Category: Tips For Individuals (page 5 of 5)

New York State Minimum Wage Laws

 

Minimum Wage Act (General Employment)
 
The General Industry Minimum Wage Act states that employers must pay all employees in New York State, including most domestic workers, at least $9.00 per hour as of December 31, 2015.
Certain requirements set under regulations known as “wage orders” may modify the basic rate.
Wage orders are provisions of the minimum wage law that cover jobs in:
  • The hospitality and building service industry
  • Miscellaneous industries and occupations
  • Farming
They set an hourly rate plus overtime and allowances in four General Industry Wage Orders, based on meals and lodging supplied by an employer.
Some industries make allowances for tips; thus they set a lower hourly rate. For example, as of December 31, 2015, food service workers may earn $7.50 per hour if they earn $1.50 per hour in tips. Other service workers have a minimum rate of $7.65 or $6.80 per hour, depending on the amount of tips earned per hour.

You can get these Documents, Forms and Publications at:

NYS Department of Labor

Employers must post a Minimum Wage Information poster in their place of work.
Download file below:

How do I know if my contributions are deductible?

How can I find out if an organization is tax-qualified? What are some examples of deductible contributions?

You can visit the NYS Charities Bureau to search for registered organizations.

Some examples of deductible contributions include:

  • Checks payable to qualified organization
  • Collection plate contributions substantiated by a charity
  • Credit card donations
  • Charity benefit events
  • Withholding from wages for charitable purposes
  • Donations of:
    • Stocks
    • Real estate
    • Motor vehicles, boats or planes
    • Household items and clothing
    • Business equipment
    • Books, electronics, appliances, and furniture

*Please note you should obtain a letter of receipt for any donation over $250 and there are specific rules to each deductible item listed above.

How do I fill out a W-4 form?

I’m starting a new job and I don’t know how to fill out the W-4 Form so they can deduct from my paycheck. How can I get help?

The W4 Form is used to determine how much federal income tax to withhold from the employee’s wages. The IRS has set up a Withholding Calculator to help ensure individuals do not have too much or too little income tax withheld from their pay.

Is my vehicle a deductible contribution?

A qualified vehicle is defined as a car/motor vehicle (used mainly on roads & highways), boats and airplanes.

If you donate a qualified vehicle to a qualified organization and your donation is worth more than $500, you can donate depending on the following scenarios:

  • If your vehicle is to be re-sold by a qualified organization, you can deduct the gross proceeds from the sale of the vehicle.
  • If your vehicle is to be used by a qualified organization to fulfill their charity work, you can deduct the vehicle’s fair market value on the date of the contribution. You can find your motor vehicle’s worth at Kelley Blue Book.

How can I find out what my used items are worth?

What are some typical itemized deductions that I can claim on my income tax return?

Some typical itemized deductions include:

  •  Mortgage and equity interest
  • State and local taxes
  • Charitable contributions
  • Real estate taxes
  • Un-reimbursed medical and dental expenses
  • Casualty and theft losses (e.g. fire, hurricane, tornado)
  • Un-reimbursed job expenses (e.g. job travel, union dues, job education, etc.)
  • Gambling losses (to the extent of the gambling income)
  • IRA custodial fees
  • Investment counsel and advisory fees

*Please note: There are limitations on many of these deductions.

How can I check on the status of my tax refund?

Visit these websites to check the status of your state or federal tax refund. This information is typically available 2 – 3 weeks after you file by mail, or 72 hours after you file electronically:

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