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Tax Implications of Holiday Bonuses

Tax Implications of Holiday Bonuses

It’s the holiday season, which means employees in many companies may be receiving a holiday bonus! So, what are the tax implications? Per Internal Revenue Service (IRS) guidelines, all bonuses issued via check/direct deposit or in the form of gift card (cash equivalent) are considered supplemental taxable wages. Additionally, holiday bonuses are considered discretionary, and therefore do not need to be included in overtime pay calculations for non-exempt employees. For bon

This is What Happened When I Stopped Checking Email on My Phone for a Year

This is What Happened When I Stopped Checking Email on My Phone for a Year

As part of my role in HR, I speak with clients about employee wellness, both physical and mental. I encourage business owners and their employees to take opportunities to unplug from all the many sources of information we tap into on a daily basis, and to live in the moment, fully engaged in personal experiences when out of the office. When clients would ask me how I manage my own work responsibilities when unplugged, I would have to answer, “I’m not actually doing it mysel

Federal Overtime Preliminary Injunction Appealed

Federal Overtime Preliminary Injunction Appealed

As we are aware, the Fair Labor Standards Act (FLSA) salary threshold for exemption from overtime was being raised to $47,476 annually, as December 1, 2016. Then, on November 22nd, only one week prior to the deadline, a federal district court granted a preliminary (temporary) injunction that blocked (postponed) the ruling, preserving the status quo of $23,660 annually - the argument being that the Department of Labor (DOL) exceeded its authority by doubling the threshold and

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