The primary focus of a certified public accountant (CPA) is money management. From auditing finances to overseeing the budget and financial planning, CPAs help their clients manage and save money. When looking at income and expense reports, health benefits are one of the largest expenses after payroll. As health insurance premiums continue to escalate, clients are looking for recommendations from trusted advisors.
MidwestHR receives many referrals from CPAs who are looking out for their clients’ best interests. As one of the first IRS Certified Professional Employer Organizations (CPEO) in the country*, we give clients access to top quality benefits at competitive rates. We also handle daily HR functions like payroll, tax administration, workers comp, compliance and more. PEO clients cite “time savings” as a core reason for partnering with a PEO, allowing them to focus on growth and productivity. In fact, according to the National Association of Professional Employer Organizations (NAPEO), small businesses who use a PEO grow on average 7 – 9% more than companies that do not and are 50% less likely to go out of business. By educating clients on the benefits of working with a PEO, CPAs recommend a relevant solution and reinforce their dedication to client success.
CPAs are important partners who understand the intricacies of the business and provide important counsel. Business owners may ask for advice on anything that impacts the budget. This can become a slippery slope by engaging a CPA in decisions that are beyond their expertise. What starts as a couple questions, can lead to employee related decisions completely unrelated to a CPAs role. Outsourcing HR to a PEO allows a CPA to stay laser focused on their area of expertise knowing their client is getting expert HR guidance.
Skilled CPAs understand the limitations of their expertise and know when to bring in a partner. At MidwestHR, we have successfully supported CPA clients for over 20 years. With this extensive experience, clients get the expert HR advice needed to thrive. Give us a call at 630-836-3000 to learn more.