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7 types of insurance every business owner needs

Insperity

A business leader can’t eliminate all risks, but insurance can provide some cover should the sky begin to fall. Despite this, insurance is an area where owners often try to skimp on the type of insurance they pay for or the amount of coverage they choose. All states except Texas require businesses to carry workers’ comp.

Insurance 229
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The Coronavirus Aid, Relief and Economic Security (CARES) Act: An employer’s guide

Insperity

The Coronavirus Aid, Relief and Economic Security (CARES) Act is the $2 trillion federal stimulus package you’ve heard about in the media. Designed to address the economic and health impacts of the COVID-19 pandemic , the law provides relief for small- and medium-sized businesses facing unprecedented challenges. Eligibility.

Security 245
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How professional employer organization (PEO) pricing works

Insperity

Being an employer comes with many HR-related costs beyond the cash compensation you pay to your employees, such as: Payroll taxes (FICA, FUTA, Social Security, Medicare) Worker’s compensation insurance coverage Statutory insurance and paid leave programs (e.g., Small Business Administration. Administrative fees.

Payroll 247
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Tips and Resources to Scale Your Small Business

Success

“Every business has different startup costs, but they all have one thing in common: having a financial cushion,” says Bob Marshall, the business growth and strategy executive for the Small Business Development Group at Wells Fargo Bank. Small Business Administration (SBA).

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A return-to-work process after an extended employee absence

Insperity

Reduce costs associated with workers’ compensation , disability and medical insurance (if an employee can return to work faster). Consider implementing a remote work policy or program , which also involves having the right technology and appropriate security measures in place. Formulate a disaster or emergency preparedness plan.

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The Families First Coronavirus Response Act (FFCRA): What you need to know

Insperity

Together with the Coronavirus Aid, Relief and Economic Security (CARES) Act, also enacted by the U.S. Congress this March, FFCRA seeks to address the following stark realities: For many businesses, operations have ceased entirely or have been severely restricted in the wake of the pandemic. Small Business Exemption.

Insurance 242
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What are fringe benefits? What employers need to know

Insperity

Whether you’re a small business or a larger company, you want to do what you can to attract and retain top talent. This generally means FICA (Social Security and Medicare taxes) and FUTA (federal unemployment tax) are withheld and must be included on W-2s. For example, you can offer fringe benefits. What are fringe benefits?

Banking 255