Showing posts with label Generic Payroll. Show all posts
Showing posts with label Generic Payroll. Show all posts

Saturday, 15 July 2017

50 US States

50 US States


  1.  California
  2. Oregon
  3. Washington
  4. Nevada
  5. Idaho
  6. Arizona
  7. New Mexico
  8. Texas
  9. Kansas
  10. North Dakota
  11. South Dakota
  12. Minnesota
  13. Iowa
  14. Missouri 
  15. ArKansas
  16. Louisiana
  17. Kentucky
  18. Tennessee
  19. Colorado
  20. Mississippi 
  21. Georgia  
  22. Florida
  23. Virginia
  24. West Virginia
  25. North Caroliana
  26. South Caroliana
  27. New jersey
  28. New York
  29. Vermont
  30. Maine
  31. Pennsylvania
  32. Rhode Island
  33. Hawaii
  34. Alaska
  35. Wyoming
  36. Michigan
  37. Illinois
  38. Wisconsin
  39. Ohio
  40. Maryland
  41. Massachusetts 
  42. Montana
  43. Utah
  44. Oklahoma
  45. Nebraska
  46. Indiana
  47. Alabama
  48. Delaware
  49. Connecticut
  50. New Hampshire

Puerto Rico - Union Territory (Important One , there are total 5)
Washington D.C. - Federal District

Saturday, 21 January 2017

Fair Labor Standards Concepts


Fair Labor Standards: Concepts


The Fair Labor Standards Act (FLSA), also known as the Federal Wage-Hour Law, is perhaps the most basic of all payroll and employment laws.

The FLSA:
  1. sets the minimum wage and overtime rates covered employees must receive for their work;
  2. requires record keeping by all covered employers;
  3. places restrictions on the types of work minors can do and the hours they can work; and
  4. mandates equal pay for equal work.
The FLSA does not:
  1. require employers to provide paid vacations, sick days, jury duty leave, holidays, lunch breaks, or coffee breaks, but some states require certain employers to provide paid sick leave to employees meeting specific requirements;
  2. regulate how often employees must be paid, or when they must be paid after employment termination (voluntary or involuntary); or
  3. restrict the hours that employees over 16 years of age may be required to work.
Generally, items not covered by the FLSA are regulated by state laws.
The FLSA does not require that wages be paid within a certain time after services are performed. However, federal courts have ruled that wages are "unpaid" unless they are paid on the employees' regular payday. Payment after that date violates the FLSA's minimum wage and overtime pay requirements.

Exempt Employees: No Overtime - Fix salary employees, computer professionals , white collar jobs

Non-Exempt Employees: minimum wage and overtime - hourly  employees , labor jobs 

State Wage and Hour laws may impose requirements beyond those found in the FLSA when defining an employee's exemption from minimum wage and overtime. For example, a state may have a salary requirement that is greater than the FLSA's weekly salary requirement.

Friday, 20 January 2017

Employee - Independent Contractor - Agency Contractor

As employer you hire a person as employee or independent contractor or agency employees 

Employee -

(1) Employer will be responsible for all withholding
(2) Employer would be responsible for W2
(3) Social security number is important 

Independent contractor - 

(1) No tax withholding
(2) If the paying more than $600 then report 1099-MISC
(3) W9 reporting - TIN(Tax Identification Number) is important - in case of failure or incorrect TIN - backup withholding  - 28% 
ex. $1000 earning then $280 withholding

Agency - 

(1) Nothing to pay to person/contractor - pay to agency 
(2) No reporting 
(3) no withholding 

= = = = = = = =

Social security number verification system - SSNVS

Taxpayer Identification Number (TIN) - verification system

= = = = = = = =

SS-8 - to hire as employee vs independent contractor 

Form 945 - 

Use this form to report withheld federal income tax from non payroll payments. Non payroll payments include:

- Pensions (including distributions from tax-favored retirement plans, for example, section 401(k), section 403(b), and governmental section 457(b) plans), and annuities;
- Military retirement;
- Gambling winnings;
- Indian gaming profits;
- Voluntary withholding on certain government payments;
- Backup withholding.