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Local Wages

Last activity 11 November 2024 by om2252001

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gainkeeper

I'm considering hiring a local to work for me and my business. This person would be responsible for inventory control, product deliveries (my vehicle, insurance and gas), collecting payments due from merchants, making bank deposits and receiving and tracking new orders using my website, app and Microsoft Excel. What would be a fair wage to pay someone? Would someone expect me to offer any benefits?

UncleBuck

@gainkeeper If you are not going to be working at the business every day, alongside your employee(s), this will not work out well for you and your business and customers. That being said, minimum wage for a micro business is $14,250 RD monthly. You also need to pay TSS, INFOTEP, healthcare, several DGII taxes, and more. If you are not thinking of being a "legal" business, DO NOT hire any employees. You open yourself up to so much liability and potential abuse. For context, I am a small business owner with 6 employees who get paid more than double the minimum. It is not for the feint of heart.

planner

This is correct!  Employees need to be legally registered and all taxes paid. For that you need a corp!


What's a fair salary?  That's a lot of responsibility for one employee. And who is supervising?  If they drive your vehicle you can be held legally liable!

gainkeeper

Thanks for your replies. What are TSS, INFOTEP, healthcare, and several DGII taxes?

UncleBuck

@gainkeeper They are the payroll deductions you need to make to the government.  You deduct some from your employee(s), and some you pay entirely.  It is not a simple question, you had better speak with a lawyer, bookkeeper and accountant before you make any decisions.

planner

It is a stupidly complicated system

Your.corp needs to register your employees in multiple systems that then must be maintained.

Monthly you pay multiple taxes.  Employer pays about 15% and employee about 5% that you withhold and remit. Those are payroll taxes.  Then infotep is 1% of payroll you pay.

Income tax you withhold and remit as well.

om2252001

If you are not hands on, unfortunately the employee will find a way to steal. I knew of someone many years ago that was producing men’s slacks here(Dockers the brand was being produced here). For the internal market, He was not hands on, the person running his factory was also running a production line for himself, Meaning he was using the owners facility, and supplies to make his product and sell it on the side. 30 years living in this country and I still trust no one, there is a saying in Spanish, Todo el mundo busca lo sullo. Basically meaning everyone is out for themselves

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