Payroll Vermont, Unique Aspects of Vermont Payroll Law and Practice

By Charles Read
The Vermont State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is:

Department of Taxes
109 State Street
Montpelier, VT 05609-1401
(802) 828-2551
http://vermont.gov/


Vermont allows you to use the "W-4VT, Vermont Employee Withholding Allowance Certificate" form to calculate state income tax withholding or federal W4 form.


Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In Vermont cafeteria plans are not taxable for income tax calculation; taxable for unemployment insurance purposes. 401(k) plan deferrals are not taxable for income taxes; taxable for unemployment purposes.

In Vermont supplemental wages are taxed at a 7.2% flat rate.

Magnetic media reporting of W-2s is not allowed in Vermont.

The Vermont State Unemployment Insurance Agency is:

Department of Employment and Training
5 Green Mountain Dr.
P.O. Box 488
Montpelier, VT 05601-0488
(802) 828-4344
(877) 214-3331
www.det.state.vt.us/

The State of Vermont taxable wage base for unemployment purposes is wages up to $8000.00.


Vermont has optional reporting of quarterly wages on magnetic media.

Unemployment records must be retained in Vermont for a minimum period of six years. This information generally includes: name; social security number; dates of hire, rehire and termination; wages by period; payroll pay periods and pay dates; date and circumstances of termination.


The Vermont State Agency charged with enforcing the state wage and hour laws is:

Department of Labor and Industry
Wage and Hour Division
National Life Bldg., Drawer 20
Montpelier, VT 05620-3401
(802) 828-2157
http://www.labor.vermont.gov/

The minimum wage in Vermont is $7.00 per hour.


The general provision in Vermont concerning paying overtime in a non-FLSA covered employer is one and one half times regular rate after 40-hour week.


Vermont State new hire reporting requirements are that every employer must report every new hire and rehire. The employer must report the federally required elements of:

Employee's name
Employee's address
Employee's social security number
Employer's name
Employers address
Employer's Federal Employer Identification Number (EIN)

This information must be reported within 20 days of the hiring or rehiring.
The information can be sent as a W4 or equivalent by mail, fax or electronically.
There is a $500 penalty for conspiracy in Vermont.

The Vermont new hire-reporting agency can be reached at 800-786-3214 or 802-241-2194 or on the web at http://jobs.utah.gov/newhire/

Vermont does not allow compulsory direct deposit

Vermont requires the following information on an employee's pay stub:

Gross and Net Earnings
straight time and overtime pay
hours worked
itemized deductions


Vermont requires that employee be paid no less often than weekly; biweekly or semimonthly if employer gives notice.


Vermont requires that the lag time between the end of the pay period and the payment of wages to the employee not exceed six days; 13 under union contract.


Vermont payroll law requires that involuntarily terminated employees must be paid their final pay with in 3 working days and that voluntarily terminated employees must be paid their final pay by the next regular payday; if there is none, next Friday.


There is no provision in Vermont law concerning paying deceased employees.


Escheat laws in Vermont require that unclaimed wages be paid over to the state after two years.


There is no provision in Vermont law concerning record retention of abandoned wage records.

Vermont payroll law mandates no more than $3.35 may be used as a tip credit.


In Vermont the payroll laws covering mandatory rest or meal breaks are only that all employees be given a reasonable opportunity to eat and use toilet facilities.


There is no provision in Vermont law concerning record retention of wage and hour records therefor it is probably wise to follow FLSA guidelines.


The Vermont agency charged with enforcing Child Support Orders and laws is:

Office of Child Support
Agency of Human Services
103 S. Main St.
Waterbury, VT 05671-1901
(800) 786-3214
www.ocs.state.vt.us/

Vermont has the following provisions for child support deductions:

When to start Withholding? 10 days after receipt of order or next payday.
When to send Payment? Within 7 days of Payday.
When to send Termination Notice? Within 10 days of termination.
Maximum Administrative Fee? $5 per month.
Withholding Limits? Federal Rules under CCPA.



Please note that this article is not updated for changes that can and will happen from time to time.




About the author:

Charles J. Read, CPA has been in the payroll, accounting and tax business for 30 years, the last fifteen in private practice.
Mr. Read is the author of “How to Start a New Business.”

To find professional payroll service at a budget price go to www.PayrollonaBudget.com a paperless payroll company.

