Wednesday 3rd September, 2014
12:00pm to 1:30pm
The Consumer Credit Protection Act is designed to ensure fair and proper treatment of people with debts. Garnishment orders include creditor debt to child support.
What if your employee has more than one garnishment order or declares bankruptcy because they are overwhelmed by their situation? How does the employer handle the situation? How do the garnishment orders get prioritized? What if the amount adds up to more than the employee can bear? What are the limits on take home pay and disposable earnings? What if an ex-employee fails to cash their paycheck and you have lost touch with them?
Garnishments are a real thorn in the side. They take excessive amounts of time to process and execute accurately. The boss just wants to fire the employee who loses control of their finances for wasting precious company resources. But we can’t do that nor can we? Join us to learn just what the obligations and limits are on how many garnishments your employer is required to manage for a single employee and how to process them quickly and efficiently. Also get a handle on how to communicate efficiently with the courts and collection agencies.
Why Should you Attend:
Join Miles Hutchinson, CPA, CGMA to quickly ramp up on this complex law. Learn how to prioritize all the garnishments against your employee’s wages. Find out how the states upset the priority rules in certain situations and how to keep track of the differences. Learn about valuable resources to help you track garnishments and communicate with the courts while helping your employee avoid living out of their car.
Objectives of the Presentation:
What is a garnishment?
Participate in a review and prioritization of the different types of garnishments
When must companies process garnishment orders and may they terminate an employee for these problems
Useful tables, charts and other key references for applying the withholding rules and limitations
Determining disposable earnings and take home pay
Why are there different bases for calculating different garnishments
How to prioritize multiple garnishment orders served on the same employee – the rules may surprise you
Exceptions to withholding – how to communicate with the source of the garnishment order
What are the proper procedures for dealing with unclaimed wages.
Who can Benefit:
Information Reporting Officers
Miles Hutchinson is a CPA and experienced businessman. He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company. Miles is a professional speaker and consultant who has presented over 2,000 seminars and training sessions on a myriad of business and financial topics, like financial analysis and modeling, accounting, strategic planning, and compliance with the Sarbanes-Oxley Act.
He has over 35 years of practical experience in strategic planning, analysis and reporting. He is the author of several useful reporting and tax tools available at www.soxpolicies.com and www.salestaxadvisors.com. His clients include, Abbott Labs, Bank of America, Boston Scientific, Citicorp, Corning, the FBI, the FDA, the Federal Reserve, GE, Pfizer, Siemens, US Marine Corps, and the US Army. Please visit his web sites to see how you can further benefit from his expertise.
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