OMNIA Partners Blog

Overpaying on Payroll Taxes? We've Got You Covered!

Posted by Populus Group on November 04, 2020


Managing a program can be very complicated, especially when you're never quite sure if you're leaving money on the table. Enter the Cost Plus Savings Model! This rebate program ensures that members of OMNIA Partners don't over-pay on payroll taxes.

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The Cost Plus Savings Model

Ideal for organizations with contingent labor populations, the Cost Plus Savings Model was built when Populus Group discovered the need to help organizations that were paying for taxes long after the cap was reached.  When organizations overpay for taxes like SUTA, FUTA, and FICA, they lose the chance to reinvest those funds to grow their business. Many members of OMNIA Partners are already taking advantage of this incredible program: 

2019 Top 5 OMNIA Partners Member Rebates

 

$ 1,611,180.05 $ 103,327.54 $ 99,808.69 $ 83,446.60 $ 64,473.21
Member 1 Member 2 Member 3 Member 4 Member 5

 

How the Cost Plus Savings Model Works

SUTA, FUTA and FICA all have their own limits. Once an employee earns a certain amount of wages, these taxes no longer need to be paid for the rest of the year. Often times, it can be difficult to keep track of who's at which limit and who is not. This is especially the case with larger work forces and those operating in different states. 

 

With this program, Populus Group keeps track of every worker's progress towards each tax limit, giving those tax dollars back.

 

The Cost Plus Savings Model Benefits:

  • Upfront savings and a statutory rebate check 
  • Excellent customer service for you and your talent
  • Full visibility to know exactly what you receive for your money
  • Innovation to bring customized solutions to your challenges


How Populus Group & OMNIA Partners Helps Your Payroll Program

  • Lifecycle Category Management by OMNIA Partners to maximize your membership benefits.
  • Upfront savings with our competitive bill rates. The typical member saved an average of a half million dollars last year, inclusive of their rebate.
  • Statutory Cost-Plus Model gives you maximum savings and absolute transparency into the return on your money.

 

Topics: Human Resources, Payrolling, Populus Group, Managed Service Provider

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