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Atmrix

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YC

Y Combinator Cast

04/28/17

@ Y Combinator

It's crucial to have workers' compensation insurance for employees to avoid hefty fines from state authorities.

Video

YC

Legal and Accounting Basics for Startups with Kirsty Nathoo and Carolynn Levy (HtSaS 2014: 18)

@ Y Combinator

Legal and Accounting Basics for Startups with Kirsty Nathoo and Carolynn Levy (HtSaS 2014: 18)

04/28/17

Related Takeaways

BH

Ben Horowitz

04/21/17

@ Y Combinator

When managing a company, it's essential to create incentives for employees to stay, especially if they face the risk of being fired.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

Set up a payroll service to manage employee payments and payroll taxes effectively, as neglecting this can lead to severe financial consequences.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

Always verify that employees are authorized to work in the U.S. to avoid legal issues.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

Even during tough times, it's important to prioritize payroll and ensure no one on the team experiences missed or delayed payments.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

When hiring employees, ensure you understand employment laws and the differences between employees and contractors, as misclassification can lead to IRS scrutiny.

SA

Sam Altman

03/18/17

@ Y Combinator

It's crucial to ensure employees feel valued and happy, as resentment can build if they feel treated unfairly over time.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

Founders must be paid as employees; working for free is illegal and can create liabilities for the company.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

Pay all wages and accrued vacation immediately upon termination, as this is a legal requirement.

MC

Mark Cuban

03/30/24

@ Lex Fridman

Many companies use employee benefits consultants, which can lead to unnecessary costs, as they often direct businesses to providers that pay them the highest commissions.