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2024 Tax Reporting Tips for Resort Employers: Worker Classification and Navigating 1099 Requirements

Withum

Expense Reimbursement: Employees are generally reimbursed for business expenses, while independent contractors are not. It is critical to seek consultation for classification purposes from a qualified tax or legal professional if the classification is not clear.

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Errors in Posting Payroll

SMBAccountant

This can include deductions for Social Security, Medicare, federal and state income taxes, health insurance, 401k, child support, expense reimbursements, and many others. When posting the net pay as the business’s expense, all those deductions that were paid by the employee are reducing the company’s expense.

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Legal Expert at Human Resources Conference Breaks Down Hot Topics in California

ThomsonReuters

Additionally, the law expands cure rights for employers, allowing them to address violations related to wage statements, meal and rest breaks, minimum wage, overtime, and expense reimbursement claims. “I want to cure these right away, that way I can decrease liability,” Siegel explained.

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Taking A Pulse On The New Gig Economy

PYMNTS

Gig workers are responsible for many of the ancillary costs that would traditionally fall to the employer — there’s no employee-provided health care, 401K, equipment, expense reimbursement, handling taxes, etc. But workers aren’t necessarily being left to figure it all out on their own.

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Protecting Your Business: What Every Business Owner Needs to Know About Bookkeeper Fraud

Basis 365

Expense Reimbursement Fraud: Submitting false expense reports for personal expenses. They will help identify the extent of the fraud and gather evidence for legal proceedings, if necessary. Legal Action Consult with your legal advisor to determine the appropriate action based on the investigation's findings.

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Unmasking Fraud: How Forensic Accounting Protects the Hospitality Industry

Withum

A litigation engagement involves actual or potential legal or regulatory proceedings before a trier of fact, such as a judge. There are no current legal proceedings or issues in an investigation engagement, but some item(s) of concern has been flagged. It can help uncover specific facts surrounding a potential allegation of fraud.

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5 Ways to Streamline Nonprofit Financial Management

inDinero Accounting

Additionally, an expense reimbursement policy can streamline the reimbursement process, detailing what costs are reimbursable and the necessary documentation. This policy guarantees accurate tracking of organizational expenses and helps maintain financial stability.