Running a successful business is complicated enough just to ensure that you have a great product that is needed. Add in the additional layers of tax and legal compliance and you have enough headaches to drive any business owner mad. The processes and services at Bosque de Talentos help to eliminate many of these pain points for business owners. We want our clients to be able to minimize the need for expense financial, legal and tax advisers by minimizing the challenges each business owner faces when it comes to growing and hiring employees.
We developed the Bosque de Talentos process with tax and legal advisers from some of the largest firms in both the United States and Mexico, and continue to utilize their support to ensure our clients are 100% compliant with all applicable regulations and requirements in both countries. Understanding the risks to hiring employees directly from your business is important in the United States and Mexico – but eliminating the need to even hire employees directly removes all those risks from the equation. Working with Bosque de Talentos will make you fully compliant with all regulatory requirements and simplify so many aspects of your business allowing to you to focus on what you do best – sell your product.
United States Tax & Legal Risks
Dealing with IRS laws around independent contractors and even foreign independent contractors can be difficult. There are many different requirements that almost businesses using foreign independent contractors need to meet – but almost none do. Doing this leaves you vulnerable to large fines and back taxes that can sink your business in the United States. And that is before even considering foreign labor laws that you may be violating in other countries that may be creating additional liabilities for you.
Some of the taxes you could be liable for include the 30% withholding tax plus applicable fines and penalties. If you mistakenly hire someone with U.S. citizenship it could be even worse. Hiring through a professional employer organization like Bosque de Talentos eliminates all the potential liabilities you could face in the United States. Working with Bosque de Talentos makes you fully compliant with all IRS regulations, allowing you to hire the full-time talent you need without any risk of it coming back to haunt you later.
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Mexican Tax & Legal Risks
The intricacies of dealing with United States tax and legal compliance for independent contractors are only multiplied when dealing with the Mexican Authorities. Mexican law strongly supports independent contractors in their work. The largest threat that foreign businesses failing to establish a presence in the country face is a lawsuit from your employee or independent contractor for not providing the necessary benefits required under Mexican law. The current law gives the employees the full support of SAT, Registro de la Propiedad and other agencies in their claims against you.
Bosque de Talentos provides full protection for your current and future business ventures in Mexico. We are a fully compliant business registered with the Registro de la Propiedad and Mexico’s tax authority SAT. Your contract with us protects you from any employee claims against your business in Mexico, and our contract with each employee ensures that there are no tax or legal compliance issues ever. We even handle each employees’ accounting and tax records to ensure that they are fully compliant under Mexican law. Bosque de Talentos has every compliance angle covered and can help you manage your operations in Mexico for as long as you want.
Full Tax Compliance
Our goal is to reduce any risk that you could face in your home labor market or in Mexico. Bosque de Talentos was formed by working closely with labor professionals in Mexico and the United States to ensure that every potential risk is covered. Every aspect from the business formation to employee-business relationships have been covered in-depth. We make it easy for you to quickly set-up up your operations with zero legal and fiscal regulations to meet.
The IRS recognizes PEO or employee leasing organizations like Bosque de Talentos to be fully compliant with their requirements. By working with Bosque de Talentos, you are in full compliance with U.S. and Mexico regulations – meaning that you are free to focus on running your business without any worry.