You must pay income taxes on any converted funds in the year of the conversion, but there are several scenarios in which that might be to your advantage: You believe your tax bracket will be higher in retirement. In this scenario, paying taxes at your current...
Under the Fair Labor Standards Act, whether employees should receive on-call pay depends on whether the time spent on call qualifies as "hours worked." If so, employees must receive at least the federal minimum wage for each hour spent on call, plus overtime for all...
Congratulations! You're a new business owner. Now it's time to hire employees who will help you run your company. But before you advertise for the available positions, you should get yourself up to speed and understand the entire process involved in paying employees. Here's what you...
The tax filing season is a popular time for scammers to call and try to dupe unsuspecting taxpayers. These thieves often make threatening or alarming calls posing as the IRS to try to steal taxpayer money or personal information. However, it’s easy for people to recognize...
When making personnel decisions — including hiring, retention, promotion, and reassignment — employers sometimes want to consider the backgrounds of applicants and employees. For example, some employers might try to find out about the person’s work history, education, criminal record, financial history, medical history, or...
Under Section 127 of the Internal Revenue Code (IRC), employers are allowed to provide tax-free payments of up to $5,250 per year to eligible employees for qualified educational expenses. To be considered qualified, payments must be made in accordance with an employer’s written educational assistance...
It’s no secret that workplace stress is a contributing factor to a variety of issues. In fact, according to a recent American Psychology Association's Work and Wellbeing Survey, 59% of workers experience negative impacts on work performance due to work-related stress. And that’s just the tip...
Voluntary accident insurance provides funds to pay for additional costs incurred from injuries. If you've ever seen an Aflac commercial—with the duck that keeps repeating the name of the product—you get the idea that supplemental insurance provides coverage for bills that your major medical plan...
The new Pregnant Workers Fairness Act (PWFA) and the Providing Urgent Maternal Protections for Nursing Mothers Act (PUMP For Nursing Mothers Act) were adopted when President Joe Biden signed the Consolidated Appropriations Act, 2023 on Dec. 29, 2022. PWFA: Pregnancy Finally Given Disability-Like Protection The PWFA...
Question: We have a repeat applicant whom we offered a job to in the past. This candidate failed a drug screen back then, so we rescinded the offer. Can we reject them now based on their past drug screen result? Answer: No, chances are that rejecting an...