ASA (American Subcontractors Association) San Diego Chapter Seminar on Payroll and Tax Strategies for Public Works Contractors, May 8, 2012 1:30 – 3:30 p.m. PST, $55.00 Members/$85.00 Non-members – register here.
What You Will Learn
Learn How:
- To reduce payroll taxes and insurance premiums on your prevailing wage projects in order to win more bids.
- “Bona Fide” benefit plans operate and how they decrease labor costs while increasing company profits and enhance employee benefit programs.
- You, the owner, can put more pre-tax money into your personal 401K.
- To smooth out the wage discrepancies between Private and Public Work.
- To generate more profit by eliminating $2.00 – $4.00 or more per hour in payroll burden – based on San Diego Wage Rates.
- To be more competitive when submitting bids.
Learn about the Compliance Monitoring Unit and “electronic” Certified Payroll Reporting requirements:
- What is a Certified Payroll Report?
- How do I complete a paper Certified Payroll Report?
- What is an electronic certified payroll report and how do I complete one?
- Are there different requirements for State and Federally funded construction projects?
- Can your payroll software program integrate with MyLCM and the CMU?
Learn about Certified Payroll Solution for QuickBooks:
- Automatically generate prevailing wage, ARRA, EEOC/Work Utilization and Fringe Benefit Reports by extending the power of QuickBooks.
- Electronically submit certified payroll reports to LCP Tracker, Hill International (MyLCM), Elation Systems and other labor compliance programs.
Learn About Types of “Bona Fide” Fringe Benefit Plans:
- SUB Plan – “Field Workers Get Paid When Not Working” {Holidays, Layoffs, Reduction in hours}.
- Pension Plan – How to Increase Owner and Staff Pre-Tax Contributions.
- Health Plan – Make Health Insurance Premiums not only Pre-Income Tax but Pre-Payroll Tax as well.
Learn About Bookkeeping, Accounting, Payroll & Certified Payroll Reporting Procedures:
- When you pay the full fringe rate as part of employees hourly rate of pay.
- When you pay the full fringe rate to one or more “bona fide” fringe benefit plans.
- When you pay a portion of the fringe benefit rate to a plan and the balance in cash.