Effective December 1, 2016, the Department of Labor is enacting a new overtime law in which the Fair Labor Standards Act is being changed, allowing the threshold annual income below which overtime pay is required (assuming all other requirements for overtime pay are satisfied) to rise to $47,500, compared to $23,660, which was the amount […]
10 Ways a Small Business Can Control Unemployment Insurance
As we outlined in a previous blog post Employer Basics: Unemployment Insurance in Illinois, an established employer must pay a percentage of each employee’s wages, up to an annual base of $12,690, into the State’s Unemployment Fund and that percentage can range from 0.55% to 7.75%. This difference can be significant, a multiple of more than 14 times, […]
Employee Misclassifications: What You Should Know
On October 19, 2016, we posted a blog about the Chicago Minimum Wage law which became effective July 1, 2015, with an hourly wage of $10.00, increased to $10.50 July 1, 2016, and continues to increase incrementally each year into the future. The Chicago law also imposes very substantial penalties on employers who violate it, […]