Federal Tax Updates

What Small Businesses Need to Know about New Overtime Rules

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This episode of the Federal Tax Updates Podcast explores recent changes in employment law that impact small businesses. Hosts Roger  and Annie discuss new overtime rules, including updated salary thresholds for exempt employees, as well as guidelines for hiring family members and the benefits of doing so. They also cover recent developments in non-compete agreements and offer advice on protecting client relationships. Throughout the episode, the hosts emphasize the importance of accountants providing comprehensive advisory services to small business clients beyond just tax advice.

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  • (00:00) - Welcome to Federal Tax Updates
  • (01:33) - Small Business Issues Overview
  • (02:55) - Employment Concerns for Small Businesses
  • (05:43) - Fair Labor Standards Act (FLSA) Basics
  • (08:30) - State vs. Federal Minimum Wage
  • (12:25) - Overtime Rules and Exemptions
  • (29:12) - Salary Adjustments and Overtime Considerations
  • (29:46) - Impact of Political Changes on Labor Regulations
  • (30:11) - Understanding Exemptions: Administrative, Executive, and Professional
  • (31:06) - Outside Sales and Computer Employees Exemptions
  • (33:19) - Joint Employer Standards and Franchisee Concerns
  • (36:45) - Child Labor Laws and Hiring Your Own Children
  • (42:42) - Non-Compete Agreements and Employee Retention
  • (50:55) - Upcoming Podcast and Future Topics

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    Connect with the Hosts on LinkedIn
    Roger Harris
    Annie Schwab

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    This podcast is a production of the Earmark Media

    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

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    Federal Tax UpdatesBy Roger Harris, EA and Annie Schwab, CPA
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