Understanding the taxation of employer-paid benefits is essential for businesses. Effectively managing these benefits ensures compliance with tax regulations and enhances the value offered to employees. This article explores key topics such as taxable fringe benefits, bonuses, transportation expenses, excess… Read More »Taxation of Employer-Paid Benefits Guide
Companies are continually seeking innovative ways to attract and retain top talent. One increasingly popular employee benefit is employer-sponsored student loan repayment programs. These programs can significantly reduce the financial burden on employees, making your company more attractive to potential… Read More »Enhance Your Benefits Package with Employer-Sponsored Student Loan Repayments
It is not uncommon for HR managers to oversee employees who are older and possess more experience. This dynamic can be both challenging and rewarding, requiring a strategic approach to ensure productivity and harmony within the team. Understanding the nuances… Read More »Effectively Manage Employees Who Are Older and More Experienced
Maintaining the exempt status of employees is crucial for HR managers to ensure compliance with the Fair Labor Standards Act (FLSA). Missteps can lead to costly legal repercussions. This article outlines the key areas where HR managers must be vigilant… Read More »What HR Should Know About Jeopardizing Exempt Status
Section 280G of the Internal Revenue Code is a crucial yet complex area that HR managers must navigate, particularly during mergers, acquisitions, or significant corporate changes. Understanding Section 280G, commonly known as the “Golden Parachute” rule, is essential to ensure… Read More »HR Managers Guide to Section 280G
As an HR manager, understanding the intricacies of Military Leaves of Absence is essential for ensuring compliance with federal laws and supporting employees who serve in the military. This guide covers key aspects such as reemployment rights, undue hardship or… Read More »What HR Managers Should Know About Military Leaves of Absence
Payroll tax liability can be a significant issue for companies of all sizes. Missteps in handling payroll taxes can result in severe financial penalties, legal complications, and reputational damage. Understanding how these liabilities arise is crucial for business owners and… Read More »How a Company Gets Into Payroll Tax Liability
In a critical development, the U.S. Department of Labor (DOL) has announced its final rule to increase the minimum pay requirements under the Fair Labor Standards Act (FLSA) for various exempt “white-collar” employee categories. This rule, effective July 1, 2024,… Read More »New Overtime Threshold Taking Effect Soon: Why HR Must Act Now
Ensuring fair compensation practices is a cornerstone of any healthy employer-employee relationship. When it comes to absences, a key question arises: how should employers handle deductions from pay? This article dives into the legalities surrounding partial day deductions versus full… Read More »Navigating Time and Pay: Partial Day Deductions vs. Full Day Deductions
Regulation E, also known as the Electronic Fund Transfer Act (EFTA), is a federal regulation enforced by the Consumer Financial Protection Bureau (CFPB) that outlines consumer protections for electronic fund transfers (EFTs), including payroll cards. Payroll cards are essentially prepaid… Read More »Regulation E: Payroll Card Compliance
The Internal Revenue Code (IRC) is a vast and complex set of regulations that govern how businesses and individuals report their income and taxes in the United States. Within this code, specific sections address various tax situations. This article delves… Read More »Understanding IRC Section 6672: The Trust Fund Recovery Penalty
An accounts payable audit stands as a crucial component of financial management within any organization. It serves as an independent evaluation of an entity’s financial records pertaining to accounts payable, ensuring accuracy, compliance, and integrity in financial reporting. In this… Read More »Understanding Accounts Payable Audits
When it comes to fulfilling your tax obligations as an employer, staying compliant with the Internal Revenue Service (IRS) is crucial. IRS Form 941, the Employer’s Quarterly Federal Tax Return, is a key document that businesses need to submit regularly.… Read More »Understanding the Correct Requirements for IRS Form 941
As HR managers, assisting employees with 401(k) rollovers is pivotal for supporting their financial well-being during job transitions. The process involves transferring retirement investments from an old account to a new one, such as an Individual Retirement Account (IRA) or… Read More »Navigating 401(k) Rollovers: A Comprehensive Guide for HR Managers
The workplace is on the brink of significant transformations due to the increasing adoption of generative AI, as outlined in a report from the Society for Human Resource Management (SHRM) and The Burning Glass Institute. This article delves into the… Read More »Navigating the Disruptions: Generative AI’s Impact on the Workplace