Developments in Tax and Business
Construction Accident and Fatality Rates Fall
America’s construction sites are much safer than they were a decade ago,
according to the Associated General Contractors of America (AGC). The
organization announced the results of a new analysis that found a 38% drop
in construction safety incidents and a 47% decline in the construction
fatality rate since 1998. The AGC attributed the decline in accident and
fatality rates to the federal government's adoption of a safety oversight
approach known as "collaborative safety."
Combating Illegal Employment
U.S. Immigration and Customs Enforcement launched a new audit initiative on
July 1, 2009, that attempts to identify employers that don't comply with
employment eligibility verification laws by auditing selected companies' I-9
forms.
The High Cost of Employee Absenteeism
Just how costly are unauthorized employee absences? A survey from consulting
firm Mercer, The Total Financial Impact of Employee Absences, found that the
average total costs of incidental unplanned absences amount to 6% of
payroll. The survey also found that incidental unplanned absences result in
the highest net loss of productivity per day -- a decline of 21% compared to
15% for planned absences and 17% for extended absences.
Work-In-Process is provided by
Somerset for our clients and other interested persons upon request.
Since technical information is presented in generalized fashion, no
final conclusion on these topics should be made without further review.
For additional information on the issues discussed,
please contact
Ken
Hedlund,
Jay Feller,
Steve George,
Chris
Mayfield or
Rebecca Ogle
of our
Construction & A/E Team.
This document is not intended or written to be used, and cannot be used,
for the purpose of avoiding tax penalties that may be imposed on the
taxpayer.
Somerset CPAs,
P.C.
3925 River Crossing Parkway, Third Floor
Indianapolis, Indiana 46240
317.472.2200 • 800.469.7206 • FAX 317.208.1200
www.IndianaConstructionCPAs.com
info@somersetcpas.com
