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Payroll audits play a crucial role in ensuring compliance and accuracy in business finances, particularly for small businesses. Proper payroll practices are not just about compensating employees correctly but also about staying compliant with complex payroll tax laws, federal and state regulations, and company policies. A payroll audit offers an opportunity to examine your company’s payroll processes and make necessary adjustments to avoid costly mista
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es. This guide provides comprehensive insights into preparing for an audit. It covers the importance of payroll audits, how small businesses can ready themselves, what auditors look for, and actionable tips for a smooth audit experience.