How can small contractors save money in this bad economy?
I would like to know what a small contractor with 2 or 3 employees can do to save some money on his Work Comp insurance. The rates are really high! Should he fire his employee's and hire them back as subs and make them get there own insurance? Should he just fire them and shut down? Just leave it like it is and not eat?
Please only serious answers.
I would consider checking rates with other carriers. You will need to check rates for your entire account, i.e. your Commercial General Liability, Commercial Vehicle, etc. Most insurance companies will not write stand-alone Workers Compensation since it is usually not profitable. The commercial insurance market is currently very soft, i.e. companies want to write more insurance and rates are actually going down–competition for clients is fierce. You should be able to find a good company with lower rates. Of course if you have a bad claims history, all bets are off.
Check rates with your own agent first. Let him or her know that you are "shopping". Sometimes your agent can talk to their Underwriter and get a concession on your rates to keep you as a client. Then you should check with a couple of independent agents. Some companies for you to check–Travelers Insurance, Erie Insurance, CNA, The Hartford, etc.
In terms of firing your employees and re-hiring them as subs, I do not believe that would fly with IRS. IRS has very strict criteria for whom they consider an employee vs a sub-contractor. The major problem with this is they can come back and demand back employment taxes on people you paid as subs that they state should have been categorized as employees. Recently one of my clients had a $55,000 levy from IRS due to this exact situation. In my humble opinion I would not tangle with the Feds.
Worst case scenario is lay off one person or reduce hours but if the insurance cost is your only problem I hope you won't need to do that.
I hope this helps. Good Luck!
Is there any safe ways to make extra money from home?
My husband and I are looking into ways that we could make extra money from home. I am not able to work due to health reasons and we were wanting some safe income that could be made from home. Does anyone know anything. PLease no scams or anything.
How can we save money in our recreational time and social time?
How can we save money, especially in th recession to?
lIttle things that you want to help me broadcast in the next edition of the newspaper i am with !
I'm in a rush, even i am allowed to leave grammatical errors in times of inadequate research!
(-: Ha-ha! My journalism teachers would skin me alive if I left grammatical errors in my work. My, my, how the depression has changed our times!
OK, for cheap entertainment, ask your grandma what her grandparents did for cheap fun. I think you have to go back that far. People would have dance parties in their living room or basement, with just some sodas and chips for snacks. They would play games, especially tough games like bridge. The bridge party was a huge thing back in the 1920s. They would do things that also produced stuff, like baking as a hobby, or knitting or crocheting.
These days, we have lots of wonderful electronical devices to provide cheap entertainment. TV, DVDs, computers, iPods, etc. So, invite a friend over and listen to something. Do the Rocky Horror Picture Show thing, and watch bad movies while making fun of them.
There are tons of cheap things to do.
And BTW, if you find grammatical or spelling errors in my stuff, for God's Sake, fix 'em before you publish 'em! LOL! (And give me credit.)
How are you going to save money this year?
What are you going to do (differently) to save money this year?
For instance, clip coupons, car pool, have money direct deposited into a savings account? What are you going to cut back on or how are you going to make more money to save?
I'm going to stop buying fast food and drive more efficiently.
Here's a list of other cool ways to save – please read it:
http://www.associatedcontent.com/article/1282754/some_ways_to_save_money_when_on_a_tight.html?cat=3
Looking for ways to make extra money?
I'm a young college student looking for ways to make extra money while I'm in college. Since the recession money has been kind of tight, and I'm trying to earn money for a car. Please help!
I make extra money writing for these these web sites:
Write How-To articles eHow:
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Write articles for Associated Content:
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Write for BrightHub:
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Another fun way to make a few bucks is by answering questions on Mahalo Answers:
http://www.ehow.com/how_4702026_money-answering-questions-online.html
Another good resource is Work At Home Moms.com:
http://www.wahm.com/
What is the best way to save money if I only make 900 dollars a month?
I want to save money to buy my own house without getting into debt.
I have a 300 dollar rent and a 200 dollar cable/internet bill.
Aside from too-expensive cable and internet, one of the things many people waste money on is food, because they don't plan ahead and don't know how to shop strategically. Eating out can seriously damage a budget; learn to make your own food (take leftovers to school and work), and be a smart shopper at the grocery store. Here are some tips:
1. Buy in bulk. Shop the bulk section of your least expensive grocery store first—then do the rest of your shopping. You WILL save money (and packaging) this way.
2. I religiously, religiously, check the per ounce or per pound price on the shelf stickers. If your store doesn’t provide this information, ask the store manager about it, or go to another store! By noting how much I’m paying per ounce, I know at a glance whether the 16 oz spaghetti sauce at $1.89 is cheaper than the 20 oz sauce for $2.05.
