| Subject | Date Asked | Expert |
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| Year end wages | 11/24/2009 | Shirley McAllister, CPP, PHR |
Q: Can you give some supporting documentation that details year end payroll. I am specifically looking ...
A: year end would not make a difference in how you pay. For accounting purposes you simply accrue the ...
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| Pensions | 11/24/2009 | Allen |
Q: At my place of employment, I have a pension through the state. There are some options that a person ...
A: I believe you may be misinterpreting the choices. A joint and survivor annuity pays a certain amount ...
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| Pensions | 11/22/2009 | Allen |
Q: At my place of employment, I have a pension through the state. There are some options that a person ...
A: This reduction is almost universal. There is a very simple rationale. On average, the same pension ...
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| Pensions | 11/22/2009 | Arthur Naman |
Q: At my place of employment, I have a pension through the state. There are some options that a ...
A: At retirement age, a pension has a fixed value based on the contributions and earnings prior to ...
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| S & H | 11/20/2009 | Arthur Naman |
Q: I am new in accounting and I am using QuickBooks. My company is importing items from other ...
A: Generally, shipping and transportation costs are included as part of cost of goods sold, basically, ...
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| Retiree Account Statement | 11/18/2009 | Allen |
Q: I sent you a question about obtaining a copy of my Retiree Account Statement. You replied that you ...
A: I already deleted everything from my computer and I will be deleting your new message and this ...
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| salary analysis | 11/17/2009 | Arthur Naman |
Q: what approach would you take to do a salary analysis to current vs next year? Expense bridge to show ...
A: Under normal conditions I might look at the trend over the past few years rather then just the ...
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| expenses papertrail | 11/6/2009 | Arthur Naman |
Q: I have recently set up a solo pediatric therapy business (LLC, s-corp designation). I am using ...
A: Generally an expense form is used for expenses paid out of a personal account -- checking or credit ...
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| Employer 401(k) Options | 11/6/2009 | Allen |
Q: I have been a volunteer on AllExperts for many years, but now I am on the recieving end. Thanks for ...
A: Once you involve an investment advisor he or she will want to be paid for the time involved. And ...
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| AT&T RETIREMENT | 11/5/2009 | Arthur Naman |
Q: OUR AT%26T BUSINESS OFFICE CLOSED IN APRIL OF 1989. I WAS ADVISED THAT OUR RETIREMENT WOULD BE ...
A: Contact the HR, human resources, department of At&T *and* Lucent Technologies. This may take several ...
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| Borrowing from Pension | 10/31/2009 | Allen |
Q: Well my husband and I are in a bad spot right now and so is everyone else. I asked him to borrow ...
A: Sorry to read about your situation. You will have to verify if his plan allows loans. Many plans ...
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| Recoverable Draw/PTO Repayment-Gross Versus Net? | 10/31/2009 | Vanessa Powell |
Q: My former employer (I voluntarily resigned), paid me 2 months worth of recoverable draw which ...
A: I agree with your CPA. They need to either pay you back all of the taxes and THEN bill you for the ...
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| Recoverable Draw & PTO Payback-Gross Versus Net | 10/31/2009 | Arthur Naman |
Q: My former employer (I voluntarily resigned), paid me 2 months worth of recoverable draw which ...
A: Keep in mind that the income taxes withheld will be reported on your annual 1040. You received, in ...
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| pension funds | 10/30/2009 | Shirley McAllister, CPP, PHR |
Q: i AM 21 YEARS OLD THANKS
A: You can't get your pension without penalties until you are 591/2. If you have company pension you ...
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| Pension Rollover | 10/30/2009 | Allen |
Q: My company allows monthly pension payout for 3 years, 4 years etc up to 10 years or life annuity. If ...
A: The money can be rolled over if you elect a payout period of less than 10 years. You can also choose ...
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| Zero Tolerance Late Clock-ins | 10/29/2009 | Shirley McAllister, CPP, PHR |
Q: We are currently using the 7 minute rule in our time keeping process, it has become common for the ...
A: I have the same problem, only I have employees that "forget" to clock in and managers have to ajust ...
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| Withholding Payroll | 10/29/2009 | Vanessa Powell |
Q: Vanessa, Thanks for answering my question on the 24th concerning payroll withholding.I have not yet ...
A: I'm not sure. I would check with your state's labor board website. Search for withholding pay. ...
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| Sick Leave Pay | 10/28/2009 | Vanessa Powell |
Q: Most of the hourly employees in my organization work flexible work schedules because their ...
A: Not generally, no. Although some companies I've worked with will allow the employee to be paid the ...
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| CPA | 10/27/2009 | Vanessa Powell |
Q: How important do you think it is to get your CPA? I am going to be graduating next semester and I ...
A: Your CPA license is by FAR more important than any masters program. As for your 150 hours, it ...
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| non exempt pay | 10/27/2009 | Shirley McAllister, CPP, PHR |
Q: I work for a public school in Ohio as a custodian and am paid 26 equal pays from July 1 to July 1 of ...
A: What they are telling you is that your contract says you will be paid a specific amount of money ...
