The novel coronavirus (COVID-19) pandemic has caused difficulties for millions of businesses — from family-owned restaurants and niche manufacturers to multinational airlines and oil companies. As the economy slowly reopens across the country, old ways of doing things clearly won't work for most business operations. But there's a potential upside: Major economic disruptions may provide [...]
Even while conditions in some states have improved enough to allow some workers in exile to begin returning to their workplaces, life isn't likely to return to normal for a long while, thanks to the novel coronavirus (COVID-19) crisis. First, some employees worried about the chances they could become infected might balk at the idea [...]
Following the COVID-19 pandemic announcement, small businesses scrambled to get their Paycheck Protection Program applications and documents in order. Up for grabs was a government-funded $349 billion in forgivable loans to help pay salaries, utilities, and other necessary expenses while businesses weathered the medical and economic storm. And if a business didn't have a company [...]
The coronavirus (COVID-19) pandemic has shut down many sectors of the U.S. economy, causing widespread job losses. Over 10 million Americans applied for unemployment benefits in March, according to the U.S. Department of Labor. And far more claims are expected in April. Some economists predict that the unemployment rate could rise to Depression-era levels of [...]
The coronavirus (COVID-10) pandemic has had adverse effects on many industries. Both employers and employees are seeking ways to respond to financial stress resulting from the economic slowdown and financial market volatility. If your company's revenue has plummeted, you might be considering eliminating or scaling back your contributions to employees' 401(k) accounts. Here's what you [...]
Under current tax law, medical expenses can be deducted as an itemized deduction on your federal income tax return only to the extent that they exceed 7.5% of adjusted gross income (AGI). This AGI threshold was in place for 2017 and 2018 under the Tax Cuts and Jobs Act (TCJA). And now it's been extended [...]
Most people agree that civic duties are important. The fact is, many responsibilities such as jury duty and voting have to be performed during traditional work hours. For employers, allowing staff members to take time extra time off can affect the smooth operation of their businesses. Do you have to set aside the immediate interests [...]
There is danger lurking in employee handbooks which are rarely or never updated. Employment laws change. New ones are added. New court decisions affect employment practices. And social changes also impact the workplace. So regularly, perhaps once a year, employers need to review the policies in the employee handbook. (It's wise to ask an HR [...]
What is the "regular rate of pay" for a nonexempt employee? The answer is needed when calculating hourly overtime wages, which must exceed base wages by 50%. New regulations from the U.S. Department of Labor (DOL) that take effect January 15 update the definition of "regular rate of pay" to guide your overtime pay calculations. [...]
Payroll is one of the most complex administrative tasks employers face. And because of the tremendous importance of payroll to American households and the economy, there are many rules surrounding it. Here are answers to some payroll and employment questions you may have: Q. Is an employer required to provide employees with pay stubs? A. [...]
