Termination Pay: When To Pay It, How To Pay It, And How To Tax It
An employee's exit from your organization is the most dangerous time — from a legal AND tax perspective.
To find out if your termination pay practices are correct and compliant with federal and state employment tax regulations, join payroll expert Mindy Harada Mayo for Termination Pay: When to Pay It, How to Pay It, and How to Tax It.
Mindy will reveal answers to questions like:
Understanding answers to questions like these is essential to your HR and payroll compliance.
- How quickly must you deliver that final paycheck? State laws vary: 14 days? 7 days? 72 hours?
- What records should you retain for departing employees?
- What are the rules on severance pay: Is it taxable for federal purposes? How about for state? If severance is paid, can the employee receive unemployment benefits?
- Is there a difference between providing wage continuation versus lump sum severance?
- Can you deduct from an employee's final paycheck to recoup for lost company equipment? Can you deduct amounts owed to you by the employee?
More lawsuits and fines are triggered by termination mistakes than at any time during the employees' tenure. And pay mistakes lead the way.
Attend this webinar to discover:
Mindy will also answer your questions during our interactive Q&A session. And because this is a webinar, there is NO LIMIT to the number of attendees you can invite at one location.
- When you have to pay a terminated employee in order to comply with wage-and-hour rules.
- How to handle important withholding issues.
- Which records to keep (and which to toss) for terminated workers.
- How to reduce your FICA and FUTA tax and employee withholding.
- How to use Supplemental Unemployment Benefit Plans to cut your severance costs.
Termination pay is one of your most complex and confusing duties. Don't go it alone … and don't try to guess at the compliance rules. The risks are way too high. Make sure you have the information you need to make the right decisions and avoid expensive fines and lawsuits.
|Licenses / Designations / Educational Credits:||PHR / SPHR Re-Certification Credits|
All US States: 1.25
|About The Provider:
||The HR Specialist family of products helps HR professionals quickly resolve their daily challenges. From state-specific employment law to compensation and benefits, our experts give you the HR advice you need to know.
Whether you're new to HR or an experienced pro - a department of one or 10 - you can trust the practical, plain-English advice from HR Specialist. We'll save you time and headaches by focusing on what you need to know, when you need to know it. That makes you the HR expert your company can rely on and gets you the recognition you deserve.
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|Keywords For This Course:|
termination, payroll, taxes, severance, pay, compliance, paychecks
|Currently Scheduled Dates For This Webcast|
|Termination Pay: When To Pay It, How To Pay It, And How To Tax It||CD/On-Demand||$197.00||
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