No Tax Restarts
No need to wait till next Jan 1st to make changes. No tax restarts are good news for PEO prospective groups. Federal Tax Restarts Are No Longer An Issue The significant added expense of having to pay tax restarts often postponed or ended the PEO conversation for many of our prospective clients. It was an important consideration since companies were not eligible for tax restart credits and the cost of the restarts often diminished the financial value proposition of partnering with a PEO.
Example: A group starting a plan in May would have to pay for annual FICA and FUTA all over again with new PEO. A PEO is considered a different employer group.
Moving forward, there are no federal tax restarts to worry about. FICA and FUTA wage bases will not restart when an employer joins a PEO. Ask us about our Quick Start Program to ensure a smooth start to our personalized PEO model, and offers perks for your staff.
Contact us to learn more about our Quick Start Program on-boarding processs but here are the high points:
- You’ll have access to the best healthcare providers, coupled with the pricing that is offered to much larger companies.
- Your Worker’s Compensation rate may favorably adjust since you will be “adopted” under the PEO and their typically much better rates.
- You’ll have a partner that will help build systems for recruiting, hiring, employee administration and more.
- You’ll also have experts who will work with you to establish and maintain policies and programs, including workplace safety, sexual harassment, diversity and others that are typically required by law.
While this certainly is not going to fix everything in the ever growing PEO industry, it’s a huge leap forward and offers clarity. If you would like to explore how a PEO can help your company, contact us and we will be happy to help you.