Workers Comp

nlgutters

does anyone have or know of a service that can take a certin amount out each week to match your payroll for workers comp. im sick of going over and getting hammered every winter

A W Smith

Sounds like you need premium financing

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Al Smith
http://www.awsmith.com

nlgutters

kind of. i just want a service that takes out what i owe the each week.

with my workers comp i have to prepay them like 8k for the year and if you go over your payroll they charge you. like this year i went over and had to pay another 4k and then 30 days later they send a bill for this years policy for 12k. i just want them to take it out each week so im always on track.

A W Smith

call your agent and ask if they can set up premium financing to spread payments over the year..

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Al Smith
http://www.awsmith.com

ruskent

I send my quaterly payroll statments to my agent every quarter and he gets me back on track.

Patrick

Its simply a matter of better estimating what you expect to pay out in a year. I cant, because we are growing, so I keep track roughly on my own and set the money aside. you CAN call your insurance company and they can re-evaluate it every three month's I think. IT sucks though because if you have a really good year, you have to pay out the extra for at least the first few months of the next year until they can re-evaluate.

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Originally Posted by Celtic
Like I said...I'm sure you are very good at what you do ~ whatever that is and where ever it happens.

CaliDesigns

When I first started my company, I used a payroll serviced that handled this, on a weekly basis just like my taxes. I still use them, but they just don't do the work comp thing anymore. It was right after 9-11 when they quit this. It wasn't there fault, no insurance co. would do it anymore. It is, now, just another pass through expense that any ligit company has to deal with.