By choosing MasterStaff Inc., you are opting for a company that can provide a number of back office solutions, allowing you to concentrate upon developing your business.
Our services can help your organization to operate more efficiently and reduce operating costs.
Masterstaff offers 2 basic payroll services
P.E.O. Services
Masterstaff offers Professional Employment Organization (P.E.O.) Services for small and medium size business.
What is a P.E.O. Service.? A P.E.O. service is a business that you hire to be your business employer of record. That answer usually brings up why would anyone want to do that? In the old days it was to offer completive bargaining for reducing insurance cost. Today in Michigan that advantage has be legislative away. However there are still some major benefits to using a P.E.O. service that very few other companies offer. Even if you’re incorporated, the IRS and the State of Michigan still hold the owners of the corporation liable for uncollected payroll taxes and penalties. Now you may hire a very competent C.P.A. to handle your paperwork and that’s fine. But it is you that is personally responsible for any liabilities due as a result of payroll. With a P.E.O. you are not the employer of record so not only are you not responsible for the paperwork but also you are not responsible for any unpaid taxes or penalties. That responsibility rest with the P.E.O. Now many accountants will offer to cover the penalties but it is still up to you to collect and pay them. As well as any unpaid taxes. Using a P.E.O. is like hiring an accountant and also getting payroll liability insurance also in one package. With a P.E.O. Service you pay as you go. And any penalties that happen as a result of errors are not your responsibilities.
You will purchase insurance for you car, home, office, even your boat and other property but none of it’s safe without hiring a P.E.O. to handle your payroll.
