trust fund account in lieu of having the credit reduction rules apply to its employers. Potential 2014 FUTA credit reduction states. The following states (and the Virgin Islands) will be credit reduction states in 2014, unless they repay their outstanding federal UI loans by Nov. 10, 2014, because, according to the Department of Labor, they have had an outstanding federal UI loan for at least two years: Arkansas, California, Connecticut, Delaware, Georgia, Indiana, Kentucky, Missouri, New Jersey, New York, North Carolina, Ohio, Rhode Island, South Carolina, and Wisconsin. (Source: Thomson Reuters)
We're excited to announce that we can now offer instant and affordable background searches through our partnership with National Crime Search (NCS). Through our website, we can now provide you complete employment screening solutions. Our partnership provides you with secure and affordable access to a web-based national criminal and sex offender directory that includes over 507 million criminal records covering all 50 States plus the District of Columbia, Guam, and Puerto Rico. visit our partner site now: www.octagonpayroll.nationalcrimesearch.com
New Hire Reporting
Most states require employers to report information related to all newly-hired employees. Failure to comply with new hire reporting guidelines may result in a penalty. Octagon Payroll offers this service at no additional cost. It is included with your payroll processing free of charge.
Packaged with our employee direct deposit program, payroll checks and reports can be delivered via email. This will save on delivery and payroll turnaround is quicker than ever.
At our firm, we believe the most important goal of our website, is to serve our clients to the best of our ability. One way we accomplish that is by offering a unique service to you - NetClient. NetClient is a secure means for you to communicate with us, and for us to transact business. NetClient allows you to work and access information when it is convenient for you. We've put together a short demonstration of what this service can do for you.
Click here to view a demo of the Netclient Video.
Garnishments Pay Systems
Save time calculating complex child support and tax levy minimums and maximums. We can calculate your employees' net disposable income for you.
Questions about state or federal laws, labor related matters, our team of professionals will help keep you in compliance.
Whether setting up your employees to set aside for retirement or a cost effective health insurance plan, we help save employers and employees money.
"Pay As You Go" with XactPAY® - The Hartford's integrated payment service that calculates insurance premiums for a Hartford Workers' Compensation policy which amount is then withdrawn directly from your bank account every time you run payroll. XactPAY® offers a unique and hassle free approach to paying for Workers' Compensation insurance. Rather than paying for insurance up to a year in advance and tying up vital cash, premiums are paid as you go one payroll period at a time.
Octagon Payroll Services would like to continue The Accountant's Connection. We know how time consuming processing payroll and filing payroll taxes becomes therefore we are reaching out to Accounting firms in the local area and extending our services to you. It is important to give your clients the best service available and our firm is confident that we can help you save time with consuming tasks while giving you the opportunity to work with more difficult tasks. We work hand in hand with many accountants and they are pleased with our services. The reports and information we provide helps tie up loose ends without the stress and gives you the peace of mind to handle other issues. If you would like to find out more information about The Accountant's Connection feel free to call our office at 718-746-1313 or email us at Payroll@OctagonPayroll.com. We look forward to partnering with you.