How Start-ups & Small Business Can Protect Against the Problem of Payroll Tax Embezzlement

San Jose, Calif. – May 2, 2013 – According to CPA Mark Sheffield, Principal in charge of Abbott, Stringham & Lynch’s Emerging Business Group, outsourcing payroll to a small payroll service firm could pose a significant financial risk to start-ups and small businesses.  “While small payroll service firms can provide a lower-cost higher-touch service experience for emerging businesses, they’re also more likely to perpetrate embezzlement of your payroll tax payments than a big firm due to lack of oversight that leads to increased opportunity,” said Sheffield.

However, if you feel that a small payroll service firm is the right solution for your business needs, Sheffield recommends you consider implementing two or more of the following four controls…

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