Thread: First Hire
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Old 08-14-2012, 07:10 PM
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GreenI.A. GreenI.A. is offline
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Quote:
Originally Posted by cutman2000 View Post
I'm looking to hire someone part time to help me out. Are these all a must?

#1. Obtain a Federal Employer Identification Number (FEIN)
#2. Register with your State Labor or Employer Division
#3. Obtain Workerís Compensation Insurance (if required
#4. Post an "Employee Poster" as required by Federal and most State Governments


I'm looking for someone to help me part time, but I'm wondering if I should pay "under the table" until I get more established. What am I looking at, as far as fees($) for the list above(#1, #2, #3 and #4).
At the moment, my business name is registered(LLC) with the state. I'm insured(liability 1 million). No worker ins.
1 -YES, the IRS says any company with employees must have an EIN $FREE

2 - I Don't Know about your state, $FREE

3 - Again depends on the State. Here in MA, a company must carry WC on all employees. Having WC on the business owners is optional, but most contractors will require it of subs as well as most commercial properties and HOA's will require it as well $ varies from state to state, insurer to insurer, and by type of work you do. WC is also based off of the amount you pay your employees/the hours they work

4 - Answered your own question didn't you? The signs need to be in a spot that is regularly seen by employees. For our industry, hanging signs in the shop should suffice, particularly if their is a spot where the employees go in the shop regularly. $50+-, a lot cheaper than the fines if you are caught without these.
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