FEATURE
The Department of Homeland Security issued a new Form I-9, also known as the Employment Eligibility Form, on August 1. If you have employees, you need to be completing an I-9 on every new hire and should have already completed an I-9 for every existing employee. Penalties for non-compliance are stiff.
Today’s guest is Karen Moss, of Innovative Outsourcing:
Karen’s email: kmoss@innovative-outsourcing.com
Karen’s LinkedIn page: https://www.linkedin.com/in/karenemoss/
Innovative Outsourcing web page: https://www.innovative-outsourcing.com/
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NEWS ROUNDUP
1 - The Department of Labor has proposed a rule that could significantly increase the overtime costs for small businesses.
https://www.shrm.org/resourcesandtools/legal-and-compliance/employment-law/pages/proposed-overtime-rule-2023.aspx
https://www.wsj.com/articles/julie-su-labor-department-overtime-pay-biden-administration-b314387c
2 - The Department of Treasury will begin requiring tens of millions of small companies to hand over details about their ownership via a new rule on beneficial ownership reporting under the Corporate Transparency Act.
https://sbecouncil.org/2023/08/15/new-federal-reporting-requirement-for-small-businesses/
https://www.nfib.com/content/analysis/national/the-upcoming-regulation-change-every-small-business-owner-should-know/
3 - Excessive borrowing costs continue to frustrate small businesses seeking access to capital, according to a new survey.
https://www.nfib.com/content/press-release/economy/new-nfib-survey-increased-financing-costs-tops-the-list-of-credit-concerns-for-small-business-owners/
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This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/.
👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg.
📧 Do you want to grow your business? I help small business owners succeed with their strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let me help you grow your small business.