For a full service payroll bureau with CPA’s on staff visit www.CustomPayroll.com .

See an excerpt of Mr. Read’s interviews from William Shatners “Heartbeat of America” television show on the web sites linked above.


Article Source: http://www.Free-Articles-Zone.com

Payroll Texas, Unique Aspects of Texas Payroll Law and Practice

By Charles Read
There is no personal state income tax in Texas. Which means no withholding of State Income Taxes.

Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In Texas cafeteria plans are taxable for unemployment insurance purposes. 401(k) plan deferrals are taxable unemployment purposes.

The Texas State Agency charged with enforcing the state wage and hour laws is:

The Texas Workforce Commission
101 East 15th St.
Austin, Texas 78778-0001
512-837-9559
www.twc.state.tx.us/

You must file your Texas state W-2s by magnetic media if you are have at least 250 employees and are required to file your federal W-2s by magnetic media.


Except for taxes and student loans there are no garnishments in Texas. No creditor other than the IRS or one of the student loan collection agencies can take money out of your paycheck without your permission.

The agency that collects and pays unemployment benefits is the Texas Workforce Commission.

Its main office is in Austin, Texas. Their address is:

Texas Workforce Commission
101 East 15th Street
Austin, Texas 78778-0001
512-837-9559
www.twc.state.tx.us/


The unemployment rate varies based on your company's experience but the initial rate starts at 2.7% on the first 9000.00 of wages paid to an employee in the state.

There is no requirement in Texas for a company to carry Workers Compensation Insurance. Texas is the only state where it is not required.

Texas now allows mandatory imposition of Direct Deposit. The employer just cannot choose the financial institution the employee has the right to pick any financial institution that accepts direct deposits. There must be no additional fees to the employee for direct deposit.

Another unique aspect of Payroll in Texas is there is no provision in the State law for overtime. All overtime is governed only by FLSA if appropriate. So a purely intrastate employer in Texas does not have to legally pay overtime premium.

The state minimum wage in Texas is $5.15 per hour. It used to be well under federal rates.

In Texas you must pay at least semi-monthly except that FLSA-exempt employee can be paid on a monthly basis.

Payment on termination in Texas is six days for an involuntary termination and the next regular payday for a voluntary resignation

Texas requires the following information on an employee's paystub:

Employee's Name
Pay rate
Gross and net earnings
Amount and purpose of deductions
Hours worked or work done if piece work

Escheat laws in Texas require that unclaimed wages be paid over to the state after one year and 180 days if less than $100.00. The employer is further required in Texas to keep a record of the wages abandoned and turned over to the state for a period of 10 years.

Wages due a deceased employee are not covered by any provision in Texas.

Texas State new hire reporting requirements are that every employer must report every new hire and rehire. The employer must report the federally required elements of:

Employee's name
Employee's address
Employee's social security number
Employer's name
Employers address
Employer's Federal Employer Identification Number (EIN)


Plus they can optionally report

Date of Birth
Date of Hire
Payroll address for Child Support Notice

This information must be reported within 20 days of the hiring or rehiring.
The information can be sent as a W4 or equivalent by mail, fax or electronically.
There is a $25.00 penalty for a late report and $500 for conspiracy in Texas.
The Texas new hire-reporting agency can be reached at 888-839-4473 or on the web at www.newhire.org/tx

There is no provision in the Texas State Payroll laws covering mandatory rest or meal breaks.

Cafeteria Plan and 401(k) deferrals that are exempt from federal income tax are counted as taxable income for unemployment insurance calculation in Texas.

Texas requires magnetic media reporting of earnings and contributions for unemployment insurance purposes if the employer has at least 250 employees to report.

Texas has no State Income tax so no State W2's have to be prepared, distributed or transmitted to the state

Texas has the following provisions for child support deductions:

When to start Withholding? Immediately after receipt of order.
When to send Payment? Payday.
When to send Termination Notice? Within 7 days of termination.
Maximum Administrative Fee? $10 per month.
Withholding Limits? 50% of disposable earnings.



The Texas agency charged with enforcing Child Support Orders and laws is:

Child Support Division
Office of the Attorney General
300 W. 15th Street
Austin, TX 78701
512-460-6000
http://www.oag.state.tx.us/child/#services

States have different requirements for maintaining wage and hour records that vary from the two or three years FLSA requires depending on the type of record. Texas has no provision in the law concerning retention




About the author:

Charles J. Read, CPA has been in the payroll, accounting and tax business for 30 years, the last fifteen in private practice.
Mr. Read is the author of “How to Start a New Business.”

