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Summer hiring guide: The legalities of employing teens & family

BMT Office Administration

Withholdings: Explain the concept of gross vs. net pay and the various deductions for federal and state income taxes and FICA taxes (Social Security and Medicare). Direct Deposit and Paycards: Encourage teens to open bank accounts for direct deposit but be sure to obtain consent if using paycards.

Legal 244
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You need a data protection policy – Here’s the basics

Insperity

The legal liability for data breaches and failure to comply with data privacy laws can incur prohibitive costs, including fines and penalties. Personally identifiable information no longer only includes data like social security and driver’s license numbers. Communicate the company’s data security policy across the organization.

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4 Smart Money Moves to Plan for Financial Security

Success

It’s a good practice to put the fund in an online bank, which often has higher interest rates than traditional brick-and-mortar institutions. Disclosure: This material has been prepared for informational purposes only and should not be used as investment, tax, legal, or accounting advice. All investing involves risk.

Planning 131
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HR documentation: A step-by-step guide

Insperity

Not having comprehensive employee records, as well as a secure place where this information is centralized, can get you in trouble quickly. It can also land your company in legal trouble. Holding these documents requires a different, more robust level of security. Renewal of documents. Admittedly, this is not a common scenario.

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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

That’s not even mentioning all the paperwork involved in the onboarding process, such as employee handbooks , contact information, and direct deposit/banking information — just to name a few. Also, you’re legally obligated to retain these records for at least one year by the EEOC.

Payroll 130
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What Is a Credit Freeze, and Should I Do It?

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Likewise, if a criminal steals your Social Security number, freezing your credit does not prevent them from falsely filing a tax return in your name or claiming government benefits to which you might be entitled. You can do this online, over the phone or by mail: Experian : 888-397-3742; Experian Security Freeze , P.O.

Mailing 111
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Should You Consider a Reverse Mortgage?

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was a bad loan for a long time, says Kevin Walton, a reverse mortgage loan originator and Registered Social Security Analyst with C2 Reverse Mortgage. Prior to legislative changes that began under the Reagan administration , banks had many avenues to take the equity in a home, Walton says. It’s the elephant in the room.It

Banking 52