Do you speak fluent “ CA Governmentease”? If not, you might want to find a translator.
If you weren’t already reeling from the avalanche of new federal and state government regulations regarding employees, the IRS has given you even more to do this year.
Starting in January 2015, all businesses had to conform to the ACA. This year, all large employers are required to do extra tax reporting forms in order to comply. This is good news for people who enjoy doing paperwork, but where does that leave the rest of us?
Don’t worry, there is a solution.
You can actually hire the best professionals who will share the liability with you for making any mistakes on this program because there are financial and possibly penal consequences for doing this incorrectly. They might not enjoy filling out the paperwork, but they’re really good at it.
If you’d like to look at the actual law regarding employers and their responsibilities, you can find the link right here. It’s 59 pages, so set aside your lunch break.
As equally helpful, the IRS has given you some additional short answer information about how to calculate your penalties for non-compliance. You can find it by clicking here. It’s only 56 questions and answers. It helps to boil down the 900+ page law into something the average person can comprehend.
If that’s still not your speed, here’s an even shorter version.
What this all means is that it is increasingly difficult to run a business and make a profit. When more time, resources, personnel and costly expert advice is necessary each succeeding year, how can you expect to make the same or even more money?
A Professional Employer Organization could take almost all of this off your plate AND share the liability with you for doing it – all at a lower cost than what you can do it yourself. They might even save you money overall in all your employment related costs. Ask us how.