Employers Need to Be Careful. Even Jay-Z.

When you own a business, depending on the size, it is important that you are taking the proper steps to protect yourself and your investment.  Workers Compensation is one such area that should hold great focus as an employer.  Neglecting to pay premiums for a workers compensation policy, or even to hold one could lead to hefty fines by the State you do business, or crippling court and medical bills if something happens to one of your employees.  It doesn’t matter if you are a small landscaping company or Jay-Z, your diligence is essential.

Not too long ago, a story was released that Jay-Z was being sued for neglecting to pay for his workers compensation policy.  This policy covered his employees (maids, chefs, landscapers) from any liability that was associated with doing work on his premises.  He was being fined in the amount of $18,000 that auditors say were not being paid.  The rap star may have been too busy with the life of a celebrity, or just wanted to round off the number of problems in his life to 100.  Either way, he was to pay for his procrastination.

Since that time, Jay-Z has been proven innocent, and the fine of $18,000 should be long gone in a few days.  But it just goes to show that if you are not careful, you may find yourself in a world of trouble for forgetting about that invoice buried under your paperwork.