As the year comes to a close, there’s a major change looming on the horizon for employers across the United States. Starting January 1, 2025, the minimum salary for most overtime-exempt employees under the Fair Labor Standards Act (FLSA) is set to rise to $58,656 per...
margie@payrollpartners.com
Federal: ACA Affordability Threshold Increases for 2025 Plan Year
On September 6, 2024, the IRS announced, in Revenue Procedure 2024-35, that the Affordable Care Act (ACA) affordability threshold will be 9.02%, increased from 8.39% in 2024, for plan years beginning in calendar year 2025 (after December 31, 2024). Under the ACA’s...
Thanksgiving Week Payroll Reminder
The Federal Reserve will be closed in observance of Thanksgiving Day on November 28th. Check dates on or after the holiday will be affected. Affected check dates include: Thursday, November 28th Friday, November 29th Monday, December 2nd Tuesday, December 3rd...