Amid looming recession concerns, many employees are feeling the financial pinch and looking at their compensation with a more scrutinizing eye. Employers should consider a compensation study to ensure they are paying their employees fairly with the market standard. Employees who feel they are paid...
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Each July 31, heath plans pay an IRS fee to support the Patient-Centered Outcomes Research Institute (PCORI), a nonprofit research organization chartered by the Affordable Care Act to improve health care outcomes and experiences for patients. Self-funded plan sponsors pay the fee directly, while...
The U.S. Department of Labor (DOL) is expected to release a Notice of Proposed Rulemaking in May to update the salary threshold for overtime eligibility. Currently, non-exempt employees earning a salary of less than $684 a week, or $35,568 annually, are entitled to overtime pay for hours worked in...
The Federal Trade Commission (FTC) recently proposed a rule to effectively wipe out noncompete contracts between employees and employers. This ban would render existing noncompetes void and new noncompetes illegal. According to the FTC, a noncompete clause is a contractual term between workers and...
The 2022 EE0-1 Component 1 data collection is tentatively slated to open mid-July. All private employers with at least 100 employees and certain under-100 employers must provide demographic workforce data, including data by race or ethnicity, sex and job categories. Updates, including the...
While April showers bring May flowers, spring storms can also cause a flurry of damage. Homeowners should take the time to review their insurance policies annually to ensure they are not underinsured and vulnerable to costly liabilities.
With an uncertain economic forecast on the horizon, business owners need to keep an extra close eye on their books to avoid excess costs. Keeping a business profitable is a basic goal of any owner, but the formula to get there is not always so simple. These tips can help take you from merely...
Employers with employees who operate personal vehicles for business use can adopt the IRS-established standard mileage rate to determine reimbursement. The rate for 2023 is 65.5 cents per mile and is determined based on a study of fixed and variable costs of operating a vehicle.
The Affordable Care Act (ACA) requires employers who issued more than 250 Form W-2s in the prior year to report the cost of employer-sponsored health coverage in Box 12 of the 2022 form.