Published: March 18, 2010
Intuit Payroll Helps Small Businesses Navigate the HIRE Act
MOUNTAIN VIEW, Calif. - (BUSINESS WIRE) - Intuit Inc. (Nasdaq:INTU) will make it easy for small businesses to take
advantage of the newly passed HIRE Act.
The company's payroll service will be updated to help ensure that the
more than 1 million businesses using Intuit
Payroll Services get every penny of the new tax credits for which
they are eligible. In addition, Intuit will help new employers
efficiently hire and pay their first employee.
Intuit's new Small
Business Employment Index released earlier this month, shows that
small businesses with fewer than 20 employees are already improving.
Employment grew nearly 0.8 percent since June 2009, which is nearly
150,000 new jobs. The HIRE Act is expected to continue helping these
smallest of small businesses start to get the help they need.
Helping Business Get Tax Credits
The HIRE Act offers qualified employers a temporary payroll tax break
for hiring qualified previously unemployed workers. It also includes an
increased business tax credit for retaining qualified workers at least
52 weeks. The benefits can be substantial: up to $6,621 in payroll tax
credits and up to $1,000 in business tax credits per eligible employee.
The payroll tax credits are delivered to eligible employers through
reduced social security taxes, which will lower payroll taxes for the
employer. After legislation is enacted and the IRS releases guidelines,
Intuit will update its payroll services to support these changes. Intuit
payroll professionals keep up with changing payroll requirements, such
as the HIRE Act, year round so customers can focus on what matters most.
Intuit will continue to post the latest information for customers at www.usepayroll.com/HireAct.
Helping Hire and Pay Employees
More than 600,000 businesses hire their first employee each year, and
that number may grow with the new hiring tax credits. Intuit will guide
these first-time employers through the transition from business owner to
employer by offering free copies of "Hire
Your First Employee," by Rhonda Abrams, which helps entrepreneurs
find, choose and lead great people. Businesses that are hiring or
getting ready to hire can get a free copy, a $24.95 value, for a limited
time at www.IntuitInc.com/hire.
Intuit is also offering a free 30-day trial of Intuit
Online Payroll to help small businesses pay employees, whether
they're hiring "employee number one" or 21.
"Our payroll services can help small businesses efficiently pay
employees and get the tax credit dollars they are eligible for," said
Cameron Schmidt, vice president of Intuit's Employee Management
Solutions Division. "We're here to help customers efficiently claim the
payroll tax credits by keeping ahead of payroll tax law changes and
updating our services accordingly. In addition, we're committed to
helping budding employers get off to a great start with hiring their
first employee."
Quick Links:
HIRE Act and Intuit Payroll: www.usepayroll.com/HireAct.
Intuit Payroll: http://payroll.intuit.com/
Intuit Payroll Blog: http://www.intuitpayrollblog.com/
Intuit Payroll on Twitter: http://twitter.com/IntuitPayroll/
About Intuit Inc.
Intuit Inc. is a leading provider
of business and financial management solutions for small and mid-sized
businesses; financial institutions, including banks and credit unions;
consumers and accounting professionals. Its flagship products and
services, including QuickBooks,
Quicken and TurboTax®,
simplify small business management and payroll
processing, personal finance, and tax preparation and filing. ProSeries
and Lacerte are Intuit's
leading tax preparation offerings for professional accountants. Intuit
Financial Services provides enhanced online banking solutions and unique
insights to help banks and credit unions serve businesses and consumers
with innovative solutions.
Founded in 1983, Intuit had annual revenue of $3.1 billion in its fiscal
year 2009. The company has approximately 7,800 employees with major
offices in the United States, Canada, the United Kingdom, India and
other locations. More information can be found at www.intuit.com.
Intuit and the Intuit logo, among others, are registered trademarks
and/or registered service marks of Intuit Inc. in the United States and
other countries.
Intuit Inc.
Heather McLellan, 650-944-3501
heather_mclellan@intuit.com
or
Access
Communications
Anna Pignataro, 415-844-6216
apignataro@accesspr.com
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