Hassle-Free Payroll Services for U.S. Small Business
Automate paydays Stay compliant
with M7™
Payroll services simplify paydays, ensure compliance, and ease year-end tax filing for businesses of any size.
Every payroll package includes your own dedicated accountant
Essential
Suitable for self-employed or solo entrepreneurs.
- Dedicated accountant
- Single-state payroll
- Easy, guided set-up
- Standard reporting
Pro
Suitable for small businesses looking for employee benefits and HR assistance.
- Everything in Advanced, and:
- Workers’ compensation
- HR tools and resources
- Timekeeping
Advanced
Suitable for small businesses with more than one employee.
- Everything in Essential, and:
- State tax registration guidance
- Easy pay-out for contractors
- Comprehensive reports
- Year-end W2s and 1099s
How M7 Works
1. Schedule a Free Call
Consult with our team about your unique payroll requirements, and receive a tailored quote during your initial consult.
2. Meet your accountant
Based on your unique business situation, you’ll get access to an accountant who best meets your needs.
3. Get Result
Get back to business! Need to reach your accountant? Connect via phone, video, Odoo discuss App, or email.
Save time, cut costs, and ensure worry-free compliance
Receive a variety of accurate, user-friendly payroll reports. For a small fee, we’ll include union, certified payroll, workers’ compensation reports, and more.
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Dedicated payroll specialist for your industry in the USA
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Personalized support for all IRS filings
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Accurate calculations compliant with US regulations
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Electronic IRS filing + record keeping
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24-7 access to your online portal
Key Pay Elements That Impact Payroll
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Workers’ Compensation
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Minimum Wage & Tips
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Overtime
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Payment method
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Pay Stub Laws
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Minimum Pay Frequency
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Paycheck Deduction Rules
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Final Paycheck Laws
Need help with Payroll? Start Here
Yes. There are four key taxes in the US that apply federally. These include:
- Federal Income Tax
- Social Security Tax
- Medicare Tax
- Federal Unemployment Tax Act (FUTA) Tax
Payroll compliance in the US pertains to the measures that all employers need to adopt in order to adhere to tax laws, regulations governing wages and work hours, and other relevant mandates concerning payroll.
These measures encompass tasks such as keeping accurate records for each employee, deducting and submitting taxes, applying accurate tax classifications for the enterprise, managing and submitting wage garnishments, following federal and state overtime regulations, and similar responsibilities.
Employers must comply with various payroll regulations governed by the government.
The federal labor laws are established by the U.S. Department of Labor (DOL), and the enforcement of federal payroll tax laws is managed by the Internal Revenue Service.
Well, the IRS is unable to invalidate your EIN. Once an EIN is allocated to a business entity, it becomes the permanent federal identification number for that specific entity. Regardless of whether the EIN is employed for filing federal tax returns, it remains unique and will not be reassigned to another business. The EIN remains affiliated with the business entity and can be utilized in the future, if necessary.
However, should you acquire an EIN but subsequently determine that it’s unnecessary (for instance, if the new business doesn’t materialize), the IRS can close your business account.
To deactivate your business account, you can forward a letter to the IRS containing the full legal name of the entity, the EIN, the business address, and an explanation for wanting to close the account.
Typically, the federal payroll tax percentage is approximately 15.3%, divided between employees (7.65%) and employers (7.65%). If you work for yourself, like a sole proprietor or business owner, you’re accountable for the entire 15.3%, often termed as self-employment tax.
Depending on your situation, there might be additional taxes and credits that could alter the payment obligations of your business. Both employers and employees contribute to federal employment taxes, encompassing contributions towards Social Security, Medicare, and unemployment insurance.