FOR IMMEDIATE RELEASE

Redlig Financial Services Announces the Launch of Its New Payroll Processing System specifically designed for Households and Small Businesses

 White Plains, NY, June 6, 2006 - Redlig Financial Services, a financial services company providing financial assistance to small businesses and individuals announced the launch of our newly branded electronic, web based payroll system specially designed for small businesses and individual households. 

The Federal Government requires household employers to file tax returns for anyone earning more than $1,400 (the 2005 threshold) annually. Yet in 2003, the IRS collected only about 270,000 of the required Schedule H's, a compliance rate of less than 13 percent.

So why are 87% of qualified households not filing these forms?   Our research has provided a very simple answer.  The time burden required to adhere to the laws and filing requirements create an onerous challenge to people who are already pressed for time.  Recent statistics estimate that it takes 60 hours a year to do the books required for employing household help legally. Many would rather hand out cash once a week.

Our solution allows the payroll process to be completely electronic.  This includes depositing of the paycheck directly into the employee’s bank account, electronic pay stubs available for view at anytime, from anywhere, and electronic filing of all federal and state tax returns on-time, avoiding tax penalties.  All this can be done in a simple and efficient manner, requiring no more than 1 hour time at any given month. 

For small businesses, we compliment this service with seamless integration to their systems.  The payroll can be seamlessly integrated with QuickBooks, Peachtree, and ATX, and Microsoft Money from Day 1. 

Regardless of who handles payroll, there’s nothing better than knowing that payroll is performed consistently, accurately, and timely.

An on-line demo has been developed on our website to demonstrate the value of this exciting offering.  To find out more information, please visit www.redlig.com/payroll.shtml

About Redlig Financial Services

Redlig Financial Services caters to the needs of clients throughout the Westchester and Fairfield county area, in addition to New York City, Long Island and the Bronx.  With Offices in White Plains and Syosset, NY, we specialize in the field of Financial Records Management for small businesses and Daily Money Management for individuals and families.

Financial records management involves keeping track of a company’s finances for purposes of analysis, tax filings and reporting purposes. 

Daily Money Management involves outsourcing and managing the personal finance function for people (elderly and busy families) who either can’t or don’t want to spend time on their own finances. 

Over time, a mature adult physically declines in mental competency and abilities and physical capabilities (dexterity and/or mobility) and becomes incapable to deal with their day to day financial commitments, which includes bill paying and banking needs.  Others suffer from memory loss, confusion and disorientation which often lead to financial self-neglect and potential eviction.  These adults are also more easily susceptible to financial exploitation and identity theft.

For everyone else, clearly, the situation is different until you start looking at the common denominator.  You have less time than ever before.  Compliment this with the fact that you are not good at or not devoting enough time to your finances you suddenly realize that you are exposing yourself to problems and risk, which Redlig Financial Services is happy to fill.

Additional information on Redlig Financial Services can be found on the internet at www.redlig.com. For further information, please contact Evan Gilder at 914-946-7725 or egilder@redlig.com

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