to be used for any presonal finance question related to employment. Related tags are "Self-employment, unemployment, employment-law

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1
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0answers
49 views

Claim tax relief on purchase in UK as full time employee

As a full time employee in an I.T. company can I claim tax relief on purchases related to my job? My employer does not provide a laptop so I was considering buying one myself and was wondering if ...
2
votes
2answers
231 views

Employer is making a student loan payment on my behalf. Does this need to be claimed as personal income?

As an incentive to employment my company is making a large lump sum payment towards my student loan debt, lets for this example say $5,000 (the real amount is different). They have inquired about my ...
5
votes
4answers
348 views

Should I get a bank account since I recently got my first job?

I'll be starting work this Friday (yay!) and haven't got the slightest clue about any of this. It'll be washing dishes at a restaurant, and I really don't know anything. Do I set up a bank account ...
2
votes
2answers
90 views

Relocating for first real job out of college?

So a little bit of back story - I am about 6 months out of college, worked through most of it in fast food and retail, and have only been working in a job related to my field (computer science) for ...
4
votes
2answers
78 views

How is my employer affected if I have expensive claims on my group health insurance?

Suppose, for the sake of discussion, that I work at ACME, Corp, a USA company. As part of my compensation, ACME makes me a member of their group health insurance through Aetna, a USA health insurance ...
14
votes
2answers
1k views

As an employee, when is it inappropriate to request to see your young/startup company's financial statements?

If you work for a young company, equity in the form of restricted stock or options is often a form of compensation and a way to keep you aligned with the company's goals. But as a new employee you ...
3
votes
1answer
54 views

Income Tax on Employer Provided Educational Assistance

My employer is helping me pay for my Master's Program in Computer Science. My employer has included the reimbursements (about $2,000) to me for my schooling within my wages on my W-2. Since I ...
2
votes
1answer
82 views

Tax Self Assessment for (UK) Employees

I have a job with a company but rather than paying me through the PAYE system they want me to provide them invoices for my hours and then I am paid directly. I have a couple of questions about this. ...
3
votes
2answers
137 views

Nanny taxes and payroll service

We are employing a nanny for our 6 month old. What service do you recommend for managing taxes and payroll? Is it possible to do on our own? If so, where do we start?
2
votes
2answers
70 views

Pre-Tax Plan Election - Employers Benefit Plan

Looking for advice on whether it makes sense to accept participation in the Pre-Tax Plan where your employer is authorized to reduce your income as necessary to pay your share of the cost of the ...
2
votes
3answers
544 views

Should I invest in the pre-IPO company stock offered by my employer?

Should I invest money in the pre-IPO stocks soon to be offered by the company that I work for? Is it wise to do this? What should I be thinking about? What are the risks? I'm one of the first ...
0
votes
1answer
47 views

Where can I find information about the relationship between the owner of a company and its business administrator?

Through the past years, working as a employee, I have managed to save some money and now I want to buy a company. I chose a restaurant, because I already have experience in this area. However, I do ...
0
votes
1answer
96 views

Employer changed my Roth 401k to a traditional 401k. Can they do that?

My HR lady changed my Roth 401K to the traditional 401K without asking me and told me to correct it on my login with ADP. I don't want the traditional 401K. Can they force me to do the ...
-1
votes
1answer
54 views

Will life insurance be a problem if I go from full time to contract and back to full time?

Currently, I have life insurance through my employer. If I leave the company and become an independent contractor, then after 2 years go back to full time with another employer that also offers ...
13
votes
4answers
5k views

W2 vs 1099 Employee status

I've in the middle of an offer for employment. During negotiations, I've asked for more money due to distance involved (Further by far than I'd normally consider, but the pay raise I'd get is ...
1
vote
2answers
152 views

How to enable my employer to pay for resident taxes/FICA they did not deduct from paycheck

As I mentioned in this question (Can my employer adjust FICA contributions on payroll they have already processed?), my first paycheck (after a sabbatical) in the first two weeks of February did not ...
5
votes
2answers
330 views

How do I handle taxes on a very large “gift” from my employers?

