Equals Group shrinks wage packets, furloughs 20% of staff
Equals, the B2B focused e-banking and international payments group, has furloughed 20% of staff and reduced pay for all employees by 20% as a cash conversation measure as it bids to ride out the effects of the Cornavirus pandemic.
Governor Can Order Furloughs, Judge Says
A Sacramento County Superior Court judge has sided with Gov. Arnold Schwarzenegger in his bid to save money by forcing tens of thousands of state workers to take days off without pay.
Withholding Taxes: How to Calculate Payroll Withholding Tax Using the Percentage Method
Withholding Taxes: How to Calculate Payroll Withholding Tax Using the Percentage Method
There are multiple ways to calculate withholding taxes. One way is by using the Percentage Method.
To begin using the Percentage Method, you must have the employees W-4 form. The employees W-4 form will outline how many allowances the employee is claiming. This information is always necessary when calculating withholding taxes.
Your first step is to determine your payperiod, whether you are paying on a weekly, biweekly, or monthly basis.
You will then multiply one withholding allowance for your payroll period by the number of allowances indicated on the employee’s W-4 form.
Next, you will subtract this amount from the employees wages.
You will then go to Publication 15, pages 43-44 and use the Percentage Method Withholding Tables to determine the amount of withholding taxes for your employee.
Please make sure that you are using the correct IRS table, the correct pay period section and the correct marital status column.
All of these steps are outlined in the above video with two very detailed step by step examples.
How does the UK coronavirus job furlough scheme work? | ITV News
The Government’s Job Retention Scheme to help pay people’s wages and support businesses amid the Covid-19 pandemic has gone live, but how does it work?
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Should You Pay Your Employees Hourly or Salary Wages?
Hourly or Salary Wages? It’s not a choice. There are specific rules on when someone can be paid salary. Check out this link to learn more about the Department of Labor’s guidelines on wages: dol.gov/featured/overtime