Category
Business Expenses
DOL Increases Salary Level for Exempt Employees (coming July 1, 2024)
Last week, the U.S. Department of Labor (DOL) issued its much-anticipated final rule raising the salary threshold for employees to be exempt from federal overtime requirements under the Fair Labor Standards Act (FLSA). The new rule significantly increases the minimum salary requirement for executive, professional, and administrative employees, and ...
IRS Mileage Rate for 2024 is 67 cents per mile
Businesses and individuals who rely on their vehicles for work-related travel will be impacted by changes in the IRS mileage rate. The IRS periodically adjusts the standard mileage rate to reflect the true costs of operating a vehicle for business purposes. In 2024, there’s a notable increase that will have implications for those who use......
Can an employee clean the office after hours for a flat fee, or is it overtime?
This question gets asked several times a year. The scenario goes like this … a medical practice gets poor cleaning services from its vendor so an employee asks to clean the office, after hours, for a flat fee. Seems like a win-win solution. The employer receives a clean office and the employee puts some extra......
IRS Increases Standard Business Mileage Rate to 62.5 cents per mile
High inflation and soaring gas prices caused the IRS to make a mid-year adjustment in the business mileage rate. Effective July 1 through Dec. 31, 2022, the standard mileage rate for the business use of employees’ vehicles will be 62.5 cents per mile—the highest rate the IRS has ever published—up 4 cents from the 58.5......
What is Trump’s Employee Payroll Tax Deferral program?
Is your head spinning yet? There have been a dizzying array of federal, state and local financial programs launched to help employers and give economic stimulus to the struggling American economy. The latest program is the Employee Payroll Tax Deferral program, and it has generated a good number of questions to our office from companies......
SBA Publishes the PPP Loan Forgiveness Application
The U.S. Small Business Administration (SBA) just released the Paycheck Protection Program forgiveness rules through the publishing of the PPP Loan Forgiveness Application. With worksheets and instructions, the SBA has given employers a better understanding of how the forgiveness application process will go. So, what did we learn? Here are the bi...
What are the basic rules for PPP Loan Forgiveness?
In April, small/mid businesses all over Florida jumped at the chance to obtain SBA loans to help stay in business and fund payroll. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Paycheck Protection Program (PPP) authorized billions for qualifying businesses to obtain loans for payroll, benefits, rent and other costs, and the ke...
Non-Working Employees Payroll and Work Comp Premium Calculation
As employers are struggling to maintain business operations, or are confronting a full or partial shutdown, every cost and expense is being closely scrutinized. The organization that regulates workers’ compensation rates, NCCI, recently published some FAQs for employers and carriers about the COVID-19 situation. Individual states will app...
New DOL Regulations (FFCRA) – How to Document Exempt Status from Paid Leave
The much anticipated Department of Labor Regulations (temporary) were just published on Wednesday, April 1. The new regulations explain how an employer with fewer than fifty (50) employees must document its declared exemption from the paid Emergency Paid Sick Leave and Emergency FMLA. Here are the new DOL Regulations on the FFCRA. What employers ...
Department of Labor’s New Paid Sick Leave and Expanded FMLA Poster (English and Spanish)
On March 25, the Department of Labor released the NEW FFCRA Employee Rights Poster for paid sick leave and expanded Family and Medical Leave. Click to download FFCRA poster (English). On Friday, the Spanish version of the FFCRA poster (spanish) was made available. Employers with fewer than 500 employees are required to post a notice......
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