Employee Expenses: How to Stay Compliant
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Learn about the different types of employee expenses, what needs to be reimbursed, and the legal issues that may arise.In today's business environment, it is imperative to ensure the business is compliant with employee expenses. When an employee incurs expenses on behalf of your business, how should they be reimbursed and what qualifies as a reimbursable expense? It is a morale issue, an ethical issue, and has legal considerations. Under the federal law, it is required for employers to reimburse employees to ensure that any expenses incurred by them does not bring their take home pay below the cost of minimum wage, calculated as the net amount an employee collects after any costs they incur that are necessary for business. Failure to reimburse employees adequately can open your business to lawsuits and financial penalties under the Fair Labor Standards Act (FLSA). And there are state requirements that you will have to review as well. In topic, we will spend our time discussing the federal law and IRS code. This information will help you be able to find out what type of employee expenses there are and what needs to be reimbursed as well as the legal issues arising out of employee expenses.
AuthorsJackie A. Sexson
• What Is This?
• Why Is This Important?
Employee Expense Policy
• Topics for This Type of Policy
• How Much Detail Is Needed?
• Recent and Upcoming Policy Changes
Issues Arising From Employee Expenses
• Employee Expenses Scams and How to Avoid Them
• How to Keep Expense Costs Down
• Common Expense Mistakes
• Proper Documentation