"After Hurricane Sandy flooding concerns, Newburst explained my flood zone status and got me proper NFIP coverage my previous agent never mentioned. Peace of mind knowing my Rockville Centre home is actually protected."
Payroll Services
Payroll Services in Valley Stream, NY
Newburst Financial offers payroll services in Valley Stream, NY, for small businesses with employees in New York, New Jersey, and Connecticut. We run payroll on your schedule, set up direct deposit, calculate and file payroll taxes, handle new hire reporting, and prepare W-2s and 1099s at year end. From your first hire to a growing team, owner Chavelt Saint Charles helps you pay your people correctly and file every return on time. Call (888) 882-1582 to set up payroll for your business.
What Is a Payroll Service?
A payroll service, also called payroll processing, calculates your employees’ pay, withholds the right taxes, pays your team, and files the payroll tax returns your business owes. Instead of tracking rates and deadlines yourself, you send hours and pay details, and your payroll provider handles the rest.
Payroll errors are costly. Late tax deposits and filings bring IRS and state penalties. Payroll taxes withheld from employee pay that never reach the IRS can also make business owners personally responsible for the unpaid amount.
Payroll Services We Offer
Payroll Processing and Pay Stubs
We calculate gross pay, overtime, and deductions for each pay period, then provide a pay stub for every employee showing earnings, taxes, and deductions.
Direct Deposit
Employees receive their pay directly in their bank accounts on payday. We can also set up paper checks for employees who prefer them.
Payroll Tax Deposits and Filings
We calculate federal and state payroll taxes, make deposits on your behalf, and file your quarterly and annual returns. To file for you, we use an IRS reporting agent authorization (Form 8655), which you sign once during setup.
New Hire Reporting
New York, New Jersey, and Connecticut each require employers to report new hires to the state, generally within 20 days of the hire date. We submit these reports as part of onboarding a new employee.
W-2 and 1099 Preparation
At year end, we prepare and file W-2s for employees and 1099-NEC forms for independent contractors you paid $600 or more, along with the transmittal forms the IRS and the Social Security Administration require. [Verify: the 1099-NEC threshold rises to $2,000 for payments made in 2026 under the 2025 federal tax law. Confirm before publishing.]
Contractor Payments
If you pay freelancers or subcontractors, we help you collect Form W-9 before the first payment and track what you pay them, so the 1099 numbers are right at year end.
Multi-State Payroll
If your employees live in one state and work in another, or work from home across state lines, we withhold the right state taxes for each person. This comes up often for businesses with staff commuting between New York, New Jersey, and Connecticut.
Federal Payroll Taxes Every Employer Handles
The table below shows the federal payroll taxes for 2026. Your payroll provider calculates and deposits these every pay period.
| Tax | Who Pays | 2026 Rate | Wage Limit |
|---|---|---|---|
| Social Security | Employee and employer | 6.2% each | First $184,500 of wages per employee |
| Medicare | Employee and employer | 1.45% each | No limit |
| Additional Medicare | Employee only | 0.9% | Wages above $200,000 |
| Federal unemployment (FUTA) | Employer only | 6.0%, usually reduced to 0.6% after the state unemployment credit | First $7,000 of wages per employee |
| Federal income tax withholding | Employee only | Based on the employee’s Form W-4 | No limit |
The IRS explains each of these in Publication 15, the Employer’s Tax Guide.
State Payroll Requirements in New York, New Jersey, and Connecticut
Each state has its own payroll taxes, insurance rules, and filing forms. This is where most small business payroll mistakes happen.
| Requirement | New York | New Jersey | Connecticut |
|---|---|---|---|
| State income tax withholding | Yes, plus NYC and Yonkers tax for residents of those cities | Yes | Yes |
| Unemployment insurance | Paid by the employer | Paid by both employer and employee | Paid by the employer |
| Disability and paid leave | Employer must carry disability and Paid Family Leave coverage, and may deduct part of the cost from employee pay within state limits | Employees contribute to Temporary Disability and Family Leave Insurance, and employers also contribute to disability | Employees contribute 0.5% of wages to CT Paid Leave through payroll |
| Main quarterly filing | Form NYS-45 | Forms NJ-927 and WR-30 | Form CT-941 for withholding, plus a quarterly unemployment return |
| New hire reporting | Within 20 days | Within 20 days | Within 20 days |
| Workers’ compensation | Required for most employers | Required for most employers | Required for most employers |
Rules and rates change, so we confirm current figures with the New York State Department of Taxation and Finance, the New Jersey Division of Taxation, and the Connecticut Department of Revenue Services each year.