My husband just received a $700,000 "gift" from the partners at the organization he has worked for for over 13.5 years. These particular partners sold their share of the partnership, making an ...
13
votes
3answers
765 views

Why would you not want to rollover a previous employer's 401(k) when changing jobs?

Are there any valid reasons to not rollover a former 401(k) when changing jobs? I have several little ones that I never quite got around to rolling together - with an upcoming job change, should they ...
2
votes
2answers
286 views

Why don't the employment rate and unemployment rate sum up to 1?

According to Turkstat, the Turkish employment rate was 44.9 and the unemployment rate was 10.1 in December 2012. I would expect the unemployment rate to be 1 - employment rate. How are those numbers ...
1
vote
2answers
142 views

Considerations for taking a sizable break from working

The Proposition From time to time, my wife and I consider the "foolish" idea of leaving our jobs (and, likely, careers) and taking a sizable chunk of time off from working, or at least working in the ...
4
votes
1answer
235 views

Paying UK tax when working remote for a US company

I'm currently employed by a US company and I'm working remotely from the UK (I'm a UK resident). In my previous employment tax was deducted automatically from wage however tax isn't being deducted ...
17
votes
6answers
10k views

Can my employer limit my maximum 401k contribution amount (below the IRS limit)?

I contribute about 13% of my income to my company's 401k, which, at my salary, is well below the IRS limit of $17K/year (in 2012). However, with my raise this year, my benefits department told me that ...
12
votes
9answers
582 views

Why is retirement planning so commonly recommended?

I'm just graduating college, and I'm starting to educate myself on economics, finance, and investing, and everything I see is sort of screaming at me "PLAN YOUR RETIREMENT!!" Now, I know this sounds ...
6
votes
2answers
743 views

Non-qualified Savings Plan vs. 401(k) for Highly Compensated Employee

Late last year, I started a higher-paying job than I've ever had. Today I got a letter from my employer's benefits department and Fidelity telling me that I'm expected to pass $115,000 in ...
6
votes
1answer
247 views

Lower withholding based on my calculations. How to get employer to change withheld amount?

My employer will withhold taxes from my paycheck as if I have been working at a particular salary range all year. Basically: pay period = (base salary / 2080 hours) * 80, and taking all taxes as a ...
7
votes
2answers
332 views

Hiring a teenager as a household employee

What am I required to do if I hire a 14-year-old for household work? Any generic information is welcome, but I'm in New York State. Here are some things that come to mind: Do I need to have the ...
2
votes
2answers
3k views

FHA Loan - Less than 2 years employment history

Background: I & the wife are looking to buy a house priced at $250k via an FHA loan. One of the requirements for the loan is that we have a 2 year continuous employment. I have a 1 year gap in ...
3
votes
1answer
190 views

Can a recruiting agency demand information to file an I-9 before I have a job?

I was contacted by a recruitment agency over the phone and we decided to meet in person before they search for a job for me. They sent me an email asking me to bring a driver's license or US Passport ...
3
votes
1answer
293 views

Does your employer have to hold back taxes on your paycheque?

I've been looking at ways to increase the amount of liquidity that I have on a day-to-day basis, and notice that I have quite a fair amount of my bi-weekly paycheque going right to taxes that I'm ...
5
votes
3answers
902 views

I'm about to be offered equity by my employer. What should I expect?

I'm not expecting to potentially be screwed over in any way (this is being given to me alongside a raise and a promotion so it's more of a cherry on top.) I was told in passing that I'll be vested at ...
5
votes
5answers
539 views

For the first time in my life, I'm going to be making real money…what should I do with it?

