If you have employees and pay minimum wage, you’ll definitely find yourself paying more due to the new law, going into effect today, July 24. The Fair Minimum Wage Act of 2007 begins by increasing the current $5.15 to $5.85 per hour. Then the minimum wage will increase over increments until it reaches $7.25 hourly as […]
Kelly, at Taxgirl, brought up an interesting point in her post, iPhone,uTax, concerning gifts from businesses to employees. She connected this information with Apple giving it’s employees free iPhones. However, those phones aren’t completely free come tax time. They’re considered compensation, and as such, should show up on the employees’ W-2’s.
If you have employees in […]
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