Taxes…a dreaded word for many, especially for businesses trying to track and report the taxes owed on employee incentive payments. While paying the taxes may be dreaded, tracking and reporting on them doesn’t have to be.
In our 16+ years of experience, we have found that many companies track the distribution and tax implications of employee incentive payments using spreadsheets or other manual processes. They also attempt to manage several independent incentive programs funded by different budgets within their company.
Trying to manage all of these details is complicated, time consuming and often inaccurate.
Snowfly eliminates these frustrating tax reporting concerns by consolidating the distribution method of employee incentive programs all through one streamlined process.
Snowfly automates the collection of all the distribution information for each employee and reports that information back, including all tax implications, on whatever schedule and in whatever format is needed so that it can be directly imported into almost any HR/Payroll system.
After a single consultation meeting, Snowfly is able to provide the following tax reporting services:
• Gather the required information for tax reporting: We customize the reports your HR/Payroll system needs and in whatever format is required so as to import tax info such as: Employee IDs, Name, Pay Period, Pay Classification Codes, etc.
• Snowfly customizes the reporting frequency to the specific needs of your company: We can send reports on any required interval (specific day of week/month, bi-weekly, or monthly, etc.)
• Snowfly can deliver these automated reports in various ways: Email, Secure FTP Site or downloaded from a secure cloud-based database account.
By partnering with Snowfly, tax reporting no longer has to be a dreaded process, because we’ll do all the heavy lifting for you so that your company can get back to doing what you do best.