Taxes, payroll, policies…oh my! If the thought of hiring your first few employees leaves your head spinning, the business attorneys of Michael L. Feinstein, P.A. can help put you at ease. With our business formation and consultation services, we can guide you through the process safely and confidently, thereby freeing up your time for more important matters – like growing your enterprise.
Whether you are ready to start hiring a staff or would like to ensure your current office protocol is meeting state and federal guidelines, we encourage you to give us a call today. The following are some of the most important aspects to consider before even embarking on the interview process:
#1: Taxes: Might as well get it over with from the beginning. Probably the most dismal aspect of hiring new help is dealing with the various taxation components inherent in bringing on a new staffer. You will need to develop a record management system for each employee’s earnings, including the amounts withheld from each regular pay. As an employer, you will be required to pay payroll taxes, as well as withhold both federal and state taxes from your employee’s paycheck. Don’t worry, we can help ensure you have filed the proper forms to appease the IRS, as well as calculated the proper withholding amounts for each worker.
#2: Eligibility: There are strict limitations on who can and cannot lawfully work in the United States. If your new employee is here on a visa, you may need to file certain paperwork with the appropriate agencies. Likewise, you will need to verify your employee’s citizenship, as well as perform a background check – especially if you are operating a particularly vulnerable business.
#3: Workers’ Compensation: Not every employer is required to maintain workers’ compensation insurance, however many are. Our business attorneys can help advise you as to your rights and obligations in this area.
#4: Employee Policy Manual: Probably the most important document you will need to avoid unnecessary conflict and litigation with your staff is the employee policy manual. We recommend the most extensive manual possible, addressing even the most remote or unlikely situations. At a minimum, your manual should cover sick leave, vacation, dress code, work hours, productivity expectations, grievance procedures and various other scenarios inherent in any business operation.
#5: Benefits: The health insurance field is burgeoning with regulations and requirements for employers. If you are a smaller employer, you can likely escape some of the penalties associated with forgoing the provision of health insurance for your staff. However, if you meet a certain employee threshold, it may be wise to consider your options between taking a penalty and offering coverage.
Contact Michael L. Feinstein, P.A. For More Information!
If you are curious about the employee hiring process and would like to speak with a reputable business attorney in Ft. Lauderdale, please contact attorney Michael L. Feinstein by calling (954) 767-9662 today.