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Recruit Better: Employee Discount Programs and Taxes

HR Bartender

Today’s reader question deals with that: I am trying to find out if employee discount programs that companies sign up for (to offer their employees discounts) have tax consequences for the employee and/or company when the discounts are redeemed. Traditional benefits include employer-offered healthcare, a 401(k) program, and vision benefits.

Taxes 138
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September HR Update

Higginbotham

23, 2023, the IRS issued Revenue Procedure 2023-29 to index the contribution percentages in 2024 for determining the affordability of an employer’s plan under the Affordable Care Act (ACA). percent of the employee’s household income for the year for purposes of both the pay or play rules and premium tax credit eligibility.

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How to Protect Your Company from High Employee Turnover

Achievers

Current statistics from Catalyst show that it costs an average of one-fifth of an employee’s salary to replace that person, which means that for a position paying $50,000 a year, your replacement costs will generally run over $10,000. To learn more, download our white paper on uniting your workforce with a positive company culture.

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5 Tips for Employees Who Are Relocating

Achievers

Employee engagement at work is very much determined by the type of environment and the people that populate said environment, so making sure your personal values align with those of your future employer, in both a cultural and business context is essential. These sites can help you get a feel of how much you’ll be spending per month.

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The New #FLSA Overtime Changes: Make Sure Company Policies Are Aligned

HR Bartender

In case you missed it, here’s a short summary of the ruling : The Department of Labor has set the new standard salary level at $913 per week or $47,476 annually. Employers will be allowed to use nondiscretionary bonuses and incentive payments (including commissions) to satisfy up to 10 percent of the new salary threshold.

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Understanding FLSA classification types

Genesis HR Solutions

From the Department of Labor (DOL) Wage and Hour Division : The FLSA establishes minimum wage, overtime pay, recordkeeping, and youth employment standards affecting employees in the private sector and in Federal, State, and local governments. Learn the best practices for documenting FLSA classification in this free white paper.

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Keeping Millennial Workers: How to Improve Employee Retention

Hppy

They have already become a respected generation by traditional employers because they tend to be business oriented, motivated listeners and they prefer technological advances. times the base salary range. For example, someone with a yearly salary of $50,000 can potentially cost the company between $62,500 and $70,000.