Do you need to report these forms of employee compensation?
The majority of — if not all — employers understand that they must report the salary, overtime pay, and bonuses that their employees receive as compensation for the jobs they …
Major Overtime Change Will Deeply Affect Employers
According to a Department of Labor release, a newly issued rule increases the salary threshold required to exempt a salaried bona fide executive, administrative, or professional employee from federal overtime pay …
New Independent Contractor Rules: Do They Affect Your Employees?
The Department of Labor’s final rule for employee or independent contractor classification under the Fair Labor Standards Act rescinds the 2021 Independent Contractor Rule, replacing it with guidance on analysis …
New Colorado Laws Impacting Business Owners and Individuals
Effective January 1, 2024, several Colorado laws were ushered in, including minimum wage increases and changes to paid leave. Minimum Wage Colorado’s minimum wage was boosted to $14.42 per hour, an …
IRS Publishes Income Tax Numbers for 2024
It’s never too early to think about taxes! The IRS has already issued numbers to help you understand what the 2024 tax situation will be like. Below is a summary. …
IRS Puts Brakes on ERC Processing
According to the IRS, a moratorium on processing of new ERC claims through year’s end will allow IRS to add more safeguards to prevent future abuse and to protect businesses …