Using a PEO means your business doesn’t have to do everything on its own.
Think about it — from establishing a vision for growth to completing the day-to-day tasks and product or service fulfillment to managing your staff, do you have time to get caught up in the details of payroll and tax filing? It will only slow you down, and that is why businesses that want to boost productivity while saving on employee costs find a great advantage working with a PEO, especially when it comes to the changing tax laws.
Outsourced HR Team Informed of All New Laws
First off, what does a PEO do?
They take over all human resources responsibilities. This is helpful for businesses that want to grow but don’t have the money (or choose not to spend the money) to bring full-time HR employees in-house. Even if your company hired an HR professional, it’s unlikely they would be an expert in all things under the human resources umbrella.
For example, should you really expect your human resources department to stay on top of all day-to-day tasks and be able to accurately interpret how changing tax laws affect your company?
When you trust a PEO, you get an expert on new tax laws at no extra cost. That is the PEO’s role — provide accurate, real-time explanations of how laws should alter your company’s method of doing business.
Your PEO Files Employee Taxes
If you’ve never considered a PEO for your business before, the nightmare of tax time might change your mind. Since a PEO co-employs your staff, they are responsible for filing and issuing all tax forms. That means you don’t have to track down W2s — your PEO handles it. You still have complete control and direction over your employees’ daily tasks, but your PEO takes care of the benefits administration portion.
Since your employees are grouped together with a number of other companies’ employees in order to gain a better rate for insurance, you can afford to offer top talent complete, competitive packages that rival large corporations, but you don’t have to handle the paperwork.
Why it’s Important to Choose the Right One
The business-to-PEO relationship is an important one. First, you should be confident in your PEO’s longevity and reputation. You want to establish a profitable company, and your PEO should have the same objective, both for their internal team and for yours. Second, your PEO should be focused on streamlining operations to help you reach your goals.
At WTA, Inc., we prioritize our clients’ success. From handling tax filings to providing insight on new tax laws and how they will affect you, you can trust us for up-to-date, accurate information. Call today for a quote on our PEO services for your business.