We’ve scoured the internet so that you don’t have to. Consider this our monthly roundup of relevant news articles and thought leader pieces to get your wheels turning.
In this moment of Omicron-fueled uncertainty — filled with closures, sickouts, postponements — workforces are craving clarity and connection. So even though many of us aren’t working onsite, we could really use a good offsite to start 2022, perhaps more urgently now than ever.
So before you cancel that meeting or team-building exercise, consider the following ways it might still go on, and how.
Business Owners Using Sites Like PayPal or Venmo Now Face a Stricter Tax-Reporting Minimum of $600 a Year
Since the beginning of the new year, Venmo, PayPal, and other so-called peer-to-peer payment platforms are required to report income to the IRS if a user accumulates at least $600 in business transactions a year. Previously, the reporting requirement kicked in if someone received more than $20,000 from at least 200 business transactions annually.
The IRS issued procedural guidance regarding determinations by the Service that a worker is properly classified as an employee of an employer rather than an independent contractor.
The distinction carries significant employment law and tax ramifications. The latter include that a person for whom services are performed must withhold from employees’ wages and remit employment taxes (generally, Social Security or Railroad Retirement, Medicare, and unemployment taxes) and income taxes but has no such obligation with respect to individuals who are not considered employees, i.e., independent contractors.
Many employees are on the move, looking for that next opportunity. But what if they leave your company and realize the new opportunity wasn’t as great as they thought, or they left years ago, gained new skills, and now want to come back? Should you hire them?
Rehiring a former employee, known as a boomerang, may seem like the easy answer because they already know the company culture, business nuances, and people, but there are several reasons why they might not be the right person for the job. Here are five questions managers should ask themselves before hiring a former employee.