So I'm a college junior taking on my first actual paying internship this summer. I'll be making between $3000-$5000 a month. I know NOTHING about investing money, or what I should do with money ...
4
votes
1answer
175 views

Biweekly Paycheck

Is it legal to get paid for the previous two weeks all the time. For example for your paycheck for may 15 will be for April 15 thru the April 30?
2
votes
1answer
772 views

What happens to CPP/EI when you change employer?

What happens to your CPP/EI contributions when you change jobs? Is your portion of the contribution carried over to the new employer? Are there any taxes involved?
5
votes
6answers
1k views

Changing jobs as a strategy to build a good income?

In most professions, it seems that when you change jobs, you are eligible for a pay hike (at least up to a certain ceiling amount). My questions are: Is this a viable long term strategy to ...
5
votes
3answers
203 views

What economic growth rate is required to halve U.S. unemployment?

I've just completed a consulting project in South Africa looking at various economic inputs required to reduce their 25-35% level of unemployment. It is estimated that for every 1% of new jobs ...
15
votes
3answers
510 views

Quit my job: What can/should I do with funds in previous employer's 401(k) plan?

I recently changed jobs, and my previous employer offered a 401k. I know I can roll that money into an IRA. Before I do anything, I would like to understand what options I have, and which option is ...
5
votes
3answers
613 views

What questions to ask a prospective employer when receiving a job offer?

What questions to ask a prospective employer when receiving a job offer?
19
votes
6answers
13k views

Why do consultants or contractors make more money than employees?

Why do consultants or contractors make more money than employees?
12
votes
11answers
9k views

In the U.S., do you get paid for vacation days untaken when you leave a job?

In the U.S., do you get paid for vacation days untaken when you leave a job?
1
vote
2answers
843 views

On Canadian Employment Insurance (EI) do you have to wait 2 weeks for benefits due to a surgery?

I have to go on Employment Insurance (EI) because I am having surgery and was wondering if I still have to wait the 2 week waiting period they make you wait until you can receive benefits or do they ...
4
votes
1answer
771 views

Can my employer increase my hours without increasing my salary?

Can my employer increase my hours without increasing my salary?
7
votes
4answers
895 views

Can I ask my employer if I can work as a contractor instead of an employee?

Can I ask my employer if I can work as a contractor instead of an employee?
6
votes
1answer
336 views

Can I deduct equipment that I'm required to purchase by my employer?

If my employer requires that I own a laptop and other computer equipment, but does not provide them, am I able to deduct the expense of purchasing the equipment? I know that I definitely would deduct ...
5
votes
1answer
99 views

How to Transition From Employee to Employer?

I know Making the transition from employee to employer requires financial stability, a good business plan, self-confidence and a lot of discipline. But i am looking for some instructions/tips from ...
6
votes
4answers
412 views

Is it legal to hire people to generate traffic on a website?

Why do websites need to do that? It's all written in the title. Thanks in advance for any information on this.
12
votes
4answers
2k views

Offered a job: Should I go as consultant / independent contractor, or employee?

Two partners started a business, and it's grown pretty big (comparatively). Now they've asked me to be the CTO, and I've determined it's a good position for me to take. I'll be getting 90% of my ...
11
votes
3answers
735 views

How important is disability insurance, e.g. long-term, LTD? Employer offers none

How important is it to have disability insurance? My employer does not provide it. I work in the web development business.
4
votes
2answers
154 views

There have been many studies on the differences in earning-power between men and women. Have similar studies been done for race, religion or sexual orientation?

I'm curious to know if there are similar biases in the workplace - if anyone's dared to document it.
10
votes
2answers
216 views

When changing jobs, how can you protect yourself?

Say you have a job, its pretty stable but you want to move on up, so you apply for another one. You do well at the interview, and are offered the job, so you hand your notice in. In the last week of ...
8
votes
2answers
190 views

Do there exist legitimate Work-from-Home job opportunities? Is there a website that lists them?

I'd like the ability to supplement my income when I need to, and a job that I can do remotely from home is ideal. Surely in this era of "going green" and "reducing our carbon footprint" there exist ...