To find professional payroll service at a budget price go to www.PayrollonaBudget.com a paperless payroll company.

For a full service payroll bureau with CPA’s on staff visit www.CustomPayroll.com .

See an excerpt of Mr. Read’s interviews from William Shatners “Heartbeat of America” television show on the web sites linked above.


Article Source: http://www.Free-Articles-Zone.com

Payroll Tennessee, Unique Aspects of Tennessee Payroll Law and ...

By Charles Read
Tennessee has no State Income Tax. There for there is no State Agency to oversee withholding deposits and reports. There are no State W2's to file, no supplement wage withholding rates and no State W2's to file.


Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In Tennessee cafeteria plans are taxable for unemployment insurance purposes. 401(k) plan deferrals are taxable unemployment purposes.

Tennessee doesn't have income tax.


The Tennessee State Unemployment Insurance Agency is:

Department of Labor and Workforce Development
500 James Robertson Pkwy., 8th Fl.
Nashville, TN 37245-1200
(615) 741-2486
www.state.tn.us/labor-wfd/ui/ui.htm

The State of Tennessee taxable wage base for unemployment purposes is wages up to $7000.00.

Tennessee requires Magnetic media reporting of quarterly wage reporting if the employer has at least 250 employees that they are reporting that quarter.


Unemployment records must be retained in Tennessee for a minimum period of seven years. This information generally includes: name; social security number; dates of hire, rehire and termination; wages by period; payroll pay periods and pay dates; date and circumstances of termination.


The Tennessee State Agency charged with enforcing the state wage and hour laws is:

Department of Labor and Workforce Development
Division of Labor Standards
710 James Robertson Pkwy.
Nashville, TN 37243
(615) 741-2858
http://www.state.tn.us/


There is no provision for minimum wage in the State of Tennessee.


There is also no general provision in Tennessee State Law covering paying overtime in a non-FLSA covered employer.

Tennessee State new hire reporting requirements are that every employer must report every new hire and rehire. The employer must report the federally required elements of:

Employee's name
Employee's address
date of hire
Employee's social security number
Employer's name
Employers address
Employer's Federal Employer Identification Number (EIN)

This information must be reported within 20 days of the hiring or rehiring.
The information can be sent as a W4 or equivalent by mail, fax or mag media.
There is a $20.00 penalty for a late report and $400 for conspiracy in Tennessee.

The Tennessee new hire-reporting agency can be reached at 888-715-2280 or on the web at www.tnnewhire.com

Tennessee does allow compulsory direct deposit but the employee's choice of financial institution must meet federal Regulation E regarding choice of financial institutions.


Tennessee has no State Wage and Hour Law provisions concerning pay stub information.

Tennessee requires that employee be paid no less often than semimonthly.


Tennessee requires that the lag time between the end of the pay period and the payment of wages earned in 1st half of month, pay by 5th of next month; wages earned in 2nd half, pay y 20th of next month.


Tennessee payroll law requires that involuntarily terminated employees must be paid their final pay with in 21 working days or next regular payday and that voluntarily terminated employees must be paid their final pay within 21 days or by the next regular payday or by mail if employee requests it.


Deceased employee's wages of $10,000 must be paid to designated beneficiary; if none, then surviving spouse; children if deceased was female and head of household.


Escheat laws in Tennessee require that unclaimed wages be paid over to the state after one year.

The employer is further required in Tennessee to keep a record of the wages abandoned and turned over to the state for a period of 10 years.


There is no provision in Tennessee law concerning tip credits against State minimum wage.

In Tennessee the payroll laws covering mandatory rest or meal breaks are only that all employees must have a 30-minute meal period or rest during shift of 6 hours (not during first hour of shift).


There is no provision in Tennessee law concerning record retention of wage and hour records therefore it is probably wise to follow FLSA guidelines.


The Tennessee agency charged with enforcing Child Support Orders and laws is:

Department of Human Services
Citizens Plaza Bldg., 12th Fl.
400 Deadrick St.
Nashville, TN 37248-0001
(800) 838-6911
www.state.tn.us/humanserv/

Tennessee has the following provisions for child support deductions:

When to start Withholding? 14 days after mailing.
When to send Payment? Within 7 days of Payday.
When to send Termination Notice? "Promptly"
Maximum Administrative Fee? lesser of $5 per month or 5% of payment.
Withholding Limits? 50% of gross minus taxes and child's health insurance premium.




