Payroll and tax administration services are one of the exhaustive services offered by PEOs (professional employer organizations) to client businesses. PEOs offer comprehensive human resource management solutions. The other solutions offered as part of human resource management include human resources administration, employee benefits administration, workers’ compensation, risk management and support, regulatory and government compliance, and recruitment and selection services.
A Range of Payroll and Tax Administration Solutions
As part of payroll and tax administration services, the solutions offered generally include payroll delivery, filing of quarterly reports (FICA, FUTA, SUTA), new hire reporting, federal payroll summaries, flexible spending accounts, job cost accounting reports, cost allocation reports, vacation and sick time accruals, paid leave program management, wage/hour law compliance, payroll deductions, W-2 production and delivery, and department summary.
Comprehensive, Cost-effective Services for All Types of Organizations
These services are comprehensive, flexible and cost-effective. PEOs are extremely adaptive to the needs of client companies, and are therefore feasible for organizations of all sizes, be they 25-employee strong organizations or Fortune 500 concerns. Companies also have the choice to either hand over all their HR outsourcing responsibilities to the expert hands of a PEO or outsource one or two of the responsibilities.
By welcoming a PEO, companies enter a highly advantageous partnership with an organization consisting of experts in the various disciplines that make up human resource management. With the workforce taken care of, client companies can count on their full potential and focus on their core tasks, leading to streamlined business performance and the vital edge over the competition. Outsourcing payroll and tax administration services is the right way forward for businesses.