QuickBooks® for Contractors Bookkeeping Tips & Training

VIDEO: Worker’s Comp & Payroll Tax Strategies for Public Works Contractors

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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.  Contractors in California will soon be faced with yet another increase in Worker’s Compensation premiums.
because money doesn't grow on trees

Money doesn't grow on trees!

Public Works Construction and Prevailing Wage projects require advanced financial planning methods and tools along with an understanding of the ever-changing compliance requirements — so that you can reduce your overhead and get paid on time.

Join Tim Blackwell of InsuranceDude.com, Steve Kuzmack of Fringe Benefit Experts, Bruce McFarland of L & R Tax Preparation, and Nancy Smyth of Sunburst Software Solutions, Inc. for a free, live 1 hour *Google+ hangout on Tuesday June 12, 2012 from 5-6 p.m. EST where we discuss easy to understand strategies for:
  • determining if you are paying too much for your Worker’s Comp insurance
  • 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 bona-fide plans
  • complying with with certified payroll reporting requirements on Federal and/or State funded construction projects — including the impact of the new Compliance Monitoring Unit (CMU) and the filing of electronic certified payroll reports through MyLCM.
  • how the tax credits from the IRS may or may not come into play when the contractor does set up a health insurance plan
*Google+ hangout requirements limit you to a total of 10 people who can participate live in the actual hangout – so make sure that you join the hangout quickly on Tuesday June 12, 2012 from 5-6 p.m. EST.  If the hangout is full, you can watch it live via our YouTube Channel or on Google+ and submit typed questions that we will be happy to answer.  Can’t make it at the scheduled time – not a problem – you can watch a recording of the hangout at your leisure on our YouTube Channel.
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Did you miss this live webinar?  Not a problem, you can watch the recording below and download the slides by clicking here.

During the first section of the video you will see a LOT of just white space, Tim’s webcam wasn’t working correctly – but you’ll still hear him talking.

 

 

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About Your Host:
Nancy Smyth, Certified QuickBooks ProAdvisor

Nancy Smyth, Sunburst Software Solutions, Inc.
QuickBooks Construction & Payroll Expert


I've been using and supporting QuickBooks products since the early 1990's. I've worked with thousands of contractors, assisting them with QuickBooks setup, Certified Payroll Reporting requirements, AIA Billing and Weighted-Average Overtime.


QuickBooks is a powerful product, but learning how to use it in your construction business can be difficult. I hope you find resources available here to be helpful.

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