You’re well aware that managing your business taxes is a hassle. But it’s more than just an inconvenience. It’s a risk to your business.
What Are My Payroll Tax Risks?
There are two main risks associated with business taxes:
It is estimated that 40% of small businesses pay tax fines of more than $800 each year. Even scarier is the fact that you may be personally liable for payroll tax penalties.
You spend a lot of time cutting checks, filling out forms, and keeping up with regulations. In other words, you spend a lot of time focusing on something that doesn’t grow your business.
If you aren’t confident that you’re protecting yourself from these risks, or don’t know where to begin, it’s time to partner with a professional employer organization (PEO).
How Can a PEO Help Me with Payroll Tax Management Services?
Even if you already have an accountant, outsourcing business tax management to a PEO like GMS offers many advantages.
Specifically, we will:
- Reduce tax liabilities and responsibilities
- Manage tax records
- Issue and make payment on Forms 940 and 941, SUTA, and FUTA
- Issue W-2s and W-3s
- File state and federal tax
Contact us today at 330-659-0100 or visit our FAQ page to learn more about how GMS can reduce your payroll tax risks, save you time and money, and help you grow your business.