Please note that this article is not updated for changes that can and will happen from time to time.




About the author:

Charles J. Read, CPA has been in the payroll, accounting and tax business for 30 years, the last fifteen in private practice.
Mr. Read is the author of “How to Start a New Business.”

To find professional payroll service at a budget price go to www.PayrollonaBudget.com a paperless payroll company.

For a full service payroll bureau with CPA’s on staff visit www.CustomPayroll.com .

See an excerpt of Mr. Read’s interviews from William Shatners “Heartbeat of America” television show on the web sites linked above.


Article Source: http://www.Free-Articles-Zone.com

Law Of Attraction - A Basic Understanding

By Antonio Thornton
The Law of Attraction truly cannot be defined by any single definition. It has to do with energy and a force that's so powerful and so mystifying that words wouldn't do it justice.

Some definitions refer to the law of attraction as karma or the golden rule. You may have heard people say, "you get what you give…"; "what goes around, comes around…"; "karma"; "do unto others" and a host of others.

They're all right.

However, when I'm asked, "What is the Law of Attraction?", I like to summarize it in two 3-word phrases: "Like Attracts Like" and "Thoughts Become Things."

Like Attracts Like

Everything in the universe is composed of energy. If you were to take a peek inside your body, you'd see that you're made up of organs. With magnification, you'll see that your organs are made up of tissues. With even more magnification, you'd see that your tissues are made of cells; your cells are made of molecules; and your molecules are made of atoms. You may remember this from science class.

These atoms are made of even smaller ‘components' called electrons, neutrons, and protons. Here's where science class got a little fuzzy for me. At the time I learned this, we were taught that the electrons, protons and neutrons were the smallest units of matter and this is where things stopped. What they didn't tell us is that these ‘units of matter' are made of energy. More accurately stated, they ARE energy.

So in short, everything is made of energy. The computer you're using, or the newspaper you're reading this in…everything. And what's amazing is that these different energies have their own vibrational resonance. For this illustration, we'll call vibrational resonance "frequency" – just like a radio station frequency.

So as this energy is emitting its frequency, there are other energies that are on the same frequency and they tend to draw towards one another.

If you were to tune your radio to 101.9 you would only be able to hear what's on the 101.9 frequency, which is being emitted from the 101.9 radio tower. It's the same with energy.

Have you ever sat next to someone and you ‘just didn't feel right'? There may have been nothing ‘wrong' with the person, but for some reason you just felt uncomfortable. It was because at that time, your energy was on a ‘different frequency' as the person sitting next to you. Your energies clashed and it made you feel uncomfortable.

You will attract to you what you embody or what you are "like," in other words. If you're gloomy, you'll attract gloomy people. And if you're happy and cheerful, you'll attract happy, cheerful people (or at least, they'll become happy and cheerful because of YOU).

If you feel broke, you'll attract more of being "broke," because it's a match to you, to your energy. And if you feel prosperous, you will attract situations to help you be prosperous.

Thoughts Become Things

The other thing about the Law Of Attraction is that thoughts really do become things.

This can also be summed up more scientifically by the expression, "Energy is neither created, nor destroyed." So rephrasing the aforementioned statement, "If you put a loving a caring energy into the Universe, that same energy will be returned to you.

So the thoughts (energy) you put out will be returned to you (or ‘created' in your reality)

Everything starts as a thought. That computer you're reading this on originated, at its essence, as the thought of Konrad Zuse, who invented the very first working programmable computer in 1941. Others, like Steve Jobs, believed computers could be accessible to anyone in their homes. And Zuse and Jobs began to manifest those realities for themselves before most thought they were "possible."

LOA is at the essence of everything that exists today. When you think of something you want AND you believe it can come, you will attract it to you. It will ultimately become your reality.






About the author:
"Have You Seen The Secret? Are You New To The Law OF Attraction? Antonio
Thornton is an author, speaker and coach on Law Of Attraction and
Psycho-Cybernetics. Antonio's straight forward, ""practical-application""
approach has helped hundreds of people change their lives, simply by
changing their thinking. Visit the ThinkBanc blog today
http://www.antoniothornton.com/law-of-attraction!"


