PAYROLL (FAQ)

Our Payroll FAQ page is here to answer your payroll process and solution questions.

What the difference between an LLC and a corporation?

There are many differences between an LLC and a corporation, both large and small. One of the most significant differences is the ownership structure. An LLC is owned by one or more individuals, while a corporation is owned by shareholders.
How much does it cost to incorporate a business?

SmartCloud Tax offers our LLC formation service at no cost; however, your Washington State will charge a tax-deductible fee, which varies by license type. Our fees apply only to value-added business services, available at different price points based on your selected package.
What type of business entity should I start?

We generally recommend forming an LLC due to its numerous advantages for small business entrepreneurs. After forming an LLC, you have 75 days to consider choosing a different business structure, such as an S corporation.
How long does it take to have my business registered with the state?

Most states process business registrations within 14 business days, although this timeframe can vary based on their current workload. Once your filing has been submitted, your SmartCloud team will notify you through the message center with an update.
When will I receive my EIN Number?

Once approval is received from the state, we apply for the EIN number, and we will deliver all of your documents in your SmartCloud Tax Client Portal. Approval is normally completed within 3 business days.
What are the next steps after I have my business paperwork?

With the documents we provide you will be able to open a business bank account as long as you have the state correspondence, EIN letter and Operating Agreement (available as an add-on purchase). Please note that SmartCloud Tax & Accounting is not involved in licensing and permits associated with business registration. To continue with those it would be best to contact your state’s Secretary of State or ask your SmartCloud Team for more information.
How do I elect to be an S corp?

We will supply you with a pre-filled IRS Form 2553, containing all your necessary details. Just print, sign, and send the form to the IRS to elect S corporation tax status.
How do I communicate with the team handling my formation/dissolution?

Send messages to your team directly through the message center in your SmartCloud Tax Client Portal. This is your go-to place for all inquiries and communications.

Welcome to the Payroll FAQ page!

We understand that managing payroll can be complex and time-consuming, which is why we offer payroll solutions tailored to the needs of your business. Here, you’ll find answers to common payroll questions and learn how we can help streamline your payroll processes.

1. What payroll services does SmartCloud offer?

SmartCloud provides a full suite of payroll services, including payroll processing, direct deposits, tax withholding, payroll tax filing, and year-end tax document preparation. We also handle employee benefit deductions and compliance with employment-related legal and regulatory requirements.

2. How does outsourcing payroll benefit my business?

Outsourcing your payroll to SmartCloud can save you time and reduce the risk of errors. It ensures that your employees are paid correctly and on time, every time. Additionally, we keep abreast of changing payroll regulations, helping you stay compliant with federal, state, and local tax laws, thus reducing the likelihood of costly penalties.

3. Is SmartCloud’s payroll service suitable for all business sizes?

Yes, our payroll services are designed for businesses of all sizes, from startups to large corporations. We customize our services to match the specific needs of your business, regardless of the number of employees or the complexity of your payroll requirements.

4. How secure is SmartCloud’s payroll processing?

Security is a top priority at SmartCloud. We employ robust encryption technologies and multiple layers of security protocols to protect your data and ensure the confidentiality and integrity of your payroll information.

5. Can SmartCloud integrate payroll with other financial systems?

Absolutely! We can integrate your payroll system with other financial and HR systems to provide a seamless back-office operation. This integration helps in maintaining consistency across your financial records and simplifies management reporting.

If you have more specific queries or need guidance on setting up payroll services tailored to your business, please reach out to us. At SmartCloud Tax & Accounting, we are dedicated to providing efficient, reliable, and secure payroll solutions to help your business thrive.