Big Changes Coming in 2009
As the last few months of 2008 wind down, savvy business owners should begin preparing for big changes coming in 2009. Not only will the nation see a new President take office but corporations and business owners of all sizes are likely to begin feeling increased pressure due to these tough trends:
1.     A rough economy. The stock market has dropped by over 30 percent in recent months leading to growing consumer uncertainty and cuts in purchasing power. Business leaders are taking note and expect to dramatically reduce inventory as well as hiring after the holidays. Small business owners should begin preparing now by using outsourced labor and payroll services rather than keeping long term employees in-house. Bottom line: get lean and mean while you still can.
2.     Tax shortfalls. Slowing business isn’t good news for Uncle Sam – after all these big bail-outs they need more money than ever and that means more taxes from the companies still in business. One way to collect taxes when sales are down is to redefine what constitutes an employee. Confused about what constitutes an Independent Contractor? Find out for sure by speaking with a PCG staff member today. Mistakes are likely to cost you more than you realize as the IRS, Department of Labor, Workers Comp offices and other state and federal entities combine forces to “crack down†on violations.
3.     Restriction on Safe Harbor Guidelines. Many industries – including construction – rely upon the “norms†for each industry when determining worker classification and other benefits. Recently proposed legislation is slated to severely limit or even eliminate safe harbor guidelines in the near future. Should this provision be put into effect, small business owners will be hard pressed to implement changes fast enough to stay out of trouble. Find out how to position your company to ride the coming changes without increasing your cost or risk – in fact, you may be able to substantially reduce your expenses for payroll, workers compensation premiums or other insurance needs by utilizing PEO and other benefit programs provided by the PCG brokers. Unlike other vendors, PCG doesn’t just represent one or two options – instead, we act like a broker to find you the best fit at the best possible price. It’s fast, friendly and free since our fees are paid directly by the program after placement.  For more information visit www.payrollconsultants.com and sign-up for our blog while you are at it!
