Guaranteed Income Has Come to New Orleans

The coronavirus crisis has devastated Americans throughout the country. Millions have lost their jobs in the pandemic, and many who once had savings to fall back on now have nothing.

Recently, lawmakers signed a $900 billion coronavirus relief bill that includes boosted unemployment benefits and $600 stimulus checks. But that may not be enough to help struggling households dig out.

It's for this reason, among others, that one city is taking matters into its own hands. New Orleans is rolling out a guaranteed income program. If it proves successful, it could help residents get closer to attaining financial security. READ MORE

Why this manager put workers in charge of their own raises, career development, and reviews

One of the responsibilities Casey took off his plate is evaluating performance and assigning bonuses. Previously, he was tasked with rating employees between one and five and distributing money accordingly. Taking his new lazy approach, Casey assigned everyone a three by default. He told the team, “I’m only going to talk to you if I think you deserve less than that, and I will tell you why. If you think you deserve more, come tell me.” READ MORE

What Are the Highest Income Tax Rates by State?

When you earn money in the United States, the federal government requires you to report it and, generally, to pay income taxes on it. Depending on where your live, your state may also collect taxes on your income. In fact, while there are seven states that don't charge personal income tax, the majority of them do ask for a cut of your earnings. 

Of those states, there's wide variation in the amount you may have to pay. Since this can profoundly impact how far your money goes, its helps to know how your home state stacks up. To figure that out, check out the highest income tax rates by state.  READ MORE

Apple CEO Tim Cook’s pay jumped in 2020 as remote work lifted profit

Apple Inc. said it exceeded its internal financial targets in the past fiscal year, resulting in the company paying out 179% of the targeted bonuses for named officers.

For Chief Executive Tim Cook, that meant his cash bonus rose 40% last year to $10.7 million, Apple said Tuesday in its annual proxy filing with the Securities and Exchange Commission. His bonus had taken a 36% hit in 2019 when his pay package fell as revenue and profit declined tied to weaker iPhone sales. READ MORE

Pay transparency can address gender wage gap better than alternatives

Pay inequality issues across gender and racial lines are seeing increased attention amid the coronavirus pandemic and its disproportionate impact on women and nonwhite individuals. Transparency has been linked to fixing the gender pay gap in multiple previous studies, including one from Payscale in January 2020 and a 2019 study from three researchers at three universities that found that government transparency mandates were effective as well. READ MORE

How to pay your employees fairly

Are you being paid fairly? I need an honest answer.

I’ll go first, and if I’m being totally honest: In 20+ years doing startup, I’ve been underpaid way more often than overpaid. I’m willing to bet your answer is similar. I used to think salary didn’t matter, because I love what I do. But along the way I’ve learned that it’s critical to get employee pay right from the beginning. READ MORE

What to Do When Your Equity Compensation Is Granted and Vested

If you are on the receiving end of an equity compensation award, you may be overwhelmed by the amount of new information, jargon, and rules coming your way. You might also feel uncertain about how new equity grants and vesting schedules should fit into your existing financial plan.

To begin, you can start by focusing on a few fundamentals about how your specific benefits work. Regardless of what kind of equity compensation you have, two critical components to understand will be grant dates and vest dates. READ MORE

SEC Adds Its Voice to Those Looking for “Equity”-ble Treatment of Gig Workers - New SEC Proposal Modernizes Rule 701 and Form S-8

The Securities and Exchange Commission (the “SEC”) recently proposed temporary rules that would permit companies to offer equity compensation to “platform workers” who provide services available through the company’s technology-based platform. The proposed changes would amend Rule 701 promulgated under the Securities Act of 1933 (which permits non-reporting companies to issue equity compensation to employees) and Form S-8 (which permits simplified registration by reporting companies of securities to be issued as equity compensation). READ MORE

GE Won’t Try to Claw Back Jeff Immelt’s Pay

General Electric Co.’s board won’t claw back compensation from former CEO Jeff Immelt and other executives over GE’s accounting issues or Mr. Immelt’s use of a backup corporate jet, ending a three-year probe into allegations of misconduct at the conglomerate.

The investigation didn’t find evidence to support shareholders’ claims of fraud and abuse, and pursuing litigation against former leaders wasn’t in the company’s interest, according to the law firm that GE’s board hired to run the process. READ MORE

Reporting Non-Employee Compensation: A Year of Change

The IRS has made significant changes as to how non-employee compensation must be reported. In the past, compensation of $600 or more paid to non-employees for services in the course of a trade or business was reported on the Form 1099-MISC. But, compensation of $600 or more paid to non-employees in 2020 and subsequent years is now required to be reported on the Form 1099-NEC. All organizations — including government agencies — that hire independent contractors should take note of this change because it affects how compensation is reported. READ MORE

Raising federal minimum wage amid coronavirus will be a ‘disaster’ for US business

Former CKE Restaurants CEO Andy Puzder believes that raising the federal minimum wage to $15 an hour would be disastrous for businesses, especially those suffering amid the coronavirus pandemic.

“Increasing labor costs for these businesses will be a disaster,” he said on FOX Business' “Varney and Co.” “Can you imagine what this $15 minimum wage would do at a time when we're seeing tens of thousands of small businesses close?” READ MORE

Director Pay Remains a Prime Target of the Plaintiffs’ Bar

There are many benefits to being a corporate director, both professionally and financially. But there are many challenges as well, including the prospect of stockholder litigation. These benefits and challenges sometimes intersect—as in the area of non-employee director compensation. For although directors typically have the authority to determine their own compensation, what could be considered the self-dealing nature of that determination can expose them to claims that they breached their fiduciary duties in the process. READ MORE