Small and medium sized businesses want to focus on growing their business and let the professionals manage complex state and federal regulations related to benefits and taxes, said Brady, a senior member of the House Ways and Means Committee and Chairman of the Joint Economic Committee. "The Small Business Efficiency Act will ensure high standards for these PEOs which then allow local businesses do what they do best – succeed."
‘Let’s allow small businesses to focus on creating more jobs,’ says Brady
Washington, DC – Today U.S. Congressmen Kevin Brady, a Republican from Texas, and Mike Thompson, a Democrat from California, introduced the Small Business Efficiency Act of 2013.
The measure helps small businesses deal with complex payroll, health and retirement regulation by providing clear standards for professional employer organizations like Houston’s Insperity or TriNet in California. These PEOs, as they are known, are certified by the IRS to collect and remit federal employment taxes for small businesses.
“Small and medium sized businesses want to focus on growing their business and let the professionals manage complex state and federal regulations related to benefits and taxes,” said Brady, a senior member of the House Ways and Means Committee and Chairman of the Joint Economic Committee. “The Small Business Efficiency Act will ensure high standards for these PEOs which then allow local businesses do what they do best – succeed.”
PEOs provide human resources services to their small business clients, including access to retirement plans, health insurance, life insurance, and other benefits that many small businesses would not otherwise be able to afford. One of the most important tasks that PEOs can perform for small businesses is the timely and accurate payment of wages and the collection and timely remittance of employment taxes.
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