New Year – New Tax Notices! Happy 2019! New Year – new notices! I’m sure you know that W2’s must be distributed to your employees no later than January 31st. But, did you know there is another required notice, with the same month end deadline? The Earned Income Tax Notice
Imputed Income. What, never heard of it – well, the IRS thinks you should already know. Generally speaking, imputing income is a process that is triggered by taxable, non-cash compensation. In English, that generally means a company paid benefit, other than cash. Imputed income is an animal of the IRS.
When does overtime kick in, what about lunches and breaks? Determining when an employee is eligible for overtime in California can be a complex process. However, once you know they are eligible for overtime pay, how do you calculate it, when does it kick in, what about lunches and breaks?