Workers Compensation Overview

Last Update:
July 15, 2020

Wrapbook handles the following things for you:

  1. Automatically acts as the employer of record for W2 Employees and Loan-outs (1099s with EINs) against Wrapbook’s EIN and workers compensation insurance policy.
  2. Automatically acts as a payment processor for contractors (1099s with social security numbers) against client’s EIN and insurance policy.

For many customers, Wrapbook also acts as an insurance agent and can sell you an insurance policy for general liability, equipment rentals, and \ or for workers compensation for contractors.

Classification Breakdown

This is the breakdown of the services Wrapbook provides by labor classification.

Classification Payment Payroll and Workers Comp
W2 Employees Via Wrapbook Wrapbook’s EIN & Insurance Policy
Loan Outs (1099 with EIN) Via Wrapbook Wrapbook’s EIN & Insurance Policy
Contractors (1099 with SSN) Via Wrapbook Client’s EIN & Insurance Policy