As a small business owner, your largest overhead component, 70% on average, is labor. You might have assumed that, within the bounds of things like the minimum wage, you’re essentially free as a small businessperson to negotiate whatever wage and salary with your employees that you’d like. There are, however, additional requirements that you must […]
5 Easy Payroll Steps for Your New Business
Regardless of the type of business you have, effectively and correctly administering payroll is essential to day-to-day operations.
Are You Aware of All the Costs of a Franchise?
Deciding which franchise business opportunities you should invest in requires a lot of research and serious thought. One of the most important areas of the research and decision making process is the financial arena.
12 Myths about Overtime Exemptions
Under federal law, non-exempt employees are entitled to overtime pay. While exempt employees need not be paid overtime, they must meet very specific salary and duties criteria outlined in the Fair Labor Standard Act (FLSA). Understanding overtime requirements can be challenging and complying with the FLSA requires employees to be properly classified. In this Tip, we provide 12 of the most common myths concerning overtime and exemptions.
The Real Cost of Overtime
Whether you pay hourly or by salary, overtime is expensive and often not worth the expense. In most cases your employees should be able to complete their work in the 40 regular hours each week.