Freelancer or Employee?
What are the consequences of being caught and having a freelancer reclassified as an employee? Answer: Your agency is responsible for both the employee and employer FICA amounts (currently 15.3% of gross wages); FUTA amounts (currently $56 per year per employee); and Federal Income Taxes (approximately 20% or gross wages.) Your agency is also responsible for penalties and interest on these amounts. AND the IRS may also bring in the State adding the responsibility for State income taxes, State unemployment taxes and worker's compensation. Legally, your agency may also be required to support an employee for the remainder of their life should they become injured in any way while working for you.<< MORE >>
But, That's Just Me...
Stick a fork in 2011, folks, it's done. Is that a good thing for you, or... not so much? Did you meet the goals you established for yourself (TELL me<< MORE >>
What Other Agencies Do - Tip #20 - Be Organic
There are 2 ways to increase billable hours: 1 – acquire new clients 2 – grow your current client revenue base Having worked with over 600 agencies, I have observed both philosophies. However, there is a noticeable difference in the<< MORE >>
I Had a REALLY Bad Cold...Call!
Today we received a call at our offices that my Partner Bart answered. The caller had asked for me, but since I was not available, Bart asked if there was something that he could help the caller with. The caller went on to explain that he was offering our company the opportunity to utilize an assessment tool that we could use to help our clients make the right talent selection decisions. We help Agencies become more productive and profitable. << MORE >>
What Other Agencies Do - #19 - Progress Ahead!
On the heels of Wells Fargo, Bank of America announced yesterday that it will now charge $5/month for a customer to use their debit card. I am<< MORE >>
What Other Agencies Do - #18 - Start Stopping
Charles Darwin said, “It is not the strongest of the species that survives, nor the most intelligent. It is the one that is the most adaptable to change.” The hardest type of change is stopping behaviors that have become habits. Here are 5 Stops that will help you grow your agency and become more profitable and less stressful.<< MORE >>
Size Really Does......NOT Matter!
One thing I have learned from my many years in business is that everything happens in cycles. The second thing I have learned is that there is always a driving force behind the cycles. AdWeek ran an article last week explaining how high-budget marketers are now leaving their current small agency.<< MORE >>
What Other Agencies Do - #17 - Bundle – Adding Value to Your Agency’s Services
These days, any advertising for telecommunications or insurance companies use the word “Bundle” repeatedly. The real message here is the value of using the same company for multiple but related services. Successful agencies offer the same value<< MORE >>
What Other Agencies Do - #16 Recognize the Difference between Cash Flow and Profit
Too many agency principals think that just because they are getting checks for their work they must be profitable. The fact is, they are losing money—even though they have cash in the bank. Successful and highly profitable agencies << MORE >>
What Other (In-House) Agencies Do #15 - Act The Part
Yet many in-house studios are not at the top of the list as ... << MORE >>
