Article Highlights:De Minimis Fringe BenefitsCash GiftsGift CertificatesGroup MealsFICA and Wage WithholdingIt is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a fair market value so low that it is impractical and unreasonable to account for it, the gift’s value would be treated […]
Article Highlights: Employing a ChildChild Payroll TaxesFUTA Tax for a ChildChild IRA ContributionsChild Tax-Free IncomeSpouses Working in the Same BusinessPartnershipSpousal Joint VentureSpouse EmployeeSeasonal times of the year bring a lot of extra work for many family-run businesses, which may require putting the kids to work and having a spouse help out over the busy time. […]
If you had to make a list of some of the most valuable resources that businesses have when it comes to attracting and retaining top talent, an employee bonus pool would undoubtedly be right at the top.Despite the fact that unemployment is on the decline and things are getting “back to normal” in the wake […]
According to one recent study, nearly half of all employees switched to working remotely in 2020 during the onset of the COVID-19 pandemic. Almost overnight, local and state lockdowns went into effect on all services deemed non-essential — meaning that people suddenly had to adapt to a working situation that couldn’t be more foreign to […]