Implementing a fringe benefit plan is one of the most effective ways to save bottom-line dollars, especially if you are a federal, state, or municipal contractor performing projects and services that are subject to The Davis Bacon or The Service Contract Act.
When working on a public works job, contractors are usually required to pay a “fringe” amount for every hour each employee works. Paying the fringe as cash wages is the most expensive method for contractors because all wages are subject to the following payroll burden:
For each fringe dollar paid as wages, you incur an average 25% payroll taxes on every fringe dollar paid.
Let Contractors Benefit Solutions help you avoid unnecessary payroll burden by directing fringe dollars into bona fide employee benefit plans.
As the Treasurer of Robert F. Audet, Inc. I have been working with Brian Renaud for over 9 years. Our relationship continues because Brian pays attention to our changing needs as an employer. Brian listens to our concerns, understands our business culture and our industry – all while bringing fresh ideas for us to consider. In a world that is continually changing Brian is a constant in our “tool box” here –
Lynn P Kent, CPATreasurer
Start saving by calling Contractor Benefit Solutions at (339)222-8317, or by completing the form to the left.
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