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Video instructions and help with filling out and completing How to calculate fringe benefits for davis-bacon
An accent fringe solutions group we get asked all the time what it is we do exactly and the simple answer is we help se a government contractors improve their businesses how do we do that through better fringe management so sit back and take a look at the hidden advantages you can gain by changing how you deal with your fringe benefits profitability is something that every contractor thinks about but due to some changes in government policy in the overall cost of benefits going up profitability is getting harder for SCA contractors and we know many out there who are looking for ways to combat these changes in the market so what we mean by hidden advantage is that by changing how you handle your compliance and then using some unique strategies to maximize your fringe spend you'll produce profitability as a byproduct of those changes so we're gonna look at the three big issues facing contractors and fringe benefits and then show you how Aksum solutions not only fix those issues but lead to better profits on SCA contracts first off most government contractors to tell you that compliance reporting is a tedious job at best what they might not know is that the Department of Labor has gotten really strict about how well that tedious job is done so let's take a look at the compliance issues facing SCA contractors today and if I were to sum up all of those issues in just one word that word would be more more finds more suspensions more debarments than ever before more resources devoted to DOL investigations and more consideration given to future contracts against people who have DOL violations and it's not like government contractors have a really good record of being in compliance despite most of them having compliance systems less than one in four were found to be in compliance in 2022 alone meaning they were assessed fines and limited for future consideration so not only should you be asking yourself is my compliance system one of the seventy eight percent you should also be considering what if there was a no-cost way to make sure this never happened to me the second issue facing contractors is the use of cash fringes a popular policy for a long time but now one that the federal government is really trying to discontinue and so we can help contractors who are doing cash fringes move to it and plan and that's partly because cash fringes are very expensive to contractors when that benefit money is converted $1 along with it comes the tax burdens that employers have to pay upping your cost for benefits and limiting your contract profitability and with that additional expense also comes an additional risk see part of the Affordable Care Act or ACA is to phase out cash instead of paying benefits to employees so by providing cash fringes you might not only violate the ACA that violation may lead.