Savings Example

Here is an example on how, as a business owner, you can maintain a competitive advantage when providing employee benefits by:

  • minimizing payroll tax burden
  • reducing wage-disparity between government and negotiated contracts
  • recruiting and retaining quality employees by providing benefits
  • increasing bid competitiveness and profits

 

  Davis-Bacon Act Service Contract Act
(A) Employees 10 100
(B) Hours / Year 2,000 2,000
(C) Hourly Fringe $12.00 $3.50
(D) Annual Fringe Paid A x B x C $120,000 $700,000
ANNUAL PAYROLL TAXES SAVED $30,000 (D x 25%*) $140,000 (D x 20%**)

 

Image*25% is a typical payroll burden including: FICA, FUTA, SUTA, Worker's Comp, and General Liability.
** 20% is a typical payroll burden including: FICA, FUTA, SUTA, Worker's Comp, and General Liability.

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