8180 NW 36th St., Suite 301, Doral FL 33166 (305) 517-3977 info@ia.tax

lowering Worker's Comp. Premiums

In our experience, there are several ways for employers to lower their workers compensation premiums that they may not be taking advantage of, so we want to share these with you.  They are;

Structuring compensation packages:

  1. Bring your own device (BYOD) payments in lieu of compensation increases.
  2. Adding or restructuring medical/dental insurance plans when hiring or at annual review time.
  3. Are you section 125 compliant? Do you offer Flexible Spending Accounts, Dependent Care Assistance Plans or Health Savings Accounts?
  4. Travel stipends instead of pay increases, if applicable.
  5. Integrating a profit sharing plan with compensation increases.
  6. Employee Stock Purchase Plans and Restricted Stock Units (RSU’s).
  7. Inviting Key Employees into ownership or into a director role, so that an exemption for an officer is allowed.
  8. Making sure all officers of the company are excluded from coverage, if they are ok with that.
  9. Implement a drug free workplace and possibly save 5% of your premium.
  10. Implement a safety program and possibly save another 2% of your premium.

All of these suggestions, when put into effect properly will help you save $ on your workers compensation costs.

Mathew Shiebler, CPA

Matthew Shiebler, CPA is the President of Interactive Accountants, LLC a CPA Firm based in Doral. He is a licensed CPA in the states of Florida, New Jersey and New York and a member of the American Institute of Certified Public Accountants (AICPA). Since 1993, it has been his mission to help small and medium sized companies to comply with all their accounting needs. Whether it be taxes, finances or acquisitions and mergers, Matthew is well versed in all aspects. Matthew has unique experience in the hospitality and restaurant industries, law firms, medical practices, e-commerce, technology firms and start-ups. It is his passion to bring his experience and knowledge to all his clients.

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About Us

At Interactive Accountants, we have one primary goal. We help you minimize your taxes and measure your success. Throughout the years, we’ve helped hundreds of entrepreneurs by taking accounting matters off their plate, providing stellar ongoing tax advice and amazing customer support.

Contact Info

8180 NW 36th St., Suite 301, Doral FL 33166

(305) 517-3977