The best direct deposit for 1099’s only?
I read your article on best payroll options for small business dated Jan, 2018. I have a tasting company, with no employees only 1099’s. They conduct tastings at Liquor and Grocery stores throughout the month for various suppliers. I have over 100 1099’s, currently I send out checks using Quickbooks. Quickbooks payroll is very expensive and I’m looking for an affordable way to pay my 1099’s through direct deposit. Just wondering which company of those you wrote about you would recommend or if there is something else out there?
Personally, I’m quite fond of Gusto. It’s$39 a month plus $6 per worker per month and they do all your tax filing in addition to direct deposit, onboarding, online documents W9s, e-signature and much more. They even provide a dashboard so employees can view and update their info on line (so you get HR software and labor law compliance in the price.) Here’s a review of Gusto.
If that’s too pricey, consider Payroll4Free. It’s a bit more manual but should work for you as they can do 1099s and only charge $12.50 per month to do the tax filings, saving you time. Here’s a review of Payroll4Free.
I’m also going to share an article on W2 vs 1099 workers as it’s strange to me to hear of a business that only has 1099 contractors. And here’s one on labor laws if that helps, since once you push past 50 employees, lots of laws come into play.