9-12-23 - The New I-9 - What You Need to Know

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.

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