Monthly Archives: January 2015

INVO PEO Sponsors Run For The Schools on February 28

By | Bill Arowood, INVO PEO | No Comments

INVO PEO has signed on as a sponsor for the Rusty Wallace Honda Run for the Schools, set for Saturday, February 28, 2015, at Chilhowee Park in Knoxville. The event features a 5K race and fun walk in the Knoxville Zoo and a 100-yard dash for children.

“We are proud and honored to support our region’s schools in such a tangible way,” said Bill Arowood, president of INVO PEO.

Funds raised by the race are distributed to individual public and private schools in Knox and surrounding counties based on each school’s participation in the event. In addition to a cash sponsorship, Arowood wants to encourage participation in the event by paying the registration fees for 25 participants who use the discount code INVOCARES. Simply go to the event web site, and click the link to register to get started.

Other sponsors for the event include Knoxville TVA Employees Credit Union and z11 communications.

President Signs PEO Legislation

By | Bill Arowood, INVO PEO | No Comments

Late in December, President Obama signed into law the Small Business Efficient Act (SBEA) which clearly defines professional employer organizations (PEOs) in the federal tax code as well as a host of other items that will assist the PEO industry.

A key component of the new law is a voluntary certification program for PEOs with the IRS. This program will help consumers select PEOs that have undergone strict review of financial standards by the IRS. To meet those standards the PEO must satisfy reporting obligations, meet financial standards (including bonding and independent financial reviews) and meet other appropriate standards set by the IRS.

Once a PEO is certified, they would take the sole liability for the collection and remission of federal employment taxes for worksite employees. This makes it very clear for the clients of the PEO where the liability lies and removes some of the current ambiguity.

“INVO PEO is dedicated to providing the highest standards in financial stability. As this new program is launched, our company will be one of the first to pursue this certification,” stated Bill Arowood of INVO PEO concerning this new legislation.

Google to Enter Auto Insurance Market

By | Bill Arowood | No Comments

Since 2013 Google has been licensing its online shopping site to sell auto coverage in several states. Currently they active licenses in 26 states and have announced plans to begin rolling out a new auto coverage comparison site in four states. During the next three months Google will begin to offer the service in California and then later in Illinois, Pennsylvania and Texas.

Google’s brand is powerful and will certainly have an impact, but Bill Arowood of Madison Insurance Group urges consumers to consider the value of working with a local agent. “Having someone you can call at 4 pm on a Sunday afternoon, someone that’s your neighbor, your friend; you can’t get that with a big box insurance broker solution.”

Arowood states that working with a local agent is very important to insurance consumers because of the level of personal service it affords you.  Arowood says that “your local agent is usually someone you know well or will certainly come to know as a friend. That’s a value that is hard to put into dollars and cents. It’s what insurance is all about. Having peace of mind.”

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