The Consequence Of Misclassifying Workers

Small businesses have learned to survive in today’s challenging world by hiring freelance or independent contractors to do specific jobs that the business can’t do. Instead of hiring a full time employee, they just outsource the job to help them save more. There are now a lot of workers who are considered to be independent contractors and sometimes they are misclassified. This misclassification can lead to unwanted consequences for your business so you should know how to classify them properly.

What Is An Employee
The government says that an employee is someone that the business or company can have control over his or her behavior at work. The company will determine how he should perform the task assigned as well as the place and time of work is. The business or company is also able to control how the employee gets paid or if any expense he makes gets reimbursed or not. Lastly the employer is also able to have a working relationship with the employee even after a particular job is done. Sometimes, employers get confused because the contractor fits the guidelines and the contractor can even work for 40 hours in a week for that company even if they are just an independent contractor.

Independent Contractors VS Employees
Independent contractors are the ones who make use of their own tools or materials to do the work. They only have a temporary work and are paid with a flat fee. They are also not eligible for unemployment benefits or other worker’s compensation. On the other hand employees are the ones that are paid regularly for guaranteed work and they receive benefits from their employers such as vacation pay, insurance plans, and many others. They can also be provided with training and they work in a defined workplace.

The Misclassification
The government thinks that there are many misclassified as a independent contractor rather than an employee because of the taxes and benefits. There are also others who don’t misclassify their employees intentionally but the financial and legal consequences are still the same. Even if you opt for a payroll service solution to help you out with the computations for the tax, benefits, and other things that affects their paycheck, you as the business owner still have the responsibility of classifying your employees so that they get the right paycheck at the end of the month. Your business could be charged for reimbursement of unpaid wages, employee benefits or insurance, back taxes, income taxes and many others. In addition to this, you can also be penalised too.

For those who still can’t determine if they have a contractor or an employee, you should ask for help. The agency in charge of the taxes can help you classify your employees so that you can prevent future expenses or penalties from going your way. It is not enough for you to assume the classification of a certain worker because a wrong one would lead you into consequences that can affect your business. There is also no excuse for the misclassifications because they will still give you penalties and fines even if you didn’t misclassify your workers intentionally.

Get a Debt Consolidation Loan

Debt consolidation is one of the best ways of managing your debts. Consolidating your debts is one of the best ways to get a lower interest rates on your debts and this could save you a lot of distress as a result. Before you do any debt consolidation, it is important to ensure that you your new loan will have a lower interest rate. You should consult your finance adviser and see whether debt consolidation is the best option for you given your current debt situation. At least, debt consolidation is a nice way of stopping high interest rates. Luckily, many online electronic payment/debt management systems let you manage your entire consolidation loan directly with ease exist and you should take advantage of them.

Try to get off the credit card treadmill
Credit cards can land you into a financial mess just as they have done to countless South Africans. Never make the mistake of overusing your credit cards and piling a lot of debt because the interest charged is normally higher than the normal bank loan. If you have credit card balance, you should ensure that you are not making the minimum monthly payments as this would mean that you are only paying the interest and leaving the interest to continue piling the debt. In the end, you will be dismayed when you realize that you are making perpetuity payments. Another thing to be weary of is missing payments or exceeding the card limit. So these are the two most important things one should be careful about when dealing with credit card debts. If you fail to manage the credit card debts, things might get out of control.

Avoid bad credit
Having a bad credit is your worst enemy when it comes to seeking debt consolidation. Most lenders will look at your credit rating before they consider giving you a consolidation loan. You should therefore understand the importance of maintaining the best credit possible. Lenders want to reduce the risk of default as much as possible and that is why you may want to consider improving your credit score before you approach your lender for debt consolidation support. In other words, you credit score definitely affects your loan. If you are not sure of your credit score, ask the experts to show you how.

It is important to note that the average lender does not require a perfect credit rating, thanks to the massive completion in the lending industry. In fact, some lenders are very lenient when it comes to looking at your credit history. However, to be on the safe side, always ensure that your credit rating is above average.

Please talk to your lender if you have a series of debts (or credit card debts) that needs to be paid and discuss the possibility of getting a consolidation loan. Your lender will offer your tips and advice on how to manage the loan including offering you a consolidation loan.

GPA Calculator Review – Does GPA matter in College?

High school students strive hard to obtain a high grade point average (GPA) knowing that it is considered for college admission. SAT scores and GPA are used by colleges to determine academic excellence. Generally, scholarships and grants also consider GPA for financial aid qualification. For example if the requirement includes a GPA of 3.8 reviewers would hardly bother considering applications with 3.7 GPA if there are many applicants that meet and exceed the criteria. For more information, visit GPA calculator review.

