3 Areas of Fraud-Proofing to Focus on For Construction
As the economy continues to challenge everyone, the motivation for some employees to steal isn’t hard to understand. Although the term “fraud-proof” may be a bit hyperbolic, it doesn’t hurt to shoot for the stars when trying to safeguard your revenue and assets. One way to divide and potentially conquer fraudsters is to focus on [...]
10 Tips For Keeping Volunteers
It’s easy to take your volunteers for granted — until they quit. Now, more than ever, short-staffed nonprofits rely on volunteer labor to pick up the slack. To help ensure you’re doing everything you can to engage and retain unpaid workers for the long term, consider the following 10 tips: 1. Build a program. [...]
What You Should Know About Social Security
About 150 million people contribute and 55 million collect Average monthly benefit: retired worker = $1,200; retired couple = $1,900 Social Security benefits are calculated using the highest 35 years of earnings 62 is the earliest you can receive benefits–most people start at 62 and 95% start by 66 Every month you delay after full [...]
Group-Term Life Insurance
Many employers offer company-paid group-term life insurance to team members. There are no tax consequences if the total amount of such policies does not exceed $50,000. However, coverage in excess of $50,000 must be included in income, using the IRS premium table. The calculated amount is then subject to Social Security and Medicare taxes. Figure [...]
What to Do When the DOL Calls
Over the past couple of months we have had several clients who have received phone calls from the DOL (Department of Labor). That may not seem like an important event, but during my many years in this business, I can only remember one such phone call received by a client. Wage and hour audits are [...]