MCTMT for Nassau and Suffolk Employers
Nassau and Suffolk counties are part of the Metropolitan Commuter Transportation District. Employers there owe the Metropolitan Commuter Transportation Mobility Tax (MCTMT) in any calendar quarter when their payroll expense across the district exceeds $312,500. We track your quarterly payroll against this limit so you know when the tax applies. Details are on the New York State MCTMT page.
Not sure which state taxes apply to your team? Call (888) 882-1582 and tell us where your employees live and work. We will walk you through the registrations and filings your business needs.
New W-2 Reporting for Tips and Overtime in 2026
A 2025 federal tax law created new deductions for qualified tips and the premium portion of overtime pay. Starting with 2026 wages, employers must report these amounts separately on Form W-2.
| W-2 Item | What It Reports | Who It Affects |
|---|---|---|
| Box 12, code TP | Total cash tips reported to the employer | Restaurants, salons, barbershops, and other businesses with tipped staff |
| Box 12, code TT | Qualified overtime, meaning the extra “half” of time-and-a-half pay | Any employer paying overtime required by the Fair Labor Standards Act |
| Box 14b | Treasury tipped occupation code for each tipped employee | Employers reporting tips with code TP |
The 2026 W-2s go out in early 2027. Tracking tips and overtime correctly throughout the year makes year-end reporting accurate and helps your employees claim their deductions.
Payroll and Workers’ Compensation in One Office
Workers’ compensation premiums are based on your payroll, so the two are closely linked. Because Newburst Financial also offers business insurance, we can review your workers’ compensation coverage and, in New York, your required disability and Paid Family Leave coverage at the same time as your payroll. Ask us whether pay-as-you-go workers’ compensation is available for your business. It bases premiums on each payroll instead of an annual estimate, which can reduce surprises at audit time.
Payroll Tax Deadlines
| Deadline | Due Date | What Is Due |
|---|---|---|
| Federal tax deposits | By the 15th of the next month for monthly depositors, or on the IRS semiweekly schedule | Withheld income tax, Social Security, and Medicare |
| Form 941 | April 30, July 31, October 31, and January 31 | Quarterly federal payroll tax return |
| State quarterly returns (NY, NJ, CT) | Generally the last day of the month after each quarter ends | State withholding and unemployment returns |
| Form 940 | January 31 | Annual federal unemployment tax return |
| W-2s and W-3 | January 31 | Employee wage statements, filed with the Social Security Administration |
| 1099-NEC | January 31 | Contractor payment statements, sent to contractors and filed with the IRS |
When a due date falls on a weekend or holiday, it moves to the next business day. The next deadlines are November 2, 2026, for third-quarter Form 941, and February 1, 2027, for 2026 W-2s, 1099-NEC forms, and Form 940.
What We Need to Set Up Your Payroll
- Your federal Employer Identification Number (EIN)
- State withholding and unemployment account numbers for each state where you have employees
- Your state unemployment tax rate notices
- Form W-4 and the state withholding form for each employee (IT-2104 in New York, NJ-W4 in New Jersey, CT-W4 in Connecticut)
- Pay rates, pay schedule, and any deductions such as health insurance or retirement contributions
- Bank details for the business account and for employee direct deposit
- Year-to-date payroll records if you are switching from another provider mid-year
- Your workers’ compensation and, in New York, disability and Paid Family Leave policy details
Keep Form I-9 for each employee in your own files. It is not sent to the IRS or the state.
How Our Payroll Service Works
- Free consultation. Call (888) 882-1582. We review your team size, pay schedule, and the states where your employees work.
- Setup. We collect your setup information, confirm your state registrations, and get your signed filing authorization.
- Every payday. You send hours and any changes. We calculate pay, process direct deposit, and provide pay stubs.
- Every quarter. We make your tax deposits and file your federal and state payroll returns.
- Every year end. We prepare W-2s, 1099s, and your annual federal unemployment return.
Protecting Your Payroll Data
Payroll records hold Social Security numbers, bank accounts, and pay details for everyone on your team. [Confirm with Chavelt: We store payroll data securely, limit access to the staff handling your account, and never sell your information.] Federal rules require tax and payroll professionals to keep a written plan for protecting client data.
Businesses We Work With
Payroll needs depend on the kind of business you run. We work with:
- Restaurants and cafes: tip reporting and overtime tracking for the new W-2 codes
- Construction and trades: a mix of employees and subcontractors, plus workers’ compensation coordination
- Medical and dental offices: salaried and hourly staff with benefit deductions
- Salons and barbershops: tipped employees and booth renters who may be contractors
- Retail stores: part-time and seasonal staff with changing hours
- Professional offices: small salaried teams, including S corporation owners who pay themselves
Why Choose Newburst Financial for Payroll Services in Valley Stream
- Tri-state payroll in one place: We handle employees in New York, New Jersey, and Connecticut under one account.
