RoamHR offers 1099 Contractors a Seamless Way to Pay Their Taxes - Innovate New Albany | New Albany, Ohio

RoamHR offers 1099 Contractors a Seamless Way to Pay Their Taxes

Rick Gonzalez is the Founder and CEO of RoamHR. The company has been headquartered at Innovate New Albany since its inception in 2018. Rick started RoamHR when he saw the need for its services first-hand.

His son, a recent college grad, had secured a job as a contractor and was making good money. But there was no automated system in place for anticipating his income, withholding the right amount of taxes and paying the IRS on a timely basis.

RoamHR is a financial platform that performs these necessary, behind-the-scenes functions that employers provide for their W2 employees. It helps 1099 contractors track their fluctuating income, document their expenses, keep more of their earnings, and ultimately get paid faster. No more penalties, fees or payment plans for guessing their tax withholding wrong. RoamHR does the thinking and calculating for them.

Several business partners and investors, including JumpStart, a Cleveland-based venture capital investor, support RoamHR. The platform links with its user’s bank, so when a deposit is identified, the system asks the contractor if it’s income. If it is, it will project their annual earnings, calculate the tax withholdings, move the money into a tax withholding account, and pay the IRS when it’s time.

It will also track mileage and alert the contractor when a bill is paid. Business expenses and mileage become part of the

calculation that projects their annual income. Like an electronic bookkeeper, RoamHR gives a 1099 contractor the W2 experience in real time.

After spending its first year selling directly to consumers, RoamHR now partners with banks and credit unions to offer its platform to the financial institutions’ self-employed customers. They have a partnership with Somerset Trust Company in Pennsylvania, and can open tax-withholding accounts with BBVA Banks. Both banks are FDIC insured accounts.

With two full time employees and plans to partner with more financial institutions by the end of the year, RoamHR strives to take the headaches out of paying taxes, and make it easier for contractors to manage their business. The app can be easily accessed through the Apple Store or the Google Play Store.

If you would like to learn more about RoamHR or know of a bank that would benefit from a partnership, please connect with Rick on LinkedIn, or visit RoamHR’s website.

Innovate New Albany, the city’s incubator for technology startups, entrepreneurs and small businesses, features 16,000 square feet of space within the New Albany Business Park’s Signature Office Building, 8000 Walton Parkway.

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