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Business owners are wondering if they can still claim the Employee Retention Tax Credit (ERTC) under the CARES Act if they suffered a loss in revenues due to COVID-19. In particular, MarathonHR has received a number of questions about possible new ways to qualify. As a reminder, the ERTC was created to help businesses keep employees on their payroll during the COVID-19 pandemic and provide some financial relief. The ERTC is a refundable tax credit…
In August, we discussed tougher new standards in Georgia for classifying a worker as an independent contractor. The law intends to prevent companies from categorizing someone as a contractor when they’re really an employee who should receive the protections of federal and state employment laws. Misclassifying an employee as exempt is one of the latest ways that companies are trying to get around labor laws. It’s hard to believe that business owners would do this,…
I am looking forward to riding my bike in the second annual Spin for Special OPS (SFSO) charity bike ride on Saturday, May 27, 2023. The event will be hosted by Operation One Voice (O1V), a volunteer-based organization that provides support to wounded or fallen Special Operations Forces Soldiers and their families. Over 97% of each dollar raised goes directly to help these military veterans. If you would like to learn more about the event…
Under the Affordable Care Act (ACA), the IRS requires all employers and qualified health plan providers to report information about their offers of health coverage and health coverage enrollment using tax Forms 1095. What is the Difference Between Forms 1095-A, 1095-B Form 1095-C? Form 1095-A The 1095-A form (Health Insurance Marketplace Statement) is for people who have health insurance through the Health Insurance Marketplace, often called an exchange. These are individuals who do not have…
Non-compete agreements are typically signed at the beginning of a business relationship, such as when a new employee is hired. If the employee leaves the job, the agreement usually stipulates a time period that he or she may not engage in business activities that would compete with the employer. The Federal Trade Commission (FTC) has proposed a new rule that would ban employers from imposing non-compete agreements on their workers. Why is the FTC Proposing…
Tips and gratuities can make up a significant portion of many workers’ earnings. In addition to restaurant workers, employees in other settings such as beauty salons, car washes and valet services routinely receive tips from customers. So, what happens to the cash tip that you handed to the person who washed your car? The business may require the employee to place the tip in a “tip pool.” What is Tip Pooling? Tip pooling is the…
With recent changes in the economy, some employers may find themselves forced to reduce costs through employee layoffs. However, it’s important to know how to handle a reduction in force correctly. A failure to follow proper protocol when terminating employees or conducting layoffs could soil your business’s reputation and expose you to the risk of lawsuits or workplace safety issues caused by disgruntled employees. A cautionary tale In late November, a Mississippi-based furniture company laid…
Can a robot make your french fries just as easily as a person? Modern technology is making it possible for automation to replace human workers in food service positions such as hostess, cook and food delivery jobs. It’s no secret that restaurants, like many businesses, have found themselves short-staffed during this post-pandemic climate in which it’s been difficult to hire and retain workers. Employing a ‘restaurant robot’ may be one approach to filling what are…
It’s a good idea to periodically revisit recordkeeping requirements under the Fair Labor Standards Act (FLSA). Every employer covered by the FLSA must keep certain payroll records for each covered, nonexempt worker for at least three years. It’s in an employers’ best interests to keep as much detailed information as possible to demonstrate compliance with the FLSA’s provisions regarding minimum wage, overtime, equal pay and child labor. What kind of information do I need to…
The Internal Revenue Service (IRS) has announced a record increase in contribution limits for 401(k) and other tax-deferred retirement plans for 2023. Starting next year, retirement plan participants are allowed to contribute up to $22,500 to qualified plans such as 401(k)s, 403(b)s, most 457 plans or the Thrift Savings Plan for federal employees. The increase amounts to $2,000 more (roughly 10%) than the current $20,500 federal contribution limit for 2022. Contribution limits are indexed to…
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MarathonHR Helps Thomas Eye Center Focus on Patient Care and Service