Payroll

Wages and salaries are a people business

Wage and payroll accounting consists of many individual components, such as compensation arrangements, employment benefits, stock options, social security, company pensions, and professional associations. The entire process must be timely and accurate, and the constant changes in payroll tax, social security, and labour laws regulations must be observed.

How you benefit

A solid wage and payroll system is essential for keeping employees happy. It must satisfy privacy requirements and provide information for management, and it needs to avoid additional payment risks from social security contributions and taxes.

Our wage and salary services can be customized to fit corporate, personnel, and industry-specific characteristics. Upon request, we also offer related services such as payment transactions and travel expense deductions.

For many companies it does not make financial sense to set up an entire department and employ the required expertise to keep things running. That is where LM can step in to help.

Why LM?

We are able to support professionally in a number of areas, from payroll to complex international matters. By offering vacation and sick leave, as well as observing the two-man-rule, we ensure absolute reliability and prevent mistakes. In addition, we can provide an interface with accounting and labour law.

Upon request, we can handle income tax and social security audits at our offices, and we can offer advice regarding optimization of payroll tax and social security contributions. For our foreign clients, we can provide payroll accounting in English.

For clients with their own personnel departments, we offer division of labour solutions. If necessary, we can also work on-site and within the system of the client.

Clients

Our wage and salary clients are mainly medium-sized companies, permanent establishments, and subsidiaries of international groups.

Services

  • Monthly wages and salaries in German and/or English, including the necessary income tax and social security returns
  • Administration of holiday and working-time accounts
  • Settlement of travel expenses (full coverage or processing of pre-entered data by means of a web-based travel program)
  • Payment transactions
  • Evaluations of professional associations and statistical objectives
  • Economic analysis and personnel forecasting corresponding to the needs of our clients
  • Support for payroll tax and social security audits
  • Advice on special employment tax issues in an international context
  • Clarification of social security law issues (e.g., clearing procedures for managing partners, indemnification, and reimbursement procedures for foreign workers)

Contacts

 Bernd Freutel | to profile | direct contact