Remove Banking Remove Legal Remove Security
article thumbnail

Summer hiring guide: The legalities of employing teens & family

BMT Office Administration

Withholdings: Explain the concept of gross vs. net pay and the various deductions for federal and state income taxes and FICA taxes (Social Security and Medicare). Direct Deposit and Paycards: Encourage teens to open bank accounts for direct deposit but be sure to obtain consent if using paycards.

Legal 244
article thumbnail

You need a data protection policy – Here’s the basics

Insperity

The legal liability for data breaches and failure to comply with data privacy laws can incur prohibitive costs, including fines and penalties. Personally identifiable information no longer only includes data like social security and driver’s license numbers. Communicate the company’s data security policy across the organization.

article thumbnail

4 Smart Money Moves to Plan for Financial Security

Success

It’s a good practice to put the fund in an online bank, which often has higher interest rates than traditional brick-and-mortar institutions. Disclosure: This material has been prepared for informational purposes only and should not be used as investment, tax, legal, or accounting advice. All investing involves risk.

Planning 131
article thumbnail

Elder Eyes Wide Shut

Mad in America

A legal guardian and conservator have hijacked her father’s life and estate and she cannot get him out. My friend, who I will call Lilly to protect her and her family, is amidst a legal battle with her sibling and a cabal of lawyers over the legal guardianship and conservatorship of her 74-year-old father, though he can still make decisions.

Legal 134
article thumbnail

Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

That’s not even mentioning all the paperwork involved in the onboarding process, such as employee handbooks , contact information, and direct deposit/banking information — just to name a few. Also, you’re legally obligated to retain these records for at least one year by the EEOC.

Payroll 130
article thumbnail

HR documentation: A step-by-step guide

Insperity

Not having comprehensive employee records, as well as a secure place where this information is centralized, can get you in trouble quickly. It can also land your company in legal trouble. Holding these documents requires a different, more robust level of security. Renewal of documents. Admittedly, this is not a common scenario.

article thumbnail

3 Steps to Take Before Going Into Business for Yourself

Success

When you work for a company, you and your employer split Social Security and Medicare taxes. Ideally, you should have at least two years’ worth of non-discretionary expenses in the bank. These apps connect to your bank account and credit card, making it easier to track your expenses. Create a plan. All investing involves risk.

Insurance 128