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4 important payroll issues to keep an eye on in 2023

BMT Office Administration

Nevertheless, 2023 is looking like another challenging year for Payroll as we get a few insights into what to expect. Proposed regulations covering white-collar employees were included in the Department of Labor’s spring 2022 semiannual regulatory agenda. We wish we had a crystal ball, but we don’t. Final e-filing regs.

Payroll 52
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New overtime regulations are open for comment

BMT Office Administration

Proposed regulations raising the salary employees must earn to be exempt from overtime were published in last Friday’s Federal Register. You need to use this time wisely to determine the impact final regulations may have on your payroll by auditing your employees and your pay policies. You have until Nov. 7 to comment.

Payroll 52
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4 Monumental Ways Banning Noncompete Clauses Will Transform The Future Of Work

Allwork

The Federal Trade Commission (FTC) has announced a proposal that would ban noncompete clauses, which are contracts that can prohibit employees at a company from job jumping within their career field, trading company insights, and more. . Research from the Economic Policy Institute shows 49.4%

Policies 331
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Crypto’s creep into the workplace is creating concerns

BMT Office Administration

You can have a policy against paying employees in crypto and it probably won’t be a deal-breaker for the vast majority of employees. Not easy to value: None of the proposed models for valuing cryptocurrencies are as sound as traditional discounted cash-flow analysis for equities or interest-and-credit models for debt. It’s happened.

Legal 52