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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
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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.

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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
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Why you need a digital estate plan and how to create one

Work Life

But you’ve definitely experienced the aggravation of forgetting a password to a rarely used site, as well as the answer to the security questions, as well as the password to the disused email account connected with the site. Chances are good you’ve never considered the need for a digital estate plan.

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Should You Consider a Reverse Mortgage?

Success

was a bad loan for a long time, says Kevin Walton, a reverse mortgage loan originator and Registered Social Security Analyst with C2 Reverse Mortgage. Prior to legislative changes that began under the Reagan administration , banks had many avenues to take the equity in a home, Walton says. It’s the elephant in the room.It

Banking 52
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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 142
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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