Deducting the Cost of Lost Equipment from an Employee’s Pay

Deducting the Cost of Lost Equipment from an Employee’s Pay

IRS Information, Payroll Tips
  Can you deduct the cost of lost equipment from your employee’s pay?  As a business owner I'm betting that on more than one occasion you have had an employee who has lost his company provided cell phone more than once and you've have to replace it.   Perhaps you want to recover the cost of the phone via a payroll deduction - before you do, read the rest of this great article from HR Matters E-Tips, because the answer depends first on state and federal restrictions and second on how much you want to deduct. Both federal and state laws limit the deductions employers can take from their employee’s wages.  The federal Fair Labor Standards Act (FLSA), which requires minimum wage payments and premium overtime pay for covered employees,…
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