An employee's personnel file contains important work-related information specific to him or her. This may include: Job description. Job application. Resume. Employment offer. W-4 form. Employee benefits forms. Emergency contacts. Employment contract. Performance...
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How Can You Untangle Special Wage Payments?
The Internal Revenue Service defines special wage payment (SWP) as "an amount paid by an employer to an employee (or former employee) for services performed in a prior year." SWPs include: Back pay. Severance pay. Accumulated vacation or sick pay. Bonuses. Sales...
Different Kinds of Bonuses — And Their Effect on Overtime
Bonuses are a form of variable pay that are used to inspire employee loyalty or reward performance, and it's essential to know about the different kinds. Discretionary bonuses A bonus is discretionary if it's given solely at the employer's discretion and does...