Cut Workers’ Comp Costs: 9 Tips
Workers’ Compensation: It’s always a potential threat for large losses. And when Workers’ Comp costs get out of control, it can become a challenge to reduce them. Accept the challenge to reduce Workers’ Comp costs, or to hold down already low Workers’ Comp costs. How? Here are some strategies to help you and your business…
Is an HSA Right for You?
Health care costs have skyrocketed over the last few decades. Fortunately, health savings accounts (HSAs) allow qualifying individuals to pay for certain medical expenses with pretax dollars. Here is what you need to know to put an HSA to work for you. Healthy Growth Over the last decade, many people have jumped on the HSA…
Giving Information Can Lead to Lawsuits
Legal hassles can arise when you give references for former employees. These former employees might turn around and sue your organization for defamation. Here’s a quick review of the ins and outs of giving references for former employees. First the facts: Defamation involves communicating false information. Defamation with malice involves communicating information — even true information when…
Tread Carefully If Firing an Employee on FMLA Leave
Deciding to terminate an employee is generally risky. But the risk level associated with terminating an individual who has requested leave under the Family and Medical Leave Act (FMLA) is markedly greater, as illustrated in one court case. Plaintiff Terminated The employer was a not-for-profit organization that provided programs and services to people with developmental disabilities….
Gain Employee Loyalty with Commuting Tax Breaks
Commuting can be a nightmare for employees. Your company can help by offering your staff members some financial relief from their commuting hassles. Employees appreciate this benefit and there’s a bonus for your company: You can save money on payroll taxes. Similar to a cafeteria plan election, staff members can have money deducted on a pre-tax…
Stay on Top of Retirement Tax Angles
Compounding of earnings and starting to save early have a tremendous positive effect on how much you accumulate for retirement. But to make the most of compounding, you also need to be smart about taxes.If you don’t plan ahead, the federal and state governments could collect a huge portion of your retirement savings. Uncle Sam can…
How Will Working after Retirement Affect Your Social Security Benefits?
In one survey, 79% of current workers stated they plan to work for pay after retiring.1 And that possibility raises an interesting question: How will working affect Social Security benefits? To answer that question requires an understanding of three key concepts: full-retirement age, the earnings test, and taxable benefits. Full Retirement Age Most workers don’t face an…
Becoming a Great Place to Work: It is Not About the Money
“It is easy to understand why companies have focused on… pay, parking, cafeteria discounts, etc.” when trying to attract, retain and motivate workers, stated Gallup in introducing its research on its Management Journal website. Why? Because it’s usually fairly easy to tinker with those variables. The problem is, “these factors do not really make a difference to the best,…