The true significance of GPA
The importance of GPA does not end when you are admitted to college and approved for financial aid and scholarships. Academic performance is a consistent consideration because there are requirements to maintain or exceed GPA so as not to lose the financial aid package provided through federal or state scholarships and grants. It is a common requirement to maintain a maximum of 3 and a minimum of 1.75 GPA for any type of assistance. This is the method with which academic progress is tracked and if you allow your GPA to go below the minimum, it may mean an end to your pursuit of a college course. On the other hand, there are financial packages that do not consider GPA but the capacity to fund a college education. This includes the Stafford loans, Pell grants and the majority of discounts that are being offered by schools to reduce the sticker price. Still, GPA will be the consideration for admission.
How important is GPA in college?
GPA matters in college if you intend to pursue a graduate course after completion of the 4-year course. Admissions committees will also take a look at your GPA if you are planning to go to medical school which requires that you keep good grades in your courses. While employment is not dependent on GPA, it can be used as a consideration when weeding through a stack of resumes. Your academic performance remains a factor in being able to land an interview and eventually a good paying job. A report by US News & World Report reveals that majors like science, technology, engineering and mathematics get the lowest GPAs because they are more academically challenging. On the other hand, arts and humanities, English, music and languages make it easier to get higher GPA because the course is often subjective. Having a high GPA can also enhance your confidence knowing that you have made good while in college and you have managed to overcome all the challenges.
Not all employers in the job market consider GPA but it won’t hurt to include your GPA in your resume particularly if it is impressive. However, GPA is not the only criteria for employment, since employers usually consider work experience, internships and your suitability for a specific position. Most positions that are offered today are geared towards engineering and technology and employers hardly consider GPA because such majors are academically demanding. Employers understand that applicants come from different circumstances and many need to work part time to fund their education but they expect you to have relevant experience like internship.

How To Start A Company

Having a business might be great and all but there are a lot of things that you have to take into consideration first before you would have one that’s successful. To start a business or a company of your own, you have to have a spot where you could do operations and then have some people working for you first. That’s because you would only be able to cater to a lot of people when you’ve got a facility where you could produce items and literally serve people. Also, you’ve got to make sure that the business that you’d put up would be legal as well. Once you’ve covered these things, you would then be able to really do business.

Having money is important so you’ve got to have some for capital. When you do not have capital yet have the will to do business, you could borrow some money from a bank or a lending institution. However, in having a loan, you should have the capacity and the mindset to pay up eventually or else you’d be in deep trouble. Of course, when you have the money in your hands to start your own company, you should be wise when you spend.

Having a place for business can be great and all but you’ve got to make sure that the space that you’d choose is accessible and conducive for work. You should search for a location where the environment and climate condition is good and you should also select a commercial space where you would be able to literally attract customers eventually as well.

If you’ve got the money for it, you should purchase commercial estate instead of renting a business space so that you would not have to deal with rental fees later on and so you would have the privilege of being able to do whatever it is that you want to do to your workplace.

Once you’ve already got a place of your own, you should then invest in the tools that you need to become productive. That’s because you need to provide the people who would be working for you with equipment for production and service.

Depending on the type of business that you’re going run later on, it’s important that you get supplies that would let you take on and finish tasks efficiently and effectively and not merely those that are of average quality. After you’ve bought tools like machines, you should then find some people who’d be willing to work for you.

You could first try to look for a human resource manager so that you would be able to recruit people, manage them and make sure that they are provided for with your resources. To look for an HR manager, you could try to post ads where you could and then make sure that you only accept those that know how to deal with recruitment, employee engagement plus compensation and benefits. When you do employ one, however, it’s best that you should get the help of someone who knows about cash balance plan administration details.

Bookkeeping Agencies

Among the many accounting firms that exist today, there some agencies, that specializes in accepting the outsourcing of bookkeeping duties and payroll management from other businesses. Any business owner can today look at bookkeepers reviews to find one of these agencies that may suit their needs and is located close to them. These agencies obviously charge a fee but their fees are often reasonable considering that a business will be saved the need of training staff in what can be at times, a very complex procedure. It also eliminates the need for a business to have additional staff trained in case of any absenteeism or illness, as once an agreement has been signed, the agency must ensure that the relevant bookkeeping is undertaken or that the payroll is completed in a timely fashion, one that complies with the employee’s expected pay day.

