While you think you can still extend your hands for more responsibilities now that your company is expanding, you may only spread yourself too thin and potentially miss more important roles than simple paperwork. Hiring an agent of record is worth the cost if you want to streamline your independent contractor compliance and mitigate your misclassification risks.
4 Reasons Why Larger Businesses Should Hire Agents of Record
Before we delve into explaining why larger businesses should hire an agent of record, let us first define the topic. An agent of record is an individual or company that performs the administrative functions of other companies.
More than that, an agent of record also ensures that you won’t face issues with the IRS so you can focus on the many running components of your company at the same time.
Unfortunately, not all companies understand and appreciate the importance of agents of record. In this article, let us discuss four compelling reasons why an agent of record should come in handy for larger businesses.
No More Problems with Paperwork
When you hire an agent of record, you won’t have to worry about keeping track of official notices or due dates for annual reports with the state. The times have been fast-changing, and anything can happen now and then. When you have an expert team focusing on these functions, you can rest assured that you fulfill worker compliance and tax regulations.
Additionally, all your important documents are well-kept in one place, ready for when you have to use them as proof of your compliance.
Business Locations in the Multiple States
When your company branches out to a different state, you need to have a registered agent located there. That is one reason why companies hire agents of record. State regulations are exclusive to their own, and having a team set to overlook things for your company’s branch relieves you of the unnecessary stress.
Every business has to be registered with an address. If you choose to set your company’s address to your home address, you may encounter weird, and not to mention stress-inducing circumstances, like junk mail. If this setup bothers you, it would be best to have a registered agent.
When you have a registered agent, their address will be posted on your company’s website and all paperwork, so they face and answer all notices, queries, and reports due to your company.
Aside from a physical location, a registered agent also needs business hours. When you’re a business leader who wants the freedom to have irregular hours or times of the day different from official business hours, it will help if you get an agent of record.
Your registered agent will accept and process all notices from the state while you can focus on looking at the bigger picture.
Get the Best Agent of Record for Your Company
While it can be difficult to entrust your company to other people’s hands, doing all the work will only burn you out and cause you to underperform. If anything, registered agents have been in the industry for many years, so they know the ins and outs of business operations. With that, you sure can rely on them to perform their work with utmost professionalism and diligence.
At ClearPath, we offer the same services for companies like yours. If you want to understand more about how we can be a great addition, give us a call today.