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its Wednesday December 21st 2022 well everything looks like its going to be okay Dow Jones up over 500 points today NASDAQ way over 100 points today everything looks fine Marcus across the board up but wait a second what about all the bad news we got today we are witnessing an economic collapse take place right before our very eyes and yet were watching the markets go up today I was reading an article today on the head and somebody had commented on the article and I want to read this to you I thought it was really spot on we are past the bailout phase this is the crash and burn phase this is the era of budget deficits exceeding treasury revenues its over we just dont get it yet its like a chicken flopping around after the head is cut off what do you think about that I think this person is spot on and its almost irritating to watch how this economy is being decimated yet the stock market is up today and while Im watching it nobodys even saying why its up because nobody knows

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Which 3 wage types are not considered regular wages?

Thus, among other things, wages that vary from payroll period to payroll period (such as commissions, reported tips, bonuses, or overtime pay) are not regular wages, except that an employer may treat tips as regular wages under paragraph (a)(1)(v) of this section and an employer may treat overtime pay as regular wages

What is a regular pay?

In basic terms, an employees regular rate is his or her straight-time earnings converted to an hourly figure. Technically speaking, the regular rate is the employees total weekly remuneration for employment, less statutory exclusions, divided by the total weekly hours worked for which such remuneration was paid.

What is the regular pay on the payroll?

Regular rate of pay in California is an employees total earnings divided by the total number of hours worked in a workweek. It is used to calculate non-exempt workers overtime pay, which is one-and-a-half times their regular rate of pay.

What to do if an employee owes you money?

In California, an employer is not permitted to use self-help remedies to recoup what an employee owes them. In other words, you cannot take advantage of your status as the employer and simply deduct what is owed from the employees paycheck. Instead, you may have to sue the employee to get your money.

What are the three types of pay?

Three methods employers use to compensate employees include salary, hourly wage and commission. The method you select depends largely on the nature of each job position. For example, commission is the typical payment method in sales positions while salary is typical in management positions.

What records should be kept for 7 years?

Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return. Keep records indefinitely if you do not file a return.

How do you keep payroll records?

Federal Rules Employers must record and maintain specific information to demonstrate compliance with the FLSA provisions relating to minimum wage, overtime, equal pay and child labor. The records must be kept in a safe and accessible location either at the worksite or at a central record-keeping office.

Who keeps track of payroll?

In ance with the Fair Labor Standards Act (FLSA), employers are required to keep most payroll records for at least 3 years. This law applies regardless of employment status, including both exempt and non-exempt employees.

What are the different wage types?

5 Wage Types and How They Affect Your Employees Minimum Wage. Minimum wage is the most widely recognized term in the realm of employee compensation. Living Wage. Living wage is the lowest wage at which the wage earner and his/her family can afford the most basic costs of living. Prevailing Wage. Tipped Wage. Fair Wage.

How do you maintain payroll records?

Here is a starting ready-reckoner from a legal standpoint: Records of all employees for a period of one year after termination. All payroll records for three years. Any benefit plan, seniority plan or merit system for the full period that the plan or system is in effect and for at least one year after its termination.

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