Blog

Is a PEO Right For You?: Payroll Edition

by Pam RamacciatoApril 21, 2015 8:00 AM

It’s always good to research your options before making a business decision. The questions may differ depending on the industry your company is in, but payroll plays a factor in every business, and it sure isn’t cheap. 

Statistics show that it costs small- to mid-size companies an average of $2,000 per employee per year to handle payroll. Even if you’re a small- or mid-size company, a Professional Employer Organization like Group Management Services may be a good fit to help streamline your payroll needs.

Of course, working with a PEO is a big decision, so you’ll want to find out what they can offer your business. Here are some ways to find out if a PEO is good fit to handle your payroll.

Payroll services from a professional employment organization.

More...

Tags: , ,

Payroll

How PEOs Improve Cashflow: Part 3

by Tim AustinFebruary 24, 2015 8:00 AM

It’s expensive to pay employees, and I’m not just talking about salaries and benefits. 

The payroll process is pricier than many business owners realize. It costs an average of $2,000 per employee per year for a small or mid-sized company to handle payroll. In addition, up to 40 percent of businesses in the United States are given an average of $845 in IRS penalties each year.

These costs add up and can really hurt a company’s cashflow. We’ve already discussed how loss prevention and cost containment can help your business, but a professional employer organization (PEO) can also save you money and time by handling your payroll.

Payroll costs you more than just your employees wages.

More...

Tags: , ,

Human Resources | Payroll

Fatter Paychecks!

by Andrew SzczesniakSeptember 18, 2013 10:02 AM

Effective September 1, new withholding tables will result in increased take-home pay for Ohio workers.  Governor Kasich’s plan will lower the income tax rates 10% over the next three years with a majority of the decrease coming in 2013. In addition to the lower payroll withholding rates, small businesses will see tax savings of up to 50%.  And while that’s great for payroll and businesses, Ohio will also see an increase in sales tax by .25%.   

A brief description of the withholding rate change was released by Tax Commissioner Joe Testa on August 26th, and can be found at: http://www.tax.ohio.gov/Portals/0/communications/news_releases/NR_TaxWithholdingCut.pdf.

The Department of taxation released an update of the sales rates on their website at:  http://www.tax.ohio.gov/sales_and_use/rate_changes.aspx.

Have questions? Leave a comment below or contact us at 330-659-0100!

Tags: , , ,

Payroll

Back to Top
Contact Us