Headcount uses the mid-market rate and our bank partner's markup on the currency conversion is between 1-1.5% which is competitive and often much better than other offerings in the market. PayPal typically charges from 2.5%-5% depending on the currency. International Bank wires charge 2%+ and more for non-standard currencies. Please reach out to our staff if you're curious about specific rates.
Currently Headcount is only available to US employers. If you have a U.S. entity you can use Headcount to pay your contractors in many countries worldwide. We support over 130 countries. You do not have to be physically located in the U.S. to use Headcount.
When employers pay clients, we handle the payments via IACH, wire transfers, and local payment methods where possible. Contractors will receive the funds in their local currency directly to their bank. Contractors can also specify their preferred currency.
As a contractor, you can specify days you logged time for and on what days during the pay period. As an employer, you're able to view all hours worked over the pay period. If you're a Complete plan employer, you'll get access to advanced time tracking functionality through approvals, permissions, and reminders.
A contractor inputs their hours worked and an employer will review the time sheet before submitting payroll. If you're a complete plan employer, you have access to additional time tracking features through permissions, approvals, and reminders.
We are always here to help you! The fastest way to get in touch is via email and you can reach out to us at email@example.com. If you're a complete plan member, you have access to best in-class support through phone, email, and live chat. Simply check your account for details on how to reach out.
If you fail to collect a W-9 form from your contractor and do not issue the required 1099-Misc form, the IRS will hold you responsible for not withholding 28% tax on the amount paid and assess penalties for not issuing the required form. The penalties are $260 for each failure to file and an additional $260 for each failure to issue a required 1099 Form. The IRS is very strict about 1099 Forms and in addition to the potential penalties for not filing, they can/will deny the deduction for that expense under audit. It is strongly recommended that you have a W-9 from all contractors you do business with in the U.S.
All non US citizens performing services for US based entities are required to fill in W-8BEN forms. You just need to submit such form to your payer, and there’s no need to submit it to IRS. Headcount can help you take care of all that automatically if you're a contractor.
Please note that we can’t advise you on how or when you should file your taxes. You may want to contact a tax professional in your country. However, you can find the most recent instructions about these forms at the IRS website. There are two versions of the form. The shorter one (W-8BEN) is for individuals, and the longer one (W-8BEN-E) is for organizations (corporations, limited liability companies, etc.). If you work as a sole proprietorship, you are still considered an individual and fill in W-8BEN form. If you need assistance filling out these forms, please contact us at firstname.lastname@example.org.
Headcount offers simple pricing with no hidden fees or initial setup charges. We have three separate plans, Classic, Core and Complete. Classic is $29/mo and $4 per user. Core plan is $49/Month and $8/Month per user and Complete is $149/Month and $12/mo per user. This is all it takes to completely automate payments to your entire team if they’re hired as contractors. It's a better deal than what most banks charge for international wires. We offer better currency exchange and local payouts, so your contractors would be taking home more money. We don’t charge any processing fees, transaction fees, markups on FX, etc.We charge that fee once per month so if you pay your contractors every two weeks, you'll be charged only once.