“The greatest thing about working directly with banks is that the customer's money moves instantly between their checking and withholding accounts”.
RoamHR announces the general release of its new Gig Suite Powered by Somerset Trust Company*. Working directly with Somerset Trust FDIC insured bank accounts, the RoamHR mobile application can process incoming payments that self-employed workers receive, calculate tax withholdings, and automatically move them to a tax withholding account set up for the worker. In addition, the new no-fee banking suite offers automated expense and mileage tracking as well as invoice creation and payments. https://www.go.roamhr.com/roam-gig-suite
“This is a very new concept, that the act of opening a standard bank account can really improve someone’s livelihood,” said Rick Gonzalez, RoamHR CEO. “These accounts have the standard features included in any other bank account, but they work specifically to help manage self-employment income and reporting.”
The no-fee banking account package includes standard banking features, such as ATM access, statements, bill pay, mobile banking access and online banking through Somerset Trust Bank.
Additional self-employment features include:
- Tax withholding recommendations
- Quarterly payment reminders
- Optional IRS payments
- Factoring in of income from a “normal” (W2) job
- Roamtrack invoicing
- Automatic mileage tracking
- Automatic bank expense tracking
- Instant transfers between checking and tax withholding accounts
“The greatest thing about working directly with banks is that the customer’s money moves instantly between their checking and withholding accounts,” Gonzalez said, in describing the many benefits of the product suite.
The no-fee Gig Suite comes with a checking account, a savings account, full use of the RoamHR mobile application, and a special Gig Debit Card from Mastercard that has unique benefits for the self-employed worker.
- *Somerset Trust Company Member FDIC, An Equal Housing Lender