When you run a small business, you don’t have a lot of time for the extra stuff. Some days, all you can do is to make sure you meet the needs of your customers, let alone do your paperwork on time. This can become a real problem when you’re dealing with important paperwork related to taxes and payroll.
Here at NetPEO, we have made many small businesses’ workdays easier by connecting them to a PEO. This is because a PEO can connect you with a small business payroll provider in Austin to take over these tasks for you. This reduces your stress as a business owner and allows you to focus on what matters most: your business.
How Late Taxes Can Affect Your Business
As a business owner, you are required to pay taxes. But when you’re running a small business, you can get overwhelmed with tasks you have to do. Because of this, you may miss important deadlines for tax paperwork.
And the consequences of forgetting to report your taxes can have significant consequences. In Texas, if your taxes are past due one to 30 days late, you will receive a 5% penalty. While this may not seem like a lot, it can add up if you consistently are late on your taxes because you are so busy with running your business.
This can end up affecting the profitability of your business and negatively impact your employees. This is where one of our PEOs can help. Our pool of experienced PEOs can help file and send your tax paperwork on time so that you can focus on your business goals without having to worry about your taxes.
Payroll and Your PEO: Your New Human Resources Department
When most people think of small businesses, they probably don’t think there’s a need for an HR department. And even if there is a need, finding enough room in their budget or on their property for a proper HR department is challenging.
With a PEO, though, you don’t need either one because a PEO acts as your unseen HR department, functioning off-site to keep your business running smoothly. The same applies to having an Austin, TX, small business payroll company.
It’s unlikely that employees will want to work for a company that keeps making errors on their paychecks. And when employees don’t receive paid time off as they should or when their vacation days aren’t carried over properly, they’re going to be annoyed. And when employees are annoyed, they could start to look for work elsewhere.
You should ask yourself, do you have the time to train a new workforce? Do you have enough padding in your budget for when your new employee makes a mistake that ultimately costs you in profits? If these ideas sound terrifying, you could certainly benefit from keeping your employees happy with the help of a PEO.
How a PEO Can Help You Improve Your Company Culture Through Payroll
By ensuring that employees’ paychecks are handled properly, PEO can improve your company culture. We understand the dozens, if not hundreds, of tasks that come with running a small business. If you are caught up in creating a marketing campaign, and you forget to do payroll for the week, you may rush to do it.
However, by rushing to finish it, you may make errors that result in paying your employees the wrong amount or forgetting to take out taxes. Not getting paid on the designated payday or having errors in a paycheck is sure to frustrate any employee.
By employing one of our PEOs in Austin, you can avoid moments of frustration and cultivate a better work environment. When your employees are paid on time and the correct amount, it can improve and help keep employee retention rates high. They are also more likely to feel valued and maintain a consistent work ethic making it easier for the company to reach its goals.
How a PEO Can Help You as a Businessowner
In some cases, an HR department can be more of a benefit to a small business owner than their employees. For example, if you have two or three people on staff besides yourself, you may not necessarily need an HR department to handle your payroll or other employee-related concerns. However, if you tend to fall behind on paying your taxes, a PEO can help you stay on top of them.
Small businesses that work with PEOs don’t have to worry about state and federal labor laws as much. Their PEO stays on top of all this information for them. Plus, with what you pay your PEO to work for you, you may still save money when you’re not paying those preventable late fees all the time.
Even if you’ve only ever heard of a PEO in name only and have no idea what they do, our pool of PEOs can help you change your life by connecting you with a small business payroll company in Austin. With the help of a PEO, you can start seeing positive changes in your business.
First, we perform a free business analysis for you. Then, we match what you need to one of the many PEOs out there. And if we don’t get it right on the first try, don’t worry. We’ll stick around until we’re sure we’ve connected you to your perfect match
Benefits and Incentives to Hire a PEO
What’s something all employees hate to see taken out of their paychecks? Expensive health insurance. The smaller the business an employee works for, the more they’re going to end up having to pay out of pocket for insurance. When you hire a PEO, we can change that for you and your employees.
A PEO groups together all the companies it works with and submits them as one large group to an insurance company. In return, because the group is larger, the insurance company can provide a lower rate to those employees for what often turns out to be even better insurance. Your employees are thrilled to see less of a deduction in their paychecks and for even better insurance.
Not only that, but if you have any employees who would love to go back to school or who can’t save up for retirement, a PEO can help with that too. Because of the larger group of employees they can submit, a PEO can get things like tuition assistance, and 401(k) added to your benefits package.
Call NetPEO Today, and Find the Right PEO
Your employees will love you for looking out for their wellbeing. You will thank yourself for not having to worry about your taxes anymore. A PEO can do so much for your business and relieve so much stress that you’ll wonder how you ever got by before without an Austin, TX, small business payroll company.
At NetPEO, we love helping our clients form longstanding relationships, and we love seeing small businesses thrive. Call us today for your free analysis or fill out the form on our contact page through our website