Business owners, managers and HR personnel are invited to join us for a free lunch and learn event covering recent changes to the Fair Labor Standards Act and how your business can stay in compliance. Our HR consulting team will provide educational updates and lunch. All events will take place from 12-1 p.m. FLSA Updates: Keeping your Business in Compliance Tuesday, October 29, Defiance VFW Wednesday, October 30, Willow Bend Country Club in Van Wert Friday, November 1, training room at Shultz Huber & Associates in St. Marys Lunch and the educational session are free, but reservations a ..read more

Does your human resources department need occasional support? Perhaps you don’t have an in-house human resources department? An HR retainer may be the answer. A retainer allows your in-house HR team or management team to lead the way, while tapping into the knowledge and expertise of a specialized consultant as needed. What are some of the advantages of partnering with an HR consultant on retainer? Expand your resources without the time and expense associated with recruiting, hiring and retaining another employee Keep your budget in check with a predictable monthly fee Gain an outside pe ..read more

The U.S. Department of Labor has announced a final rule that amends regulations under the Fair Labor Standards Act. Under the rule, the overtime threshold will increase from $35,568 to $43,888 effective July 1, 2024. On January 1, 2025, the amount will increase to $58,656. Additional increases will automatically go into effect every three years after that. About Minimum Wage & Overtime Protections The final rule applies to minimum wage and overtime protections under the Fair Labor Standards Act. Employees are exempt from these protections if they: Are paid a salary, which is a fixed amoun ..read more

The Corporate Transparency Act expanded anti-money laundering laws and created new reporting requirements for certain companies doing business in the U.S. Beginning in 2024, many small businesses are required to report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN) in an effort to create a national database for use by national security and law enforcement agencies to prevent the use of shell companies for criminal activity. Who Must File: Both domestic and foreign reporting companies are required to file reports. A company is considered a re ..read more

Shultz Huber & Associates, Inc. is pleased to announce that Tony Giovarelli, Ashley Grimm and Chelsea Waidelich were recently promoted. Giovarelli and Grimm were promoted to in-charge accountants, and Waidelich was promoted to supervisor. Giovarelli joined the firm in 2022 and holds a bachelor’s degree in business administration from Defiance College. He works in the Archbold office. Grimm has worked in the firm’s Bryan office since 2021. She holds a bachelor’s degree in accounting from the University of toledo. Waidelich has been with the Firm since 2016. She holds CPA licensure through ..read more

The IRS recently announced a Voluntary Disclosure Program to help taxpayers who may have claimed the Employee Retention Credit in error. The Voluntary Disclosure Program, which closes on March 22, 2024, allows taxpayers who received the ERC in error to repay only 80% of the claim received. Other benefits of participating in the program include: Any interest received with the ERC refund does not need to be paid back Income tax returns should be filed (if needed) to adjust wages expense to the original wage amounts The 20% ERC refund that is retained is not taxable as income Penalties and inter ..read more

President Biden’s new student loan debt policy includes canceling up to $20,000 worth of federal student loans for many borrowers. Here are some key points from the program: Eligibility is based on adjusted gross income from either 2020 or 2021 Only loans obtained before June 30, 2022 are eligible Only federal student loan debt is eligible, including federal parent PLUS loans Degree completion has no bearing on eligibility Single individuals earning less than $125,000/yr. will qualify for $10,000 in debt cancelation Those who are married and file jointly, or are head of a household, qualify f ..read more

Ohio voters recently approved a ballot measure legalizing marijuana for recreational use by adults 21 and over. The Ohio Department of Commerce has prepared some frequently asked questions regarding licensing, the implementation timeline and permitted uses. The statute includes several key points that apply to employers: Employers have the right to establish, continue and enforce drug-free workplace policies, including drug testing and zero-tolerance Hiring, firing and discipline decisions can be taken against employees for use, possession and distribution, even if such actions are done withi ..read more

Please join us for one of our Lunch Hour Educational Sessions where we will present new strategies that can bring a positive financial impact to your business and improve employee retention. Local employers who attend will learn about strategies that can have an immediate impact, including: Reducing FICA and workers compensation taxes Improving employee retention and reducing lost-time absence Positively impacting other employee benefits Who should attend? CFO, COO, CEO, owners, and HR representatives for companies that have 15 or more full-time employees Upcoming Event Dates Wednesday, Se ..read more

Although the current I-9 form was set to expire on October 31, 2022, U.S. Citizenship & Immigration Services confirmed that employers should continue to use it until further notice. See the announcement. U.S. Immigration & Customs Enforcement recently announced they will be extending I-9 flexibility through July 21, 2023. Learn more about this program. If you have any questions about the I-9 form and how it applies to your business, please reach out to our HR consultant, Vicki Boroff ..read more