Are you a contractor working on prevailing wage projects and paying the fringe benefit portion of the prevailing wage in cash to your employee’s?
What if told you that you could reduce your payroll tax contributions by at least*$14,784.00 a year and receive additional savings on your general liability insurance (if you live in a state where liability insurance is based on gross payroll instead of sales)? Would that kind of savings help you lower your bids and still make money? Impossible you say! What would you say if I also told you that your employees would also be happy?
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