Posts Tagged ‘Compliance’

Restaurants: Why You Need a PEO!

November 23rd, 2015


Dining Out: It’s a major staple of the American culture. The sheer variety of food and atmosphere is astounding! In fact, according to the Bureau of Labor Statistics (BLS), there are over 600,000 privately owned restaurants nationwide.

Just like any other successful business or organization, the backbone of any good restaurant, besides the food of course, is the people that keep the customers coming back for more! The BLS reports that nearly 7 MILLION people work in the restaurant industry in various capacities! How many of those 7 million individuals call your location their workplace?

Perhaps most importantly, how – on top of all of the additional responsibilities you have as a restaurant owner – do you make sure you and your employees are protected in case of injury? How do you make sure your employees are paid what they’re due, while making sure the appropriate taxes and deductions are made?

The easy answer to all of those questions is: PEO.
The specific answer to all of those questions is: PEO Advantage.

Professional Employer Organizations (PEOs) have long been supporting the restaurant industry by taking on numerous back-office responsibilities like payroll, HR, and benefits administration. In addition to these back-office support functions, PEOs can provide workers compensation coverage to your employees, often at a discount to you, the business owner.

Workers compensation is a complex environment and it is often abused by employees looking to make a quick buck at the expense of their employers. With a PEO at your side, you can leverage their extensive team of workers comp professionals and experience to ensure your employees and interests are protected, all while receiving risk management coaching and OSHA training to prevent future incidents.

This is where PEO Advantage comes in!

With nearly 1,000 PEOs across the country, it can be overwhelming to simply punch “PEO” into Google and pick the one that’s right for you. We’ve narrowed that field of PEOs down to the cream of the crop, the top 10% of providers that met our industry standards. We know which PEOs specialize in your industry and can provide you the best personalized service.
We do all of the research, negotiating, and documentation for you so you can do what you do best: Run a high quality restaurant that keeps the hungry masses satisfied!

The Fiscal Cliff & 2013 Payroll Tax Compliance

January 16th, 2013

Lately the Fiscal Cliff is all we’ve heard about in the news. Families and individuals have anxiously awaited the decisions that would directly impact their taxes. But for HR professionals and employers, the uncertainties surrounding payroll tax changes throughout 2013 present an even larger challenge: COMPLIANCE.

The American Taxpayer Relief Act of 2012 was passed just a few weeks ago on January 1, 2013 and contains a number of provisions that are important to business owners and/or anyone in charge of payroll.

Did you know that the legislation no longer includes an extension of the 2 percent payroll tax cut of the Social Security (FICA) employee tax  and that the maximum taxable wage was increased from $110,100 in 2012 to $113,700 in 2013? And that the legislation reverses the $600 deduction in the $3,000 credit for child and dependent care that was originally set to take effect on Jan. 1, 2013?

Additionally, certain components of the legislation have been extended through 2013: the legislation extends federal emergency unemployment benefits for one year, and also reinstates and extends the Work Opportunity Tax Credit through 2013.

Are you keeping up? We know it’s difficult! There’s also fine print surrounding education assistance, tax exclusions for transit and vanpool benefits, 401(k)s, 403(b)s and similar defined contribution retirement plans, and more!

Things are always changing and staying up to date on compliance is a tedious full time job. Clients that work with a Professional Employer Organization (PEO)can expect the following certainties when it comes to payroll services:

  • Professional Employer Organizations manage and deliver payroll to your employees, in addition to accounting for the necessary Federal, State and Local taxes.
  • PEOs also manage Social Security, Medicare, Federal Unemployment Tax (FUTA), State Unemployment Insurance (SUI) and any other taxes that are applicable.
  • PEOs help decrease a client’s liability through the co-employment model of the PEO relationship.
  • By outsourcing payroll and other administrative tasks to a PEO, your business may be able to limit the number of employees within each office location, further reducing labor costs.

And, PEO clients get “big company perks.” Many PEOs have invested hundreds of thousands of dollars into their Payroll and Human Resource Information Systems (HRIS). Streamlined processes… and most importantly COMPLIANCE!

Do you want peace of mind surrounding compliance in the upcoming year?

Contact PEO Advantage today to learn more.