Important points business owners should know about employment law.

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Staying Educated on Employment Law is Crucial:

- You're expected to know and comply with the law as a business owner.

- Don't ignore mail from regulatory bodies - you're liable for it.

- Recent changes can impact your business:

  *Six factor test to determine contractor vs. employee status.

  *Salary threshold increases.

  *Misclassified workers are the #1 IRS fine for small businesses - this can lead to back pay and penalties.

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Hiring a Payroll Company is Beneficial:

 - They educate you and guide you into compliance.

- Don't rely solely on payroll software companies - their call center staff may not be experts.

- Benefit eligibility depends on time on payroll.

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Changes in Tax Law:

- Creates more unemployment due to increased costs for small businesses.

- Seems more about tax revenue than worker protection.

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Claims and Complaints are on the Rise:

- EEOC had a record $665 million recovery for workers in 2023.

- Social media and culture can encourage frivolous claims.

- Workplace violence is a concern.

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Key Takeaway:

- Be Proactive: Stay informed, comply with regulations, and seek expert guidance when needed.

- Protect Your Business: Understand the risks and take steps to mitigate them.