- Payroll, taxes, and insurance together: Your payroll, business taxes, and workers’ compensation can all be reviewed by one team.
- Owner-led service: Chavelt Saint Charles, owner of Newburst Financial, works directly with business clients.
- Built for small businesses: Our service fits teams of one to a few dozen employees, including owners paying themselves through payroll.
Payroll Services Across New York, New Jersey, and Connecticut
Our office is in Valley Stream, NY (ZIP codes 11580 and 11581). We provide payroll services to businesses across the tri-state area.
New York
Nassau County: Valley Stream, Elmont, Franklin Square, Lynbrook, Malverne, West Hempstead, Hempstead, Rockville Centre, Oceanside, Baldwin, Freeport, Merrick, Garden City, Lawrence, Inwood, Cedarhurst, Woodmere, and Hewlett.
Suffolk County: Babylon, Lindenhurst, Huntington, Islip, Bay Shore, and Smithtown.
Queens: Rosedale, Laurelton, Springfield Gardens, and Cambria Heights.
New Jersey
Bergen County: Hackensack, Fort Lee, Englewood, Paramus, and Teaneck.
Hudson County: Jersey City, Hoboken, Union City, and Bayonne.
Essex County: Newark, Montclair, East Orange, and Livingston.
Union County: Elizabeth, Union, Linden, and Westfield.
Connecticut
Fairfield County: Stamford, Greenwich, Norwalk, Bridgeport, and Danbury.
New Haven County: New Haven, Milford, and Hamden.
Hartford County: Hartford, West Hartford, and Glastonbury.
If your business is not in one of these towns, call (888) 882-1582 and we will confirm whether we can run your payroll.
What We Offer
Insurance & Tax Services
Insurance & Tax Services
Under One Roof
From insurance to tax services, Newburst Financial has you covered. Proudly serving New York, New Jersey and Connecticut
"I have rental properties in Nassau County and Newburst handles my landlord insurance AND my Schedule E tax filing. Having one team that understands both the insurance and the tax side has saved me time and money every year."
"I was nervous about my ITIN tax situation and they made the whole process clear and stress-free. They helped me get my ITIN renewed and filed my taxes the same appointment. Se habla español is a huge plus for our community in Hempstead."
"Best decision I made for my restaurant. They handle my bookkeeping, payroll, and business taxes all in one place. I used to scramble every April — now everything is organized year-round. I recommend Newburst to every small business owner I know."
"They saved me over $800 on my home and auto insurance bundle by shopping 20+ carriers. The whole process took one call. I've already referred four of my neighbors in Elmont. Professional, fast, and genuinely looking out for you."
"Newburst Financial has handled my family's taxes and auto insurance for three years. The bilingual service made everything easy for my parents who speak Spanish. We never feel rushed and they always find deductions our previous preparer missed."
Find answers to common questions about personal tax preparation service
FAQs on Personal Tax Preparation Services
How much do payroll services cost?
The cost depends on how many employees you have, how often you pay them, and how many states you file in. A small team paid biweekly in one state costs less than a larger team across several states. Ask for a quote when you call.
What is the best payroll service for a small business near Valley Stream, NY?
The right payroll service depends on your business. Look for a provider that files in every state where your employees work, makes tax deposits on your behalf, and answers questions directly. Newburst Financial provides payroll for small businesses in New York, New Jersey, and Connecticut and can also review your workers’ compensation coverage.
Can I switch payroll providers in the middle of the year?
Yes. We need your year-to-date payroll records from your current provider so that tax limits and W-2 totals stay correct. Switching at the start of a new quarter keeps the records simplest, but you can switch at any time.
How do I know if a worker is an employee or an independent contractor?
It depends on how much control you have over the work. If you set the hours, provide the tools, and direct how the job is done, the worker is usually an employee. New York and New Jersey apply strict tests, and New Jersey uses a three-part “ABC” test for unemployment purposes. Misclassifying workers can lead to back taxes and penalties, so we review your setup before you hire.
What happens if a payroll tax deposit is late?
The IRS charges a failure-to-deposit penalty that ranges from 2% to 15% of the late amount, depending on how late it is. If withheld taxes go unpaid, owners and others responsible for payroll can be held personally liable. Making deposits on schedule is a core part of our service.
Can you handle employees who live in a different state from my business?
Yes. We withhold and file for the states where your employees live and work across New York, New Jersey, and Connecticut. Remote employees of a New York business may still be subject to New York withholding, so we review each employee’s work arrangement.