Here Ye

July 23, 2015

Hear ye…. Hear ye… Hear ye……

This is to serve as notice

To all businesses in the State of New Jersey…..

Your new unemployment rates have just been mailed
By the State of New Jersey

You should be receiving your new rate notice….. Any day

Note:
All business owners have 30 days to question the new rates
you have been assigned

This is as good a time as any to verify…….

Is our new Unemployment Rate correct?

Unemployment…

Is the 2nd highest Employer Mandated Tax

By the US Government

 

Yet, people know so little about it

 

It is the only employer tax that can be controlled

 

Did you know that each claim can be worth up to $16,000????

 

Unemployment…..

Is like having a checking account with the State

 

Each year, at this time, the state sends you a notice

 

In NJ, it is called the

Employer Contribution Report

 

This report tells you…

How much money you had in your account at the beginning of the plan year

How much money you paid out in claims during the year

How much money you deposited into your account during the year

How much money is left in your account now….

 

It then goes thru a calculation based on the numbers listed above

 

As to what your new rate will be for the next 12 months

 

This new rate determines the funding level needed

To meet future claims

 

What is your rate????

 

Is your rate high or low????

 

Did your rate go up????

 

If so…You got a tax increase……

 

How do you know if your rate is correct????

 

That last question is the one question

All business owners should be asking

 

Especially if you have over 100 Employees

 

When there is a mistake in unemployment

The mistake is not on just 1 employee

It is the all factor

 

A mistake effect all your employees

 

That means the State may be taking more money

Out of your account than they should be taking

 

Remember….This is like a checking account

 

Would you miss money…..

If it was taken out of your personal checking account????

 

Who is holding the State accountable????

 

We are

 

HBS works with many established clients

Who took the time to ask the question

 

Is our rate correct????

 

Boy were they surprised…..

When we found there was a mistake

 

We went back to the State

 

Corrected the error

 

And our client received a refund

 

We are always asked how did you do that????

 

That is what separates HBS from all others

We know where to look

 

Many of the cost we work with

Most businesses take for granted

As the cost of doing business

 

Did you know……..

The state has over a 12% error rate

In the payment of unemployment claims

 

Once again…..

 

They are taking money out of your account

And they are not being held

Accountable

 

That is reason enough to ask the question….

 

Do you think you can look at our

Unemployment rate????

 

Is it correct??????

 

To learn more

Give us a call

 

We offer a free consultation

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Overpayment of employment taxes happens more than you think.

Prepare for a merger, acquisition, divestiture or restructuring
As part of planning for anyone of these major events, one needs to consider the employment tax consequences of these events.  Your range of rights and options to optimize your employment tax account are influenced by the timing of the event and what steps you take in advance to secure your rights.  Steps you make in corporate structure can have a tremendous effect on your employment taxation.  Analyze your options up front and execute the appropriate strategy to optimize your taxes.

For the above strategies, your state (NY 888-899-8810 / NJ 609-292-1730 / CT 860-566-1018) and/or federal agencies are available to help you better understand how these issues may influence your specific accounts.  As there are many areas of nuance in this area, please make sure to consult with a field specialist to make sure you are in compliance and correctly positioning yourself to generate cash refunds and lower tax rates.  Through strategic employment tax practices, you can improve your “asset” value of your unemployment reserves and strengthen your “cash flow” from refunds and reduced taxation.

Our Perspective:

Hutchinson Business Solutions is an independent broker that specializes in corporate financial solutions. We have worked with many corporations who recently went thru a merger or acquisition.

Did you know that the US Department of Labors states that companies who fit this profile have a 50% chance that they have been assigned the incorrect rate and that they may be overpaying unemployment taxes?

To learn more email george@hbsadvantage.com or call 856-857-1230