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How to set up a payroll process: 10 steps

Insperity

Not only do you have to figure out the proper way to pay your people, you have to withhold the appropriate taxes, deposit them and report them to the government. Also, there are some states and local governments that require separate ID numbers in order to process taxes. Independent contractor. Not all taxes are created equal.

Payroll 264
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What are fringe benefits? What employers need to know

Insperity

Though you don’t withhold taxes for these parties, you may need to report the benefit to the government using one of the following forms: IRS Form 1099-NEC for independent contractors IRS Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc. Independent contractors you hire for a specific job can be recipients.

Banking 287
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Senate banking chair asks Biden to replace FDIC chairman after ‘toxic culture’ report

Work Life

The most powerful Democrat in Congress on banking and financial issues called for President Joe Biden to replace the chairman of the Federal Deposit Insurance Corp. Sherrod Brown, D-Ohio, and chairman of the Senate Banking Committee. The FDIC is one of several banking system regulators.

Banking 98
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Employees sue Wells Fargo for insurance plan’s inflated prescription drug prices

Work Life

was accused in a lawsuit filed on Tuesday of mismanaging its employee health insurance plan and forcing tens of thousands of U.S. The proposed class action filed in Minnesota federal court by four ex-employees of Wells Fargo claims the bank violated a federal law requiring companies to prudently manage employee health and retirement plans.

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Business owner beware: FLSA compliance and personal liability

Insperity

In fact, when considering lawsuits about back wages, the federal government has the authority to deem a business owner an “employer” if certain criteria are present under the Fair Labor Standards Act (FLSA). And if you think insurance can shield you from such expenses, think again. Staying compliant.

Legal 203
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Mental health at work: The laws and best practices

Insperity

While the topic is a complicated one that may require the advice of a legal or HR consultant, here are the quick facts: One or two days away, from time to time, and requested in advance, may be a good use for unused flex time, sick leave or even banked vacations days (and handled in the same manner as common illnesses or injury).

Legal 240
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Preparing to Move Overseas? Read This First

Success

health insurance may not cover you. As soon as you move abroad , you’re in charge of paying for your medical expenses, as your United States health insurance won’t let you submit any assertions, says Elena Jones, a personal finance expert at FinanceJar. You can (or may need to) purchase international insurance. Health care.

Banking 105