Decoding the Fair Labor Standards Act - Employee or Independent Contractor?
The new year came with a new rule from the US Department of Labor for classifying independent contractors versus employees. Effective March 11th, 2024, the update hopes to clarify and guide appropriate classification. In the evolving landscape of the modern workforce, distinctions between contractors and employees have always been crucial but are becoming increasingly complex. The Pandemic changed the way many employers hire and employees work, therefore making the line between independent contractors and employees even fuzzier.
Read POSTCorporate Transparency Act: Beneficial Ownership Information Reporting Requirement
Starting January 1, 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA”). The CTA was enacted into law as part of the National Defense Act for Fiscal Year 2021 to help U.S. law enforcement combat money laundering, the financing of terrorism and other illicit activity. The CTA requires disclosure of the beneficial ownership information (otherwise known as “BOI”) for people who own or control a company.
Read POSTWill you be REQUIRED to file your W-2’s and 1099 electronically in 2024? Chances are, yes.
Starting in 2024, if you have 10 or more informational returns (W-2,1099-NEC,1099-MISC, etc.), you will be required to file them electronically. This is a significant increase from the 250 returns threshold in prior years, and the penalties for incorrect filing can be costly. The IRS receives billions of returns each year, most of which are electronic. But for the millions of returns that are still paper filed, these new rules are intended to free up staff and resources; improve efficiency; and reduce unnecessary costs associated with paper filing.
Read POSTVote for B.A. Harris - Best Accounting Firm
Dear Valued Clients, We are thrilled to announce that B.A. Harris been nominated for the esteemed title of "Best Accounting Firm” in Idaho Business Review’s 2024 Reader Rankings publication! This recognition is not just a testament to our hard work and dedication, but also a reflection of the trust and support you have consistently shown us over the years. We were so excited to take the top spot in 2023, and we would love to do it again.
Read POSTWelcoming You to Our Newly Expanded Office Suite: Renovations Complete!
Dear Valued Clients and Partners, We are thrilled to announce that our office suite expansion and renovations have come to a successful conclusion! After months of hard work and dedication, we are excited to open our doors and invite you to experience our enhanced workspace. The decision to expand and renovate our office suite was driven by our commitment to providing you, our valued clients and partners, with the best possible service.
Read POSTReady to chat?
So are we.
Feel free to contact us with any questions or needs you have. We will get in touch with you right away.
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