Fed-up with group health insurance? ICHRA is the new way to offer great health benefits and avoid ACA penalties, SHRM calls it the 401K for group health benefits. In 2020 the Department of Labor, HHS and IRS changed the rules for employer health benefits. They changed the Affordable Care Act mandates and penalties for every
See also: Commission Accounting PEO Arrangement Compared to Outsourcing Payroll Direct Labor Pension Plans Federal Unemployment Tax Act (FUTA) Outsourced Accounting Services Payroll Accounting is the function of calculating and distributing wages, salaries, and withholdings to employees and certain agencies. It is generally done through different documents such as time sheets, paychecks, and a payroll
See Also: Advantages of a PEO What is a PEO? How to Select a PEO Professional Employer Organizations FAQ’s Service Department Costs PEO or Outsource Payroll Do you have a PEO or outsource payroll? Under the PEO Arrangement, there is a co-employment relationship in which both the PEO and the Business Owner have an employment
Hiring is one of the many costs that are often overlooked in a company. Whether a company notices or not, hiring costs can be high. Unfortunately, there is no way to completely avoid them because you need people to run your business. However, there are some things you can do to minimize these costs without
See also: Recruiting vs Staffing What the Current Hiring Process Costs When You Know It’s the Right Hire What is a Staffing Agency? A staffing agency is an entity that has employees that can be hired out for temporary or long term work. A staffing agency is also referred to as an employment agency. It
Recently, we have seen a new term emerging regarding the type of employees some companies have: corporate zombies. Why should you as a financial leader care about the type of employees your company has? It all lies in your income statement. One of the largest (if not the largest) expense item is your human capital.
How businesses can prepare for natural disasters in the future and how to best react to them is something financial leaders and business leaders often neglect to address until after the fact. Hurricane Harvey made landfall almost two weeks ago on the Gulf Coast of Texas and Louisiana, impacting some 50 counties. It dumped an
Let’s go back to 1912… The RMS Titanic set out on her first (and only) voyage from Great Britain to New York City on April 10, 1912. The plans were drawn. The lines were cast. Some of the wealthiest people in the world were aboard. The well-oiled machine was pumping the turbines below, pressing forth to America.
Britain’s exit from the EU, commonly nicknamed Brexit, is one of the most discussed issues over the past week; particularly when it comes to the financial implications of Brexit and how it impacts business.For the first time in its existence, the European Union (EU) has lost a country from its (previously) 28-country politico-economic union. News reports have
It’s the first week of May which means that caps will soon be flying in the air and college graduates will be entering the workforce. What these new workers may not know is that employers often have an unspoken expectation that graduates arrive job-ready on day one… Sounds pretty reasonable, right? But with advances in
LeBron James: hate him or love him, you have to admit that he’s a talented basketball player. When he started out his career in Cleveland, he was a promising player. Unfortunately, his gifts were too much for the team since there wasn’t a support system to cultivate his “A” player qualities. After 7 years, James
On Thursday, natural gas prices hit a 17-year low. Ouch… We often talk about how to manage your company and the best way to judge what the economy is doing. One of the simplest (and most often overlooked) things to do is to look beyond what’s right in front of you to the hints the economy has left behind.