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| retirement plans | 10/27/2009 | Allen |
Q: Let's just say in the same calendar year, a person has two jobs (not simultaneously -- one in the ...
A: Sorry for the delay in getting back to you. You only have one limit and that's $16,500 in 2009 (or ...
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| labor law, compensation | 10/26/2009 | Vanessa Powell |
Q: Is it legal to schedule one employee to work more days, and hours for the same pay as other ...
A: Unless there are some special rules for pilots (which I don't have much experience with), yes, it is ...
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| office administration | 10/25/2009 | Arthur Naman |
Q: sir/madam,i am working in a software company as business development and have been promoted to do ...
A: Your question is too broad. There is no answer to your question as it depends on the company. ...
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| Hiring South African resident from offshore | 10/24/2009 | Shirley McAllister, CPP, PHR |
Q: I want to hire a specific SA national/resident to do research and writing. I do not conduct ...
A: Ceridian will do your payroll and pay the correct withholding and social insurance. If that is what ...
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| withholding payroll | 10/24/2009 | Vanessa Powell |
Q: I am a salaried employee of a large corp. After 30 years of service the company decided to change ...
A: I'm not entirely sure what's going on here. Why do they want to withhold 2 weeks pay? That makes ...
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| Leasing-Finance or Operating Lease | 10/23/2009 | Arthur Naman |
Q: I own a business & doing the accounting myself. I rent a photocopier machine from supplier,paying ...
A: For a financing lease, the lease term equals or exceeds 75% of the asset's useful life. And, the ...
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| employee's tax home | 10/21/2009 | Shirley McAllister, CPP, PHR |
Q: what is the length of time an employee has to be away from home to determine if withholding in ...
A: Withholding is not determined by the amount of time the employee is away from home. State ...
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| Benefits Programs | 10/20/2009 | Vanessa Powell |
Q: It is my impression that federal law requires that employee benefits programs for any classification ...
A: While it's a little more complicated than that, your basic premise is correct. ERISA (Employee ...
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| commission | 10/20/2009 | Shirley McAllister, CPP, PHR |
Q: I work for a large department store in the cosmetics department. For years now we have been paid ...
A: If you have an old employee handbook or some type of proof that you were told you would be paid 3% ...
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| Lump sum limits | 10/17/2009 | Allen |
Q: I am 58 and plan on retiring within the next 5 years. My company allows for a monthly annuity or ...
A: The 2006 Act does not limit the amount of the lump sum payment. An older law does limit the maximum ...
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| US Employee paid from Canada | 10/15/2009 | Shirley McAllister, CPP, PHR |
Q: We are a Canadian company but one of our employees moved to North Carolina about a year ago. We ...
A: The two that I know of are "Ceridian" and "ADP". I don't know how it would work with ADP as there ...
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| Payroll liabilities and a new company | 10/13/2009 | Shirley McAllister, CPP, PHR |
Q: My husband's old company recently declared bankrupty. He has an IRS lien (payroll taxes) that cannot ...
A: If the old company or partner is paying it back than it would be set up as a loan to the other ...
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| Is there a tax break for using IRA funds to buy health insurance? | 10/12/2009 | Allen |
Q: I'm retired at 63 and will need health insurance until i receive medicare - if I withdraw money from ...
A: There is a one year restriction on changing the financial institution where you have an account. ...
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| payroll taxes | 10/12/2009 | Arthur Naman |
Q: I am starting a business. Will employ two, at total annual salary of $85,000. For my budgeting, what ...
A: FICA and unemployment taxes are around 10% plus a bit for state unemployment taxes = 12% about. ...
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| HR-10 Keogh | 10/11/2009 | Vanessa Powell |
Q: I have an embarrassing question. I'm a financial adviser, and I don't know how to pronounce "Keogh." ...
A: This is the most fantastic question I have ever received in my inbox. Thank you for the smile! ...
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| Group Term Life Insurance | 10/9/2009 | Shirley McAllister, CPP, PHR |
Q: I have a quick question for you. I have emailed you before, but I'll recap. I've taken over our US ...
A: First you have the IRS Table 1-Uniform Premiums (Fair market value of GTL Insurance per 1,000 of ...
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| Hours on time clock punch does not match paycheck | 10/9/2009 | Shirley McAllister, CPP, PHR |
Q: I live in Illinois and work as an assistant manager of a restaurant that is privately owned with ...
A: They are paying you as a salaried exempt employee. Salaried exempt employees are not eligible for ...
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| Bonus wages | 10/9/2009 | Shirley McAllister, CPP, PHR |
Q: Are bonus wages processed as a separate payment subject to voluntary deductions such as 401k ...
A: Bonus wages processed as a separte payment may or may not be subject to 401K contributions. It ...
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| Early Pension withdrawl | 10/8/2009 | Allen |
Q: My husband and I would like to withdraw his pension to use as a down payment on our first home. My ...
A: You can contact an attorney in your area who works in the ERISA or pension areas. However, the ...
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| inhouse pension plan accounting | 10/8/2009 | Vanessa Powell |
Q: Our small business (5 employees) has a 401K profit sharing plan. All annual reporting is completed ...
A: For a small company, the easiest thing to do is to merge your payroll and pension functions. ...
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