Who pays for the Affordable Care Act?
Posted on February 25th, 2014 Read time: 1 minutes
Lately, the question many staffing firms have been asking, according to The Staffing Stream, is whether the firm or the customer should pay for the compliance costs associated with the Affordable Care Act. Don Dewar, who works for Sync Staffing, believes staffing firms should bill customers for ACA compliance without adding markups. Although that is one way of paying for ACA costs, other companies that operate as employers of record do away with this added expense by paying for ACA compliance themselves and dealing with all issues that arise from being the official employer of the temp worker.
According to CPA Practice Advisor, a website for practicing accountants, freelancers can work through an employer of record and be considered the W-2 employees for the staffing firm, rather than the company that hired the freelancer. This takes away the impact of the ACA on companies that want to expand their business and are wary of any additional costs associated with the new laws.
According to the Semi-Annual U.S. Insurance Labor Outlook Study, 62 percent of companies plan to increase their staff in 2014. This is the highest number yet recorded in the history of the survey. This unparalleled growth will naturally lead to compliance and tax issues. Temporary workers and staffing firms can solve many of these issues.
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Posted on February 25th, 2014 Read time: 1 minutes
Lately, the question many staffing firms have been asking, according to The Staffing Stream, is whether the firm or the customer should pay for the compliance costs associated with the Affordable Care Act. Don Dewar, who works for Sync Staffing, believes staffing firms should bill customers for ACA compliance without adding markups. Although that is one way of paying for ACA costs, other companies that operate as employers of record do away with this added expense by paying for ACA compliance themselves and dealing with all issues that arise from being the official employer of the temp worker.
According to CPA Practice Advisor, a website for practicing accountants, freelancers can work through an employer of record and be considered the W-2 employees for the staffing firm, rather than the company that hired the freelancer. This takes away the impact of the ACA on companies that want to expand their business and are wary of any additional costs associated with the new laws.
According to the Semi-Annual U.S. Insurance Labor Outlook Study, 62 percent of companies plan to increase their staff in 2014. This is the highest number yet recorded in the history of the survey. This unparalleled growth will naturally lead to compliance and tax issues. Temporary workers and staffing firms can solve many of these issues.
