1st Week Results . . .

[Thedude]

I was always a insurance biz lover. Congrats brother.

 

[myinsurebiz]

I was always a insurance biz lover. Congrats brother.

Thanks Dude . . . It's going to pay off in spades . . .

 

[chasejordan1]

Herp derp get off the forums you negative Nancy. We don't like you. All you do is point out the bad you cuk. I'm annoyed by your shit posts.

That's cute.

Pointing out flaws to help a man do better is bad?

Ok then.

I'm glad "we" agree dude.

I guess your one of those dudes that let friends drink and drive? Cuz pointing out the bad isn't cool.

 

[Gooner]

2% is a great deal . . . Matter of fact - I doubt anyone but us could get that rate and that's only because I showed the owner the PEO biz back in the 80's.

Let's say we had $10 million in gross commissions generated in a year. We pay out 75% or $7.5 million. The 2% fee would be $150,000 for the year -or- $12,500 a month to not have to deal with anything but input the gross wages for each Employee in a portal once a week . . . They handle everything.

SunTrust has payroll processing for $50/month..they calculate everything for you. All you do is enter gross wage. They print W2 at the end of the year etc...then you need to just get an WC and UE policy from an agent..a lot cheaper than 2% of gross

 

[Ryan Caras]

Paying per hour. Employee not Independent contractor. Hope the Workers Comp is in place.

Rick

yep
that one will hurt when you fire an agent and he says you didn't pay him correct on his commisssions

the DOL feels like this "if it smells like an employee its always an employee"

if you make them come and go at certain times your going to get in trouble

 

[FinalExpenseDojo.com]

Yep, way better tax advantages having employees as well.

 

[rousemark]

yep
that one will hurt when you fire an agent and he says you didn't pay him correct on his commisssions

the DOL feels like this "if it smells like an employee its always an employee"

if you make them come and go at certain times your going to get in trouble

I know that is the general rule of thought. But what if you contract with a private contractor to man your phones (or some other function) from 8:00AM until 5:00PM. You have set the times they must work,to meet the terms of the contract, do they automatically become an employee?

 

[VolAgent]

I know that is the general rule of thought. But what if you contract with a private contractor to man your phones (or some other function) from 8:00AM until 5:00PM. You have set the times they must work,to meet the terms of the contract, do they automatically become an employee?

From what you described, if the private contractor is an individual, almost certainly an employee. If it is a business, then a contractor.

 

[suranceman]

Yep, way better tax advantages having employees as well.

This is patently false. The savings you receive from the tax deductions is far far less than the additional expense incurred due to them being w2 employees.

This is like the *** progressives who say the charitable tax deduction is a tax deduction that favors the rich. The tax reduction you receive due to writing off the amount you gave to charity is WAY smaller than the amount of cash you donated. Anyone would have far more money in their bank account if they chose to not donate.

 

[VolAgent]

This is patently false. The savings you receive from the tax deductions is far far less than the additional expense incurred due to them being w2 employees.

This is like the *** progressives who say the charitable tax deduction is a tax deduction that favors the rich. The tax reduction you receive due to writing off the amount you gave to charity is WAY smaller than the amount of cash you donated. Anyone would have far more money in their bank account if they chose to not donate.

You had me until the end.

The charitable tax deduction does favor the rich, simply because they are more likely to give and also will structure their donations to maximize their deductions.

Yes, the premise is correct. A tax deduction simply mitigates the expense, it does not eliminate it. As you mention, by avoiding the behavior completely and paying the tax I would be better off financially.