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News from the Construction Suppliers Association

March 14, 2018

Sloppy Immigration Records and Missing Info Can Cost You Big

By Yeva Ducas, SHRM-CP
CSA Director of HR & Workforce Development

Yeva Ducas

Does your company have an extra $200,000 to spend on fines this year?

If not, you need to review your employee records for immigration compliance and make sure your processes with new hires are spot on. Incomplete or incorrect paperwork can cost you thousands, and the likelihood of facing an audit is going up.

A Georgia construction company was recently fined $228,000 for multiple violations. Many other industries are being hit with heavy fines as well. It is prudent to assume that building supply dealers are also at risk for audits.

What can you do?  READ MORE


Are You Using the New Federal Tax Withholding Tables?

U.S. companies should now be using new federal tax withholding tables as part of the new 2018 tax laws. The Internal Revenue Service released updated income-tax withholding tables for 2018 that reflect changes made under the Tax Cuts and Jobs Act in December.

Here is a link to more information about the new tables.

Here are two more links to the tables and an FAQ:


2018 HSA Contribution Limit Lowered

The 2018 contribution limit for health savings accounts linked to family coverage will be $6,850 -- not $6,900, as the IRS had previously announced.

The IRS recalculated the limit because the Tax Cuts and Jobs Act that passed at the end of 2017 applies the so-called chained consumer price index (chained CPI) to increases in HSA and a few other employee benefit contribution limits.

As a general rule, employees who contribute more than the allowed limit to an HSA and don't correct it, will be penalized with a 6 percent excise tax.

Also, the maximum amount an employer is allowed to exclude from an employee's gross income for an employer adoption assistance program has been reduced to $13,810.

For more information about administering these changes, contact Yeva Ducas at [email protected] or 470-512-1788.


2018 Georgia Legislative Session -- Update 4

By Katie Base Roberts
Director of Governmental Affairs
Fiveash Stanley, Inc.

katie roberts

The General Assembly was hard at work each day last week.  They convened for session and considered a small number of bills on Monday, Wednesday and Friday.  Tuesday and Thursday were reserved as committee workdays with more than 50 individual hearings during those two days. The deliberate work schedule is in response to a dwindling legislative calendar.  Only eight legislative days remain and procedural requirements, especially in the Senate, mean even less time remains for measures to come out of committee.

This week, legislators will be in session Monday, Wednesday and Thursday, ticking off another three legislative days.  Adjournment is scheduled for March 29.

2018 Election Qualifying
Last week, candidates for most of the state’s constitutional offices and all 236 seats in the General Assembly descended on the Capitol to pay their qualifying fee and officially register to run for office.

Numerous candidates qualified for each of the state’s constitutional offices, including nine to succeed Nathan Deal as Governor.  At the federal level, neither of Georgia’s U.S. Senators face reelection this year.  Of the fourteen Congressional districts, only John Lewis (D-Atlanta) escaped qualifying without a challenger.

In the Senate, three legislators have resigned their seats to seek higher office; at least another twenty-four face opposition in the Primary and/or General Election.  In the House, more than a dozen lawmakers will not return after the 2018 session.  At least 34 have an opponent in the May 22 Primary.

Here's a recap of the issues we're watching: 

READ MORE


Can Driverless Cars Disrupt Housing Starts Around Transit Hubs?

By Ely Razin, Contributor
Forbes Magazine

The introduction of a driverless vehicle option could make access to public transit less important to commuters. And that could have a major impact on the needs and demands of the buyers, tenants and renters of office and residential properties (whether single-family or multifamily).

With driverless cars, shuttles and buses thrown into the mix, offices and residential buildings that might previously have been seen as less attractive for commuters because of their distance from transit hubs could become more appealing than before. Seen through a real estate lens, that greater appeal could translate into increasing demand and rising property values.

The flip side is that properties that commanded high value due to their proximity to transit hubs could suddenly find themselves losing their edge.

READ MORE


10 Technologies That Are Changing the World

Futurists of the 1950s and '60s predicted that by the 2000s, flying cars and airborne robots would be a part of our everyday lives. Instead, we live in a world dominated by live streaming, smartphones and social networks.

While those forecasters didn't quite get the timing right, they got the technology right. Today, we are at the brink of another technological boom. This time, technologies like self-driving vehicles and robot assistants are under development. Soon, these -- and the other exciting technologies described below -- will go mainstream, changing the world in the process.

READ MORE


2018 CSA Annual Meeting Graphic



 

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