02/20/2012
Employers that use the standard mileage rate to value employees’ personal use of company vehicles are restricted to supplying them with vehicles of modest value. For 2012, the value of company cars that qualify for the standard mileage valuation method is $15,900.
02/19/2012
Q. A new employee was mistakenly paid through Accounts Payable for January, so no federal or state taxes were withheld from his pay. It’s still early in the year, so we’d like to take out the taxes that should have been withheld from later wage payments. But we don’t want to leave him with no net pay. According to our calculations, it should take us two months to withhold the additional taxes. Is this OK?