| Subject | Date Asked | Expert |
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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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| 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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| 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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| Early Pension withdrawl | 10/7/2009 | Allen |
Q: My husband and I would like to withdraw his pension to use as a down payment on our first home. My ...
A: I don't believe the company is deliberately withholding the money. I'm guessing but I believe the ...
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| Leasing or Hire Purchase | 10/7/2009 | Arthur Naman |
Q: I own a business & doing the accounting myself. I rent a photocopier machine from supplier,paying ...
A: There is nothing wrong with your treatment regarding expensing the annual lease payments as rent or ...
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| Company Closing | 10/2/2009 | Allen |
Q: My company is closing.. I have a pension that I am fully vested in.. Can I take this pension and ...
A: The answer depends on the type of pension and the provisions of the plan. If you are participating ...
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| common paymaster rules | 10/1/2009 | Shirley McAllister, CPP, PHR |
Q: I understand that each state has different rules on whether they allow a common paymaster. I need ...
A: Common paymaster rules are under the IRS federal statutes Treasury Regulations, Subchapter AC, Sec. ...
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| Leasing or Hire Purchase | 9/30/2009 | Arthur Naman |
Q: I own a business & doing the accounting myself. I rent a photocopier machine from supplier,paying ...
A: The question of whether or not you can depreciate the machine as an asset as opposed to writing off ...
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| Pension entitlement | 9/25/2009 | Allen |
Q: How do I find out about my father's pension since he died? My father died in DEC 2008. He retired ...
A: First, while it may be painful, go through his files to see if you can find anything. If that does ...
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| paying yourself from LLC | 9/24/2009 | Vanessa Powell |
Q: When paying yourself, what account to you put it under?
A: It depends on a couple of things. If the LLC is organized as, essentially, a partnership (the most ...
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| Expense Reimbursement | 9/23/2009 | Shirley McAllister, CPP, PHR |
Q: If an employer decides to reimburse employees the out of pocket cost to get the swine flu shot (not ...
A: If the receipt you collect from the employe says flu shot or vaccine on it you do not have to tax ...
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| Canada FTax Exemption | 9/22/2009 | Shirley McAllister, CPP, PHR |
Q: I am an employer working out of our corporate office in the US however we have set up a permanent ...
A: I forgot to say the newsletter is free. Also I will try and remember , but I get between 20 and 60 ...
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| 401k or keo? | 9/22/2009 | Allen |
Q: I took out a loan of $3000 in 1999 or 2000 made one payment in 2001 or 2002; I have paid nothing on ...
A: When you take a loan and don't repay, it continues to show in the plan. While it remains an ...
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