In payroll we calculate the gross wages of an employee by meticulously following strict regulations on what must be or must not be counted as hours worked and taxable income. We pay the employee their net paycheck only by the payment method that is permitted. But what about in between? When it comes to deducting from the employee’s gross wages to achieve the net income, are you also adhering strictly to the rules?
Failure to follow the regulations pertaining to employee wage deductions can result in substantial penalties and interest. This 90 minute presentation will offer attendees insight into how to protect your company and stay compliant with laws regarding employee wage deductions.
Areas Covered in the Session :
- Taxes – which are mandatory, which are a courtesy, and which ones the employee controls
- Child support – the limits but not beyond
- Tax levies – federal and state
- Creditor garnishments – how many can you honor and how often
- Voluntary wage assignments for payday loans – when are they required to be honored
- Handling fringe benefits such as health insurance or group term life
- Uniforms – when the employer pays for it and when the employee furnishes it
- Meals – when they become part of the employee’s wages
- Lodging – when it is part of the employee’s wages and when is it a perk
- Shortages – the employee came up short so they have to cover that right?
- Breakage – you broke it so you have to pay for it, legal or not
- Overpayments – the employee was overpaid so you can just take the money back or can you?
- Advanced vacation pay – the employee knows the vacation hours were advanced so we can take them back when the employee quits, can’t we?
- Loans to employees: what terms can be set while the employee is still active and what can be taken when the employee terminates
- Employee purchases – active employees and terminated employees
- Anti-wage theft laws and the states
Who Should Attend:
- Payroll Professionals
- Human Resources Professionals
- Accounting Personnel
- Business Owners
- Every individual or entity that must deal with the complexities and technicalities within the payroll process