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My main curiosity has to do with interest. If they implement this procedure at several businesses with a dozen or more employees each. Depositing these excess witholdings in a high yield account in order to accrue interest . They would be using money that should have been in my pocket as capital...
My former employer in Colorado, USA uses a payroll method ive never heard of. Every week they cut hand written checks that are considered to be advancements for hrs worked minus 20% "estimated" tax withholding. The excess funds are held until the end of the month when their cpa does the actual...
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