Vernal Equinox is the first. Vernal Equinox is the first day of Spring based on astronomical data. The same applies to other astronomical seasons, it may not feel at all like Spring, but the position of the Sun and the Earth dictate the astronomical time frame, not the weather conditions in a particular area.
For tax purposes, interest must be recognized annually on the amount of the loan at the stated rate. If there is no stated interest rate, or a below-market interest rate in the loan agreement, then interest must be calculated at the applicable federal rate.he forgiveness of any loan to an employee by Washington University is taxable compensation to the employee. The payment of the balance due of an employeeâs loan by the University is taxable compensation to the employee.
If the H&W increase is paid directly to employees, it is considered . taxable wages. The Contractor will incur an accompanying expense in FICA, WCIand possibly FUTA and SUTA. If H&W is paid to a third-party provider, Contractor incurs no increase in payroll taxes so no FICA or WCI adjustment is due on the H&W increase FICA and WCI adjustment are due on the H&W amount when H&W is paid directly to the employees.