What’s it Really Worth? Save Yourself the Headache
Many business owners and small businesses consider becoming incorporated. Whether choosing to be a limited liability corporation, an S corporation, or a C corporation, many are opting to go this route in order to avoid the risks of personal liability. Unfortunately, personal liability is often unavoidable when it comes to circumstances relating to payroll taxes.
We take on and assume this liability for you!
As an employer you are required to withhold payroll taxes from all your wage-earning employees. This includes federal, state and local income tax as well as social security and Medicare tax. On top of this, you are required to accurately report all tax withholdings and pay them to the Internal Revenue Service (IRS) on time. The employee taxes withheld by your company are, in essence, trust fund taxes because they are being held in trust until the time comes to transfer them to the appropriate agency. If your company fails for whatever reason to pay these taxes this can be a very serious issue, bringing with it severe penalties.
We assume liability for your tax obligations:
- Federal / IRS
– State income tax
– Social Security
– Local taxes
– Medicare tax
We Make Tax Administration Our Business
To report and deposit payroll taxes to the appropriate agency accurately and timely is a vital part of your business. As we iterated above, being inaccurate or late in doing so will likely result in penalties and other repercussions. We take this liability off your shoulders!
Payroll taxes and there requirements can be quite complex and intimidating to any company, especially a newly established small business dealing with a myriad of other potential problems. Going with HR Support allows your company to breathe a sigh of relief knowing that this complicated process is taken care of for you.
Click here to contact us and begin a free analysis. We will demonstrate exactly how we can streamline your business processes for more effective management of resources, time and energy, while providing effective business legal support, outsourced employee benefits, and increased productivity.