Family Office Payroll Service
tailored to the needs of family office payroll and employee management
A Comprehensive Employment Solution for Family Offices
Family offices face several challenges when managing household payroll, employment taxes, workplace insurance, labor compliance, and employee benefits on behalf of their clients.
As family offices navigate a complex landscape of federal, state, and local employment laws, tax regulations, and reporting requirements, even unintentional mistakes can result in significant financial penalties and potential legal issues for high-net-worth families.
Not to mention the time-consuming administrative burden of managing household employment, which can distract from core financial management services. It may also require the need to hire costly specialized staff or consultants to administer these tasks in-house.
A Partner You Can Trust
GTM has been a leader in the household employment industry for more than 30 years and partners with hundreds of family offices, wealth managers, and financial advisors to provide their high-net-worth clients with unmatched support from certified payroll professionals, employment tax experts, licensed insurance brokers, and certified HR advisors.
Our unique Family Office Administrative Services Offering (ASO) integrates payroll, taxes, human resources, employee benefits, compliance, and insurance into one comprehensive solution.
With the experts at GTM by your side, you’ll simplify payroll, tax, and benefits administration; maximize your protection from risk; and create a productive workplace with engaged employees that can reduce turnover.
What’s Included
This concierge service includes a wide range of services and support for your payroll, tax, and employee offerings.
Payroll & Tax Processing
Automated payroll processing; free direct deposit; and on-time, every-time tax filings.
HR Advisement
A household-focused, certified HR advisor will assist with onboarding, employee relations, and more.
Labor Compliance
Receive critical guidance on tax, wage, and labor laws, including paid leave and domestic worker protection.
Workers’ Compensation Insurance
We have you covered from obtaining your policy to managing audits and invoices.
Workplace Insurances
Comprehensive coverage, including homeowners, employee theft, EPLI, and more.
Employee Benefits
Customized benefits packages with streamlined, paperless administration
Key Benefits of GTM’s ASO Solution
Our expertise for your protection
Our expertise in household payroll and tax compliance helps ensure accurate calculations, timely filings, and strict adherence to all regulatory standards, reducing the risk of penalties and protecting families from legal exposure.
Relief from administrative burdens
We’ll handle all aspects of payroll, human resources, insurance, and benefits administration, allowing you to focus on your primary services. Our streamlined processes reduce administrative overhead while ensuring families’ obligations are met.
Strict privacy and security measures built-in
Family offices must maintain strict confidentiality and secure sensitive personal and financial information. Our data management practices and systems meet stringent security and privacy standards, safeguarding clients’ sensitive information and maintaining the highest levels of confidentiality.
Engaged employees for a productive workplace
A lack of human resources support and competitive benefits for household employees can lead to high turnover and staff dissatisfaction. With GTM as your household HR team, we can help you engage employees, retain staff, and create a competitive benefits package, including health insurance and retirement plans.
Free Consultation
Take the next step towards seamless family office payroll management by scheduling a consultation with Michael Maddalone.
Michael can tell you how our concierge solution can simplify your payroll, tax, and HR situation.
Contact Michael to explore tailored solutions that meet your unique needs.
Call Michael at (518) 881-0225
Michael Maddalone
Vice President, Sales
Why GTM?
One-stop Shop
GTM handles all your payroll, tax, workers’ compensation insurance, and employee benefit needs under one roof.
Team of Experts
Your account is backed by a team of certified payroll and HR professionals, licensed insurance brokers, and household employment tax experts.
Ecstatic Clients
With the best reviews in the business, clients love the services and support from a firm that has served tens of thousands of families.
Data Security
GTM adheres to the highest data security standards to ensure your information remains confidential.
Reviews from Real Clients of our Nanny Payroll and Tax Services
Frequently Asked Questions
Explore answers to the most common questions family offices have about managing their responsibilities effectively.
How do you handle payroll, tax withholding, and filings across multiple states (or municipalities) when our properties and employees are in different locations?
Answer – Because a family office often supports properties and employees in multiple locations, it’s critical that your payroll provider can manage multi-state tax withholding, unemployment insurance, disability insurance, local wage ordinances, and filings (e.g. state income tax, state unemployment, city/municipal requirements). Your payroll service must also stay updated with changes in each jurisdiction’s tax, wage, and labor laws, and ideally provide human resources and insurance support to help ensure compliance.
How is confidential data (personal, financial, HR) protected? What security and privacy measures are in place?
Answer – Household employment data includes very sensitive information about the family, payroll, benefits, and even personal employee information. Ensure your payroll provider has robust encryption (in transit and at rest), strong role-based access controls, audit logs, regular security reviews, data segregation between different family clients, and compliance with relevant privacy laws. Your vendor should also have disaster recovery and business continuity plans in place.
How flexible is the service in handling non-standard compensation structures, benefits, or unique employee arrangements (e.g. part-time, live-in staff, perks, in-kind benefits)?
Answer – Families often have complex work arrangements as some staff may live in, some may receive housing, vehicles, expense reimbursements, bonuses, or noncash perks. Your payroll provider must be able to accommodate such irregular benefit types, pro rata computations, tax treatment of in-kind benefits, fringe benefit reporting, retroactive adjustments, and custom pay policies.
You will also pay FUTA (federal unemployment tax), which is six percent of wages up to $7,000 in earnings as well as state unemployment taxes, which vary by state. Your employee is not responsible for unemployment taxes.
What is your approach to employee compliance, HR advisory, and change management (wage laws, paid leave, domestic worker protections, audits)?
Answer – Payroll is only one piece of the compliance puzzle. Ensuring that employment practices remain compliant with wage and hour rules, paid family and sick leave mandates, domestic worker protections, worker classification, and proper procedures in hiring and termination is equally critical. Your payroll provider should provide an employment consulting service that manages payroll and tax updates based on legal changes, provides employee handbooks and compliance audits, supports worker relations, mediates disputes, and actively coordinates with any internal legal or HR teams at your family office.
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