3. Apropos of the first two tips, create a price book. There’s nothing more satisfying than being able to determine that the “sale” price in a weekly circular is no less expensive than the regular price at a low-cost grocery store.
4. I purchase food that is inexpensive, long lasting, and can be used in many different recipes. Example? Potatoes! I also eat a lot of beans and rice, in different incarnations.
5. I don’t buy much meat or poultry.
6. I buy store brands (generics) when I can. This includes sauces, sugar, bread, frozen vegetables, and many other items.
7. I shop at a chain called the ‘Grocery Outlet’ for items like shampoo, conditioner, toilet paper, soaps, and cleaning supplies (sometime food, too). I rarely pay more than .99¢ or maybe $2.00 for these products. I’m also starting to use more natural cleaning supplies. White vinegar is a wonder product!
8. Check Rite Aid (or CVS, if you’re lucky enough to have one in your city) for ‘buy one get one free’ or even ‘free after rebate’ deals for household items like toothbrushes, toothpaste, and shampoos.
9. I grew up in a home where dinners consisted of a meat or other protein dish, salad or cooked vegetables (or both!), and almost always bread of some kind. I don’t do that. Instead, I try to find recipes that include all of these items (usually a casserole, stir fry, or soup of some kind) in one dish.
10. Snacks for work and school consist of fruit (usually bananas), dried cranberries (from the bulk section), or crackers. Generally, I’m looking for snack food that is inexpensive, easy to carry in my bookbag, and not completely unhealthy.
11. Leftovers. I love them. I can eat the same thing for days and days if I’m craving it (like lasagne). Also, bringing food to work keeps me from spending $6.99 on a burrito at Chipotle every day.
12. “How can you afford to make lasagne”, you ask? I substitute expensive cheeses (like ricotta and mozzarella) with cottage and cheddar cheese. Also, I never, ever buy pre-shredded cheese.
13. Coffee. I love it. I brew it at home and bring it to work in a thermos and a travel cup, so I never run out.
14. Free food. Bring it on! I work at a university, where the free food is abundant. There are receptions and meetings where the muffins, bagels, coffee, tea, or even cold cuts and salad are available for those who are invited.
15. Grow your own! Last summer I feasted on the most amazing tomatoes grown in my yard.
16. I don’t drink much alcohol at home. This decreases my grocery budget substantially.
17. I also don’t drink much soda.
18. Top Ramen: not just for college students! This is a great, low cost base for other dishes. Lose the overly-salty seasoning packet and create your own chow mein using fresh vegetables and the protein of your choice!
Is that all? Probably not. There are so many ways to save money at the grocery store, if you’re willing to cook from scratch, buy in bulk, purchase store brands, and be creative.
http://finallyfrugal.blogspot.com
Where to best save money that earns high interest in the Philippines?
Though I'm still young, i wanted to start saving money for me and my family's future. I wanted to save it to some financial institution that I can trust or a Bank that offers high interest rate.
Metrobank offers 9% interest. Moreover, you can invest it in mutual funds or trading securities if you have knowledge in accounting. I am not sure but i have heard PSBank also offers interest rates as Metrobank offers.
How can I save money on food in Melbourne? Are there any food outlet stores that sell cheap, good quality food
I need to save money on food. I feed a family of five and it's just SO expensive to feed them now that prices have risen. Any hints on cheap meals to prepare would be good too. Thanks
Hi. You should shop at Aldi, it's cheaper than Coles or Safeway. Google saying "home-made easy meals". I hope everything works out okay.
Sorry this isn't very helpful….
Whats the best way to save money if your a teenager?
So I'm 14 so I can't have a job yet but I get allowance. 10$ per week, $30 every three months if I get straight As. My allowance might raise up to $16 but probably not in a while. I want to save money for college but I want to spend money on other things to! Half for savings and half for spending? Help?
P.S. What other things could i do for money?
smart budgeting is the answer my friend 
check this out. a very nice read:
http://www.associatedcontent.com/article/1275978/how_to_save_money_through_smart_budgeting.html?cat=3
What are some good ways to save money?
I might be getting a puppy that requires a lot of care. I need to find ways to either save or earn money. Help?
Before you can have a truly workable savings plan you must know how much you have comming in and where it is all going…Track your spending for say a month (write down everything you spend when you spend it)at the end of the month if you have done that you will see everywhere you spend…then you will be able to make cuts…you will be surprised how many times you buy little things that you can stop buying and save the money…and yes it does add up.