Here are a couple quick updates on changes to 1099 non-employee compensation reporting and delay of Michigan minimum wage increase. Please note important filing dates and related penalties:
BHT&D Certified Public Accountants Blog
Tags: Small Business Accounting, Michigan Minimum Wage, Compensation, Independent Contractors
Effective January 1, 2020, the Department of Labor updated the thresholds for workers to be considered exempt from overtime.
Changes were also made to Form W-4, the Michigan minimum wage and the business mileage rate. Following is a summary of some of the changes employers should be aware of.
Tags: Michigan Minimum Wage, Compensation, Overtime, Michigan Employer, Overtime Exemption
Michigan’s minimum wage increased on January 1, 2016 to $8.50 per hour for workers 18 years or older, and to $3.23 per hour for tipped employees. This increase is part of Public Act 138, the Workforce Opportunity Wage Act, passed May 27, 2014, which gradually increases Michigan’s minimum wage to $9.25 per hour in 2018.
A new minimum wage law was signed by Governor Snyder on May 27. Starting this September, the first in a series of increases to the state minimum wage will go into effect.