Well, the 2020 tax season is upon us. Are you ready for it?

If you’re like many business owners, you may find yourself scrambling to get everything done before April 15th. Business taxes are especially challenging for smaller companies that don’t have the time or expertise to manage the tax process.

Wouldn’t it be wonderful if there was a way to make business taxes easier? There is!

A PEO can benefit your company in so many ways. But did you know it can be especially helpful during tax season?

Here are 4 ways a PEO can make business taxes easier for you.

1. Preparing & Filing Taxes

When you partner with a PEO, they have all the information they need to process your business taxes. They’ll ensure you have the correct forms filled out and filed before the appropriate deadline.

A PEO will process all your W-2s and W-3s for the year. They’ll manage your company’s 940 and 941 filings and federal withholdings. They’ll also ensure you’re up-to-date with any state withholdings and unemployment taxes.

2. Ensures Compliance

Making an error on your tax returns could have serious consequences for your business. A PEO will make sure you’re compliant with all required filing deadlines and regulations.

This will protect you and your employees from those dreaded penalties and other fines.

3. Keeps Track of State Regulations

What’s legally required in one state may be different in the next. If your business operates in multiple states, do you have the time to keep up with tax regulations in each state?

A PEO is your lifesaver in this scenario. Payroll taxes and other legalities (such as hiring remote workers) can vary from state to state and even county to county. Your PEO will be up-to-date on all the latest laws in each state and ensure your business is in full compliance.

4. Manages & Updates Employee Paperwork

Can you keep track of your employees’ personal lives? What happens if someone gets married, gets divorced, or has a new child?

When you use a PEO, they’ll keep track of those important life changes for you. They’ll issue new W-2s or 1099 forms that reflect the changes in your employees’ tax status. This ensures there are no errors or surprises at tax time.

Ready to Make Business Taxes Easier?

These are just a few of the many ways that PEOs make business taxes easier for people just like you.

Most of all, they care for these time-consuming (but necessary) duties so you don’t have to. This frees you to focus on your primary job — running your business!

Would you like to learn more about PEO services and how they can benefit your business? Click here to get in touch with us today!