Payroll Services.

Payroll is an essential part of business – you have to pay your employees, make the correct deductions and file taxes. It’s easy to make a mistake and, when there are errors, you end up with costly fines and disgruntled employees. There are more than 15,000 tax codes, regulations, and rules to follow concerning a multitude of topics such as classification of employees, overtime rules, tax deposits and filings, state unemployment, benefits and more. Furthermore, these codes are updated on a regular basis, some even daily. In 2013, the IRS issued $4.5 billion in penalties for employment taxes alone. The attention to detail is very important!

Outsourcing this task gives business owners the opportunity to focus on their core business. When you own a business, it can be a challenge to juggle all of the tasks required to run your operation smoothly and efficiently. Kazdon provides your business with industry experts serving as your “internal” payroll department and dedicated to making sure your business is in compliance and deadlines are met so you can focus on running and growing your business. Building solid relationships with our clients and earning their trust through superior payroll services is our overriding concern.

PAY AS YOU GO WORKERS’ COMPENSATION

Kazpayroll works in conjunction with the Pay As You Go Workers Comp Program. More than ever, employers need real solutions to help them reduce the cost of insurance coverage and improve business cash flow. Pay As You Go workers compensation now enables businesses to buy workers comp with little or no money down. You can pay your premium automatically via payroll throughout the course of the year. These premium payments are based on real-time payroll wages and reporting rather than projected payroll. This helps protect against audit exposure and large audit bills.

The job classifications and real time data are transferred directly to the carrier eliminating the need for a year-end audit saving you time and the headache of an audit. Pay As You Go is simply a better way to purchase workers compensation insurance.

In a Pay As You Go Workers’ Compensation program, there are various benefits for the employer.

Some of the benefits include:

  • Eliminating or greatly reducing the down payments
  • Eliminating premium financing
  • Eliminating checks to write
  • Reducing premium audit risk
  • Reduced premium adjustments when premium audits do occur
  • Improved cash flow by adjusting premiums to payroll changes
  • Possible lower overall cost of work comp coverage

How Does the Program Work:

A Pay As You Go program is often set up in conjunction with the payroll program of the employer.  In the Pay As You Go program, the employer with the assistance of Kazdon reports each week (or bi-weekly) the pay for each employee combined with the classification code for the employee. The premium is then calculated for the employer using actual payroll amounts.  This eliminates the large lump sum payments, making the workers’ compensation insurance premium an expense the employer can budget. It also greatly reduces the carrier’s need for a premium audit at the end of the policy year.

The workers’ compensation carriers offering a Pay As You Go program use real-time payroll data that is transmitted to them by Kazdon. Kazdon system calculates the premium based on the payroll reported, and the job classifications. To collect the premium, Kazdon uses an electronic funds transfer from the employer’s bank account to their bank account.  The computer’s calculations for the workers’ compensation carrier will include not only the gross wages paid to each employee, but also add in vacation pay, bonuses, commissions  and other forms of compensation. The computers are also programmed to exclude overtime pay (in most states).  State specific exceptions are included in the programming.

A Pay As You Go insurance program can make payment for work comp insurance easier for the employer. Real time premium computation is the future of workers’ compensation and our staff knows the best plans and has more options than anyone in this arena.

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