That is the state by state thing,
It is not practical to pay employees every hour...follow them around feeding cash as they work etc. So some time is allowed to collect the time sheets, compose and write the checks and distribute them to local offices for distribution to employees.
That is not retainage.
For contractors there is advances against commission, bonds of various kinds for various reasons. Employees get paid. They get promoted and paid more for good work sometimes. They get fired for poor work sometimes. All deductions are agreed to by the employee....and the bonuses, benefits ,,,including the company picnic.
Joe
Re: being a w-2 employee and retainage
Member #: 66409
Registered: 2/26/2009
Posted:
991
Name:
joe diamond
Name:
Joe Diamond
Company:
phone & dtv contractor
Occupation:
installer
Location:
east MD
Personal:
late 70s
Experience:
~32 years
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