This information was gathered from my readings in the internet. I have compiled what I consider the best narrative explanation summary of the Workers Compensation Law. I f you have any questions or situation related to this matter, please consult legal counsel.
The State of Florida in an effort to raise funds created a whistle-blower website that was launched in June 2009 and has raised over $500,000 in penalties since inception to companies not carrying workmen compensation coverage. Two stop work orders have been issued for two employers in Palm Beach County and eight in Miami-Dade County.
Workers' compensation is a state program requiring employers to have an insurance policy covering employees for work-related injuries. Should an employee be injured on the job, the employer or the insurance company will provide payments for medical care and lost wages due to the injury. Though the employer (not the employee) pays the insurance premium, the cost of workers' compensation is ultimately passed to the consumer in the form of higher prices for goods and services.
Workers' compensation is a state program requiring employers to have an insurance policy covering employees for work-related injuries. Should an employee be injured on the job, the employer or the insurance company will provide payments for medical care and lost wages due to the injury. Though the employer (not the employee) pays the insurance premium, the cost of workers' compensation is ultimately passed to the consumer in the form of higher prices for goods and services.
If the employer or the insurance carrier refuses to pay for medical care, lost wages or other matters, an injured employee should call the Division of Workers' Compensation The Division of Workers' Compensation will attempt to remedy the problem through an informal resolution process. However, if that does not work, the employee will have to file a claim for benefits. If an injured worker has not yet consulted an attorney, it would be wise to do so at this point. Properly filing a claim can be complicated and mistakes may threaten a worker's right to benefits.
If both parties refuse to settle the dispute, a hearing will be held before a judge of compensation claims. At the hearing, both sides present their cases and the judge has 30 days to render a decision. The judge has the authority to require the losing party to pay the winner's court costs, including attorneys' fees. Appeal of the compensation judge's decision must be directed to the First District Court of Appeal in Tallahassee.
Employers are prohibited from discharging or threatening any employee for asserting a valid claim for workers' compensation benefits. However, employers are not required to hold an injured employee's position until they can return to work.
A final point: filing a false claim for workers' compensation benefits is a third degree felony and has serious consequences.
José F. Padró, CPA.
padrocpa@padrocpa.com
http://www.padrocpa.com/
PADRO and Company, P.A.
The information at this Site has been provided by José F. Padró , CPA. for general information purposes. It does not constitute legal, accounting, tax or other professional advice or services and is presented without any representation or warranty as to the accuracy or completeness of the information.
Wednesday, September 23, 2009
Sunday, September 13, 2009
Should I invest in my Traditional IRA, this year of so much uncertainty ?
My answer is YES,YES, YES, the best provision of a Traditional IRA which is the tax-deductibility of contributions is a good reason to consider making your investment this year. Today’s shaky state of our economy and the instability of the financial markets is a consideration, your retirement plan should be based on long-term investing goals and must continue.
While in the Traditional IRA, transactions in the account, including interest, dividends, and capital gains, are not subject to tax, withdrawals from the account, are subject to federal income tax and 10% early retirement penalty, some exceptions apply.
Please remember that you have until April 15,2010 to make your IRA Contributions for the tax year ended December 31, 2009.
Perhaps in times of economic uncertainty, the Traditional IRA funds might be placed in a more conservative investment vehicle not so reliant on the volatility of the stock markets. Be sure to consult a trusted financial advisor for information based on your individual needs.
José F. Padró, CPA.
padrocpa@padrocpa.com
www.padrocpa.com
PADRO and Company, P.A.
The information at this Site has been provided by José F. Padró , CPA. for general information purposes. It does not constitute legal, accounting, tax or other professional advice or services and is presented without any representation or warranty as to the accuracy or completeness of the information.
While in the Traditional IRA, transactions in the account, including interest, dividends, and capital gains, are not subject to tax, withdrawals from the account, are subject to federal income tax and 10% early retirement penalty, some exceptions apply.
Please remember that you have until April 15,2010 to make your IRA Contributions for the tax year ended December 31, 2009.
