Reduce Your Labor/Payroll Burden in 2018

Reduce Your Labor/Payroll Burden in 2018

When contractors choose to pay the fringe benefit requirement as additional cash wages they are increasing their cost for payroll tax, workers compensation premiums and possibly liability insurance premiums.  These additional payroll related burdens have an enormous effect on bottom line profits.

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Pay for Training With Prevailing Wage Fringes

Pay for Training With Prevailing Wage Fringes

Virtually any type of job related training, including apprentice training and safety training are considered bona fide benefits and therefore can be used to help meet the fringe benefit obligation of the Davis-Bacon Act or state prevailing wage laws.

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Dipping Your Toe in the Water

Dipping Your Toe in the Water

We continually talk with construction companies about the advantages of shifting prevailing wage fringe benefits out of payroll and into bona fide benefit programs like the DirectAdvisors Trust. Although this often makes tremendous financial sense for construction companies and their employees, the transition can be difficult when employees are accustomed to having that money paid as wages.

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Prevailing Wage Savings Calculator

Prevailing Wage Savings Calculator

During 2014 our clients contributed over $15 million in prevailing wage fringe benefit supplements to our bona fide health & welfare and retirement programs resulting in an estimated $3.75 million in savings.

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