I took over a PHP site for a client that needs to payout out their contractors on a biweekly basis and I was hoping maybe someone has suggestions on payment/payroll services that have good PHP libraries/REST API.
I know PayPal and Stripe have this type of payout functionality (the startup I'm working with is currently configured to use PayPal), but there are some tax reporting concerns that I'm not completely sure about.
PayPal and Stipe don't issue 1099-K forms to the contractors unless there is a $20,000 gross amount paid out in a single year (I'm assuming that is gross amount for all contractors, but haven't been able to confirm that).
The previous developer created fields to store contractor's SSN data in a plain text MySQL column, so I'm trying to see if a payment service can issue the 1099s so we have no need for the SSN data at all.
A payroll processor sounds like it's probably a better solution for this. Gusto seems like an inexpensive option, but can anyone recommend it from experience or suggest others that would be good for a startup on a small budget?
If so, are there any tips on working with services like this from an API standpoint? We would want to use the earned amount stored in our MySQL database to either issue payouts directly through an API, or less ideally pass those earnings into the payroll system on a certain schedule so that they can handle the payouts.
I'm guessing using a payroll processor for reporting purposes and a separate service like Stripe or PayPal to handle the payment processing isn't an option.
Any insight is appreciated.