If you are an employer here to understand the difference between Wingspan and Papaya Global, you're in the right place.
What is the difference between Wingspan and Papaya Global?
Papaya Global is a great platform for handling international payroll, taxes, and compliance. If you're using American 1099s and want to streamline their onboarding, payments, and compliance procedures, Wingspan may be a better alternative.
Streamline 1099 Payments
It's expensive and time-consuming to stay on top of things when paying contractors. Wingspan interacts with all of your other systems and collects and reports contractor payments to the IRS automatically.
Reduce Freelancer Attrition
The most pressing issue that businesses confront is finding and retaining qualified personnel. Unlike Papaya Global, Wingspan furnishes your contractors with a complete suite of business tools to manage their operations, allowing them to stay on board for longer. When you pay your workers through Wingspan, they can set aside money for taxes, get insurance, and organize their income & expenses.
Help your contractors with taxes
Freelancers, unlike full-time W-2s, have difficulty with taxes, which detracts from their productivity and contributes to attrition.
The most difficult tasks for contractors are balancing income for taxes, paying quarterly estimated taxes, and claiming tax deductions.
When you pay your contractors through Wingspan, they have the option of setting aside the appropriate portion of their earnings for estimated taxes. Freelancers are required to submit quarterly estimated taxes. Your contractors are reminded to make these payments and receive 1-click payments directly to the IRS by Wingspan.
Many 1099 expenses can be deducted, reducing their tax obligation. Wingspan allows your freelance contractors to link their bank accounts. Deductible expenses are automatically identified and your 1099s can understand their income and expenses over time.
Keep your contractors' attention on their job
Wingspan helps you give your contractors affordable benefits while remaining in compliance with employment law. Wingspan can help you get insurance and set up your LLCs for your 1099s. Health Advocate, 24/7 Telemedicine, and other big-company perks may be subsidized.
Pay more quickly than your competitors
Nowadays, contractors have more employment alternatives than ever before, and they are seeking for employers that pay promptly. Pay your contractors via next-day ACH or instant payments.