I own an LLC that is elected to be taxed as an S corp.
Will the payroll company that I choose to hire, have total control of the company’s business account, in order to send checks to the employees of the company?
Hey John, thank you for your question. To my knowledge, payroll service companies do not have access to your bank account. You will provide them with the bank account number and routing information so that they can ensure payroll checks and payments are withdrawn from the right account but I believe you are still in control of the actual account.
My advice would be to contact the payroll service companies you are considering and ask them what their process is for handling employee payroll checks and payroll tax payments. Our recommended payroll service is Gusto. You can click the link below to sign up for a discount off of their payroll services. In addition, I have included a link below our payroll services guide which features the top payroll service companies we recommend.
Payroll Services guide: https://fitsmallbusiness.com/best-payroll-services/
Best of luck,
Crystalynn Shelton, CPA