5 Ways a PEO Can Make This Tax Season Your Easiest One Ever

tax seasonTax season: two words that can strike trepidation into even the most confidant business owners. Deadlines, forms, and compliance regulations can turn the months of March and April into a frenzy of paperwork and time-consuming details.

One of the benefits of partnering with a PEO is that they assume the responsibility for tax preparation and filing. Creating a stress-free tax season starts long before April 15, and your PEO will make it possible. Here’s how.

  1. Maintain Compliance—Payroll tax errors can have serious consequences. Your PEO will ensure that you remain compliant with all current tax regulations and deadlines in order to protect you and your employees from fines and penalties.

  2. Manage Regulations Across Multiple States—If your business operates in multiple states, tax regulations will vary based on location. Your PEO will ensure that each branch of your business meets the state-mandated tax requirements and will also keep you apprised of any changes to the tax code for every state in which you currently operate.

  3. Handle Employee Forms and Changes—Your PEO will keep track of employee status changes and monitor which forms need to be prepared for each employee. When it’s time to send out W-2s and 1099s, the PEO will prepare and distribute them for you, preventing missed deadlines or errors.

  4. Process and File Taxes—Processing and filing taxes for your business is a time-consuming process that often requires expert advice and management. Your PEO will handle this process for you, making sure you have met all deadlines, submitted the correct forms, and documented all relevant information.

  5. Keep Your Business Running Smoothly—Your PEO will remove the burden of tax preparation and filing from you as the business owner, giving you the freedom to focus on business critical operations. The PEO will gather information, monitor regulations, manage relevant changes, process forms and paperwork, interact with employees, and file taxes so that you can keep your business running at full productivity.

Tax season is one of the most stressful times of year for many businesses, but it doesn’t have to be that way. Your PEO can help you navigate the stresses and pitfalls of tax season with confidence, helping you avoid needless fines and penalties due to errors in the process.

If you’re ready for a partnership that will give you the administrative assistance you need to keep your business running smoothly, our unique PEO Quick Search Tool can help you find the right fit.