Article Source: http://www.Free-Articles-Zone.com

THE SECRET - How it Applies to Real Estate Investing

By Charrissa Cawley
Not getting results in your business? Are you just starting out as a real estate investor? Maybe you’ve been working at it for awhile and attended every seminar out there, read every book and you are still not getting the results that you were hoping for? Whatever your situation is with your business, there is one thing that you need to learn and understand in order to succeed; and that is “The Secret”.

The Secret is really quite simple, and this is not a new concept. In fact, it has been around since time began. The Secret is simply the law of attraction. The law of attraction is the law that determines exactly what you will get in your life because like attracts like. Your thoughts, the things that you desire, and the circumstances that you think about and feel, are the things, feelings and circumstances that you will attract in life. Like a magnet, you are attracting everything in your life with the thoughts in your own head. Your thoughts directly affect your actions and your actions affect your bottom line results.

The law of attraction is one of the most powerful laws in the universe. The law of attraction says that you attract everything that happens in your own life and the results that you have had up until now as well as the results that you will have in the future. Everything that is occurring in your life is due to this powerful law of attraction.

So, how can you apply The Secret and the law of attraction to your career and your real estate investing business? That’s very simple. Whatever you want out of your business, you can achieve once you have accepted the power that you have in your own mind.

You can apply the laws to your real estate investing business. Visualize your future living the lifestyle that you desire. Picture yourself living in that incredible dream house that you want, being able to afford that sports car that you have always wanted, and having the ability to send your children to the best private schools. Visualize your real estate business giving you everything that you want out of life. Whatever you want out of life, whatever wealth and prosperity looks like to you, picture it, visualize every last detail of it, and most importantly, believe it.

Once you have a picture in your head and are able to visualize yourself in the exact situation that you want, you must believe that you will achieve it and start to behave as if you are already living that life. The feelings that you put out about your future, will attract those feelings into existence because of the law of attraction.

Now that you know what you want to achieve with your real estate investing business, start small by focusing on your next property acquisition. Visualize the exact details and the type of property that you want to find. Focus on what it looks like, where it is located, what the neighborhood looks like. Visualize the monthly passive income this property will bring into your life and what this income will do for you and your family.

Believe it or not, because of the law of attraction, the universe will actually rearrange itself in order to bring your thoughts into existence, and that is the power of The Secret. What you call into existence, the thoughts that you put out, will attract more of the same to you. You may not know how it is going to happen, but you do not need to worry yourself about these details. You need to trust yourself and your instincts because the law of attraction is a powerful law and you will attract what you are projecting.

You might even surprise yourself when you find that perfect property, the one that you have been visualizing. But realize that this is not a coincidence; it is the law of attraction at work.

The Secret can be used when it comes to every aspect of your real estate investing business. Are you looking for a buyer for one of your properties? Visualize that buyer writing you a check for the amount you are hoping to sell the property for. Are you planning a renovation on a property? Visualize the details and how it will look when you are finished; imagine how it will feel when you rent the property to those perfect tenants.

Take this a step further and start applying The Secret to all aspects of your real estate investing business. Do you see yourself owning hundreds of properties, or only a few? Visualize what you want from your business, focus on it, and live your life as if your business has already reached the level that you expect of it. The law of attraction will deliver to you, exactly what you expect. Before you know it, after applying these principles to your life, you will be living the life you always dreamed of, all because of knowing The Secret.

Trust me…These principles have changed my life and if you look at this as if it’s hokey, it’s too good to be true, it’s ridiculous, you will continue to get what you have always gotten and never get from where you are now to where you wish to be. However, if you are open-minded and simply apply these laws in your own life, you will be blessed beyond your dreams. Try it and see for yourself!

About the author:
Charrissa Cawley, founder of www.reiconferences.com, began her career in the pharmaceutical arena of corporate America in 1995 and switched to real estate when she discovered she could make more money, in less time, than she ever could working 10 hour days for someone else. Cawley offers accurate and proven real estate strategies to investors of all different levels. With seminars, mentoring programs, real estate sales, her own products and a book coming to stores soon, she specializes in educating her clients on creating wealth through "Unconventional Real Estate Investing". To learn more, visit www.reiconferences.com

Article Source: http://www.Free-Articles-Zone.com