On Dec. 22, Gov. John Kasich signed legislation that clarified the 2013 small business tax statute, assuring that Sub S Corps adopting the PEO model will enjoy the same tax savings as all other Ohio small businesses. GMS took a leadership position in the industry that led to this legislative victory.
In 2013, Ohio business owners became eligible for small business deductions, reducing tax rates down to three percent. It wasn't until August 2016 that a client's tax practitioner noticed the issue on the Ohio Department of Taxation website containing instructions for the small business income deduction. FAQ No. 28 said that Sub S owner's wages paid by a PEO is not subject to the deduction.
The client contacted their Client Services Manager, who in turn contacted GMS's Chief Financial Officer, Mark Watkins. Watkins realized that this was a major issue for all PEO clients who are Sub S Corps in the state.
Group Management Services announced today that they have been named a Certified Professional Employer Organization by the United States Internal Revenue Service.
The designation was created as a provision of the Small Business Efficiency Act in 2014. This makes the CPEO solely responsible for payroll taxes and penalties and assures clients that they are partnering with a financially responsible and stable organization.
“We’ve completed this rigorous certification process with in depth financial reviews and audits of our business processes as well a thorough background check of our upper management,” said Mike Kahoe, President of GMS. “This shows our customers and prospects that the IRS is holding us to a certain standard, which helps legitimize our growing industry.”
GMS, a Professional Employer Organization headquartered in Richfield, Ohio, announced today that 20-year software and technology veteran Christian Tracey has joined the company as Chief Technology Officer.
Tracey will play a key role in crafting GMS’ go-to market technology strategy, as well as leading the internal IT function, as the company embarks on the next phase of growth.
GMS’ Stacey Larotonda Honored as a Patriotic Employer by the Employer Support of the Guard and ReserveJune 6, 2017 8:00 AM
Group Management Services was recently honored as a Patriotic Employer through the Employer Support of the Guard and Reserve. Stacey Larotonda (VP Client Services) was nominated by GMS Account Manager, Lauren Handley, Petty Officer First Class in the Navy (E-6), who is currently serving an 8-month tour in Afghanistan.
Retired USAF Lieutenant, Colonel Chaker Fadel, serves as the Employer Outreach Coordinator for the ESGR. Fadel presented Larotonda with the award on April, 21 2017, which is given to an employer who has shown exceptional support of The National Guard and Reserves.
Creating a startup venture is no easy task. Startups come in all shapes, sizes, and industries. People often think of startups as simply tech-oriented companies, but that is not always the case. Neil Blumenthal, cofounder and co-CEO of Warby Parker summarizes it saying, “A startup is a company working to solve a problem where the solution is not obvious and success is not guaranteed.”
As Americans, the freedoms we enjoy every day are largely thanks to those that serve and protect our country. Unfortunately, when many veterans come back from serving, the transition to civilian life is not an easy one.
According to the Department of Labor, the veteran unemployment rate in this country is 4.3 percent. The U.S. Department of Veteran Affairs goes on to state that veterans make up 11 percent of the adult homeless population in this country.
Group Management Services President Mike Kahoe recently made an appearance on The Steve Harvey Show’s Veteran’s Day Special. The show featured Ashley, a 30-year-old Navy veteran who was honorably discharged a year prior. She had a degree in psychology and a passion for helping others in her position with the hopes of a career in Human Resources. She was struggling to find work until Mike stepped in and offered her a position with Group Management Services.
The recent election marked the end of a long, grueling, and divisive campaign season, and employers are now faced with the task of uniting their workforce back towards their common goal. Regardless of your personnel, everyone’s political beliefs are not always going to be the same.
In a 2016 study by the Pew Research Center, “More than half of Democrats (55%) say the Republican Party makes them “afraid,” while 49% of Republicans say the same about the Democratic Party.”
As Group Management Services President, Mike Kahoe stated in a recent Wall Street Journal article on the subject of his largely conservative group, “They’re not doing obnoxious high-fives” in regards to the Trump victory.
As a Professional Employer Organization with a focus on Human Resources, it was evident that employees on both sides kept things respectful throughout the election process. This is not always the case at other businesses, so some employers take actions to avoid any issues.
Today, GMS celebrates a huge milestone with the signing of our 1,000th client.
When GMS was started, Bill Clinton was in office, a gallon of gas cost $1.22 and Michael Jordan had won his fourth NBA title. Twenty years later, in 2016, we have another Clinton running for office, gas prices have doubled and the Cavs are the reigning champs. A lot can change in 20 years, and a lot has changed at GMS.
In 1996, Mike Kahoe started GMS as a one-man show. Prior to that, he had worked for a temp agency for construction workers. Kahoe began to notice a trend in companies relying on a workforce made up of temps alone to avoid having to deal with workers’ comp, payroll and benefits. Not being familiar with the Professional Employer Organization industry, he floated the idea to start his own company to handle these functions of a small business.
History behind the day: When the Ms. Foundation for Women started “Take Our Daughters to Work Day” in 1993, the idea was to help boost girls' confidence and to link education to work opportunities.
The day is now referenced as “bring your kids to work day” Currently, the event is estimated that more than 37 million parents participate in this event.
On Monday June 15th, GMS conducted “Bring your kids to work Day”
Our Goal: GMS employees’ children would get a better understanding of what we do during the day. It was important for us that our children were able to see us as something other than the cook, the coach, the maid, or the chauffeur driver. If we had meetings, webinars, or conference calls, our children would be by our side for the day. The more they saw, the more they would learn!
GMS started off the day with the kids attending The GMS sales meeting even if their parents were not in Sales.
Here are some activities that we conducted:
- Kids wrote three lines as to what they learned for the day
- Pizza was brought in for lunch
- A scavenger hunt was conducted to learn about our different departments
- Everyone was shown an end of the day video
Below are some of the things the kids learned:
- My mom works on the phone a lot and needs it to be quiet
- My dad does other company’s taxes and I learned how he sends out local taxes
- They use a lot of stamps, which seems strange with the internet
- My dad drives a lot – GMS believes in face to face meetings
- He makes a lot of phone calls to people that don’t want to talk to him (I guess this child followed a GMS Sales Professional)
- My dad fixes other people’s problems
- My mom helps other business do better
- My mommy has a lot of meetings
- My mom does workers comp stuff
- My mom and her company helps business owners
- The Government takes about 40% of your paycheck
- My mom and all GMS employees prepare before a meeting
- My mom’s company makes a business owner’s life a lot easier (one of my favorite)
- My dad gets to drive to different places
- They make a lot of friends in the workplace (another favorite)
- My dad has fun with what he does (another favorite)
- My dad’s company helps injured workers get back to work
- My dad thinks all small business owners should listen to what GMS does
- Some companies offer a 401K and some do not
GMS concluded the day with the children interviewing their parents on what they were doing when they were their age and a session on “lifetime of confidence.”
All in all, I think the day was a success.
GMS… where we are all about making your life Simpler… Safer… Stronger
We're proud to announce that GMS was listed #29 in the inaugural Crain's Cleveland Business FAST 50 program!
FAST 50 recognizes Northeast Ohio businesses that:
- have achieved the most substantial margins of revenue growth between 2009 and 2013.
- are at least 5 years old.
- have accrued at least $5 million in revenue at the end of 2013.
Read more about the FAST 50 program and see photos from the event on the Crain's Cleveland Business website.