What’s the true cost of your labor? — Think it through before adding or subtracting
Abstract: Before either adding or subtracting employees, it’s important for construction companies to determine the true cost of each worker. Contractors need to look at expenses beyond just salary. And they need to bear in mind that there are costs in terminating employees as well as alternatives to hiring — such as engaging independent contractors instead of taking on more staff (though it’s important to abide by IRS rules). A sidebar lists the variety of payroll taxes an employer must keep track of.