THRIVE, a Paychex Business Podcast

How The Wage Theft Protection Act Could Impact Your Business

July 5, 2022

When it comes to doing business in the construction industry, ensuring your own employees are being paid correctly is not the only thing you need to worry about. With the Wage Theft Protection Act, you must be sure that anyone working on one of your projects, including those employed by subcontractors, are being paid the correct wage, on time, and at the right rate. On this episode, host Gene Marks is talking with Phil Ross and Brian Sanvidge, of the accounting advisory firm, Anchin, Block & Anchin LLP, about the Wage Theft Protection Act, your responsibilities under this legislation, and how to protect yourself and your business.

Topics include:

00:20 – Meet Phil Ross and Brian Sanvidge
02:54 – What is the Wage Theft Protection Act?
05:30 – Paying your employees the right rate – what does that mean
07:44 – Who does the Wage Theft Protection Act apply to?
11:02 – Why a lower cost subcontractor isn’t always better
14:30 – What industries does this impact?
17:32 – What steps can you take?
20:00 – What to do if you find a problem with a subcontractor
22:03 – The importance of reference checking

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The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.