What Is A Certified PEO, & Do I Need One?
A certified PEO is a professional employer organization with a rigorous background, financial, and other reporting requirements. The certification will ensure major financial protections and tax benefits to certified PEO clients, which other non-certified PEOs don’t have. Moreover, being certified means a
PEO professional has applied for the IRS certification and after giving all of the information about her financials and another background. And has received the CPEO certification from the IRS.
A CEPO takes all the responsibility related to the payroll and the federal employment tax reporting and payments.
A professional CEPO also pays all the federal employment taxes at prices that it pays on the worksite.
Difference Between A Certified & A Non-Certified PEO?
A certified PEO service professional gives financial peace of mind by minimizing financial liability. However, when working with a non-certified PEO, the IRS can easily go after the customers for the payments and payroll taxes. This further means that if any non-certified PEO doesn’t pay the client’s payroll taxes, the IRS can go after the clients for the taxes. This further imposes a great risk on the clients, who are unaware of the unpaid taxes until they receive any notice or a bill.
Why Should You Choose A CPEO?
Ceos Are Well-Run Organizations
Clients who engage in PEO hr solutions put their complete trust in that organization and are committed to doing the right things. The proof of this lies in the reporting; also, their clients have peace of mind that the CPEO is doing amazing work. Besides, you don’t have to worry about the mishandling of all your employee information and the money.
They Have High Ethical Standards
IRS regular background checks and quarterly financial reporting ensure that the CEOs are always in a good business position. With a certified PEO, you know that the employer taxes are processed on time, and this further minimizes your exposure.
CPEO Offers World-Class Product Offerings
Another reason business partner with the PEO is to get sales economies. Some PEO also offers many health benefits to their employers. So, keep a check if your employer offers retail and entertainment services, online mobile-friendly access to review benefits and offerings, flexible spending programs, and more.
They Prioritize Technology
PEOs have a technology platform that provides necessary features and is easy to use for employees, clients, and managers as well. It becomes easy to access everything online when your PEO has mobile-enabled technology; they are industry leaders and can easily handle your HR benefits and payrolls.
They Are ESAC Accredited
Most PEOs are accredited by the ESAC (Employer Services Assurance Corporation), an independent, non-profitable and financial assurance. An accredit PEO means that they understand the risk of liabilities in a co-employment scenario.
They Protect Their Clients From Risk Management
If you think that risk management is nothing, think it over! As per stats, there are over 3 million fatal workplace incidents, which counts to over 3.5 injured workers out of 100. So, if you are ever injured at the workplace, risk management is important to consider. The risk management will ensure that:
- The injured employee goes to the preferred and trusted provider
- The claim is submitted on the time
- You have legal personal to manage the claims
PEO Can Provide The Retirement Savings
A retirement saving plan will allow employees to put away their money when they are not working. However, choosing health insurance is quite complex and a heavy process. If you are a PEO client, you will get guidance on the options that you offer. But you will also have many options to choose from. Also, you can easily focus on interviewing the top candidates and making the best decisions.
Using a PEO is all about outsourcing the tasks that you have time to complete or expertise to complete. Ideally, people who have expertise can help you manage those tasks with ease. Just keep in mind to choose a PEO carefully. Considering a trusted PEO will help you tackle issues your business is doing with ease.