Why Choose Fringe Benefit Experts
The focus of our Prevailing Wage/ Fringe Benefit service is to increase the bottom line profit for non-union contractors who perform prevailing wage work. Whether your work is Federal, State or Local…we can help lower your labor burden so as to win more bids and improve your profit margin. We do this by leveling the playing field between non-union contractors and your fellow union competitors by getting the prevailing wage fringe dollars off payroll. By removing these dollars, you will stop paying payroll taxes, worker’s compensation premium and potentially general liability premium from your labor costs (based on the amount of fringe dollars coming off payroll). This allows you to lower your bids while still maintaining your current profit margin. Or, if you are a contractor who wins enough jobs already, removing the fringe dollars from payroll will increase your profit. Your choice.
In case you missed our recent Google Hangout, here is the YouTube video of the event. The points we cover are: • How to prepare for yet another increase in Worker’s Compensation premiums if you are a contractor in California. • How to lower labor costs by contributing the fringe benefit rate on prevailing wage jobs into Read more about Worker’s Comp & Payroll Tax Strategies for Public Works Contractors YouTube Video[…]
Worker’s Comp and payroll taxes take a huge bite out of a contractors profit when working on Public Works construction projects – especially if the contractor is paying the full fringe benefit rate of the prevailing wage to the employee in cash and not to the Union Hall or into bona-fide plans. Public Works Read more about WEBINAR Announcement: Worker’s Comp & Payroll Tax Strategies for Public Works Contractors[…]
Are The Fees of All Prevailing Wage Supplemental Unemployment Benefit Plans The Same? Simply put, the answer is no. I have been asked this question by contractors and I want to share with you what the similarities and differences are between bona fide SUB plans. The front end payroll tax reduction and insurance premium Read more about Fee Differences Between Supplemental Unemployment Benefit (SUB) Plans[…]
Politico Pro Reports: The Obama administration says new census data prove that the health reform law is working despite the fact that the number of Americans without insurance went up slightly last year. The number of uninsured increased by 900,000 between 2009 and 2010 but the percentage didn’t go up by a statistically significant amount, according Read more about Number of Uninsured Rises, But Rate Holds Steady[…]
Effective June 17, 2011, the Health and Welfare Fringe Benefit Rates increased for all Service Contract Act wage determinations. See DOL All Agency Memorandum (AAM) #210.
The Affordable Care Act (ACA) requires small group, large group, and self-funded employers to calculate and report the aggregate cost of applicable employer-sponsored coverage on their employees’ W-2 forms. The reporting requirements were made optional for 2011 W-2s, but will be mandatory beginning with the 2012 tax year. However, for employers issuing less than 250 Read more about W-2 Reporting Update[…]