These can be a huge relief for a business owner as, although the complicated filling in of records, ledgers and journals may seem basic to an accountant, many business owners find them a little confusing, plus a guarantee that employees payroll will be completed on time, is always a welcome a relief.

These agencies employ only fully qualified staff and so they are all capable of completing bookkeeping to a satisfactory standard or managing a payroll in an equally competent manner. The agencies will usually be managed and supervised by experienced, qualified accountants and so they will ensure that their staff can provide any information that the business’s accountant or owner may ask for. As they are experienced, they will also know of any criteria that the government considers essential and are familiar with the requirements of auditors and so can advise and assist any business at these specific times.

As mentioned, these agencies obviously charge a fee but how their fees can work out to be cheaper is because they can offer bookkeeping on an hourly, daily or weekly basis whereas a business, would probably have to have a full time employee, complete with their wages and benefits, to keep the books. In the case of payroll, the agency will probably charge a fee on a per head basis, thereby the less employees a business has, the less they need to pay.

One of the distinct advantages that outsourcing these particular branches of accounting offer, especially to a new business, is that they can easily adapt to any expansion that may take place in the business. As the business grows, they can step by step increase the number of hours that they require the bookkeeper for and as far as the payroll management is concerned, as their number of employees increases, so does the charge made by the agency increase. Neither of these expansions needs to involve any disruption to business, allowing a smooth transition to larger sales.

These agencies are experiencing an increase in customers and as these increases continue, so does the number of agencies offering these services increase. This means that today, a business owner should fid several agencies near them that they can choose from.

How to apply for business loan

Whether it is improving the scope of a present business venture or starting an absolutely new project- financial aid is a necessity. One can not bring more than a specific amount of partnership virtue or sponsorship for the business and hence there is a need for the business loan extended by the banks.

For getting a successfully welcomed loan and to first of all apply for it in the correct manner, you need to keep certain things in mind about the review and application process so that you do not get rejected and are handed over with the required financial aid.

1. Gather the main documents. Without proper documentation, you can not even file for the loan, let alone apply for it in the final stage. Thus, there is a certain set of documents that should be ready with you if you do want to get a successful loan. These important documents are:

Credit and financial statement of the past 3 years that would include expenses, profits as well as past loan records and reviews. Credit and loan statement for the past 90 days to check the present condition of the applicant. Address and identification proof to check the citizenship and the credibility of the existence of the borrower. No one would give money to a person who is not even mentioned in the official records. Next, get your past loan review that would help the present money lender help in knowing that you actually do intend to return the money in time without causing loss to any party.

2.Next, going by the industry standards, get a review of your project done and duly submitted to the bank authorities so that they can check the financial credibility and future scope of your project, Apart from that, they also need to do their own feasibility study of your business or project to know if it would really be profitable or just turn out to be a money drainer.

3. After the review and feasibility study has been done, it would be good for you take on the next step of writing an executive summary. Just like a job letter has a cv, the loan letter would have an executive summary or a ES. The executive summary introduces your highlight details to the concerned authorities and reviewers along with the manager.

4. Write a credible proposal and submit it to the bank manager and the concerned authorities in the right time. The proposal of the loan shall contain almost everything the bank wants to know about you and your objectives. Apart from the details and the documents that are being handed over to the bank, you also need to mention as to why out of the thousands of loan applications, the bank accept yours and give you a chance.

Following these certain steps will definitely land you with financial aid into your hands. Loans and package deals depend on the nations as well as the states. Therefore, it would be better to hire a professional who can guide about that region. If you happen to be in Singapore and need aid, hire a professional for business loans singapore advice and get going with the application process.


There’s no doubt about it, we all get confused and irritated when we are searching for a particular book in a big library, and that’s a real fact. Technically, we manage to find books which are not really suited to what we are looking for. It’s a reality that all the authors in the world claim to have the right information written in their books. We’ll we don’t really care about it if your not into that particular kind of stuff. As long as you find the thing you’re looking for in it, well it’s not really a big deal.

But today, growing numbers of publications and physical references throughout the globe are still growing on a steady pace, and so we welcomed the online reference. It’s like a big library archived on a single or multiple servers. You just simply sit, relax and enjoy your coffee while navigating though the web. It’s now basic a necessity that online reference should exist.

Now you might think that physical references are nothing compared to the digital references you have on the web. It’s not that kind of waste since the library archives are well preserved and traditional researchers and readers would enjoy giving their effort to go to the library and do their routines and hobbies. For more information about online reference and tips, you can go ahead and watch the video below, enjoy!