Perhaps in times of economic uncertainty, the Traditional IRA funds might be placed in a more conservative investment vehicle not so reliant on the volatility of the stock markets. Be sure to consult a trusted financial advisor for information based on your individual needs.
José F. Padró, CPA.
padrocpa@padrocpa.com
www.padrocpa.com
PADRO and Company, P.A.
The information at this Site has been provided by José F. Padró , CPA. for general information purposes. It does not constitute legal, accounting, tax or other professional advice or services and is presented without any representation or warranty as to the accuracy or completeness of the information.
My Point of view about the Banking Industry
Last week a banker friend ask me what do you think about our industry. I firmly believe the banking industry is the tool that safeguards and control the flow of money. I believe there are two different banking industries, the retail banking and the investment banking. The banking industry changed drastically after Sandy Weill and Travelers purchased Citibank and created Citigroup.
This merger joined two totally different philosophies, the safeguard of assets and the Risk of Investments. Cross-selling became a way of life, inviting banking clients to become part of the riskier philosophy of investing and facilitating also insurance industry products. This action created a new industry were greed and short term goals destroyed the confidence that the as the banking industry.
Banks should safeguard their customers money and not offer products that could, if something goes wrong, create losses that many times can not be recovered. A banker should be a banker, an Investment consultant should be an invest consultant and an insurance salesman should always be an insurance salesman. The Interest of these three industries are not the same and because of this, they should never be together.
The banking industry should recognize the safeguard of the assets and the facilitation of money as their main objective because once money is lost is gone forever. Millions of Americans have lost fortunes due to these confused and intermingling actions taken by these banks.
Reviving prudent lending practices by banks who know their borrowers is a must. In the good old days bankers knew their customers and they had hands on involvements in their clients.
I read in Forbes magazine August 2009 Publication that Mr. Paul Volcker, the revered former chairman of the Feds endorses a two-tier system that tightly regulates commercial banks that take deposits and make loans, while giving considerable leeway to security firms that engage in riskier activities such as trading.
This is a sound idea and should considered during the new banking system reform
José F. Padró, CPA.
padrocpa@padrocpa.com
www.padrocpa.com
PADRO and Company, P.A.
The information at this Site has been provided by José F. Padró , CPA. for general information purposes. It does not constitute legal, accounting, tax or other professional advice or services and is presented without any representation or warranty as to the accuracy or completeness of the information.
This merger joined two totally different philosophies, the safeguard of assets and the Risk of Investments. Cross-selling became a way of life, inviting banking clients to become part of the riskier philosophy of investing and facilitating also insurance industry products. This action created a new industry were greed and short term goals destroyed the confidence that the as the banking industry.
Banks should safeguard their customers money and not offer products that could, if something goes wrong, create losses that many times can not be recovered. A banker should be a banker, an Investment consultant should be an invest consultant and an insurance salesman should always be an insurance salesman. The Interest of these three industries are not the same and because of this, they should never be together.
The banking industry should recognize the safeguard of the assets and the facilitation of money as their main objective because once money is lost is gone forever. Millions of Americans have lost fortunes due to these confused and intermingling actions taken by these banks.
Reviving prudent lending practices by banks who know their borrowers is a must. In the good old days bankers knew their customers and they had hands on involvements in their clients.
I read in Forbes magazine August 2009 Publication that Mr. Paul Volcker, the revered former chairman of the Feds endorses a two-tier system that tightly regulates commercial banks that take deposits and make loans, while giving considerable leeway to security firms that engage in riskier activities such as trading.
This is a sound idea and should considered during the new banking system reform
José F. Padró, CPA.
padrocpa@padrocpa.com
www.padrocpa.com
PADRO and Company, P.A.
The information at this Site has been provided by José F. Padró , CPA. for general information purposes. It does not constitute legal, accounting, tax or other professional advice or services and is presented without any representation or warranty as to the accuracy or completeness of the information.
Subscribe to:
Posts (Atom)