Tax Policy & Finance

Best Protection from Wage Garnishment Risks

If a wage garnishment is mishandled, employers can become directly liable for their employee’s judgment debt, which could potentially be a five-figure sum. When you add this to the regrettable truth that Michigan is near the top of the list for the volume of wage garnishments issued to collect judgments from the debtor’s employer, the result is that Michigan businesses are at significant risk.

What can you do to minimize the cost and reduce the risk posed by wage garnishments?

Senate Dems Propose Massive UI Benefit Increases; Chamber Strongly Opposed

Legislation introduced last week would massively increase the 100 percent employer-financed unemployment insurance (UI) weekly maximum benefit amount and dependent allowance. It would also compensate those harmed by false fraud allegations. These changes could more than double an employer’s maximum exposure for a former employee, increasing potential benefit charges from $7,840 to $14,060 per claimant. While not contemplated by the legislation, there is no doubt that this legislation would lead to sharp UI tax increases on employers.

What Does Interchange Optimization Really Mean?

We are often asked what Interchange Optimization really means and the impact it has on a company’s bottom line. The answer is complex, but at its core, Interchange Optimization is based on industry-specific program requirements that were created by the card brands (Visa, MasterCard, Discover, AMEX).