Each year, federal agencies, Congress, and state legislatures propose regulations and pass laws that create additional regulatory requirements for businesses. In 2024, Paychex Director of Compliance Mike Trabold shares with host Gene Marks that businesses should expect changes around overtime, compensation, paid leave, OSHA inspections, EEOC and anti-discrimination, joint employer, non-competes, worker classification, retirement, and much more. Tune in to this episode of Paychex THRIVE, a Business Podcast, to learn insights and tips on how to prepare your business to understand your compliance requirements.

#Paychex #RegulatoryIssues2024 #BusinessCompliance

Topics Include:
00:00 – Introduction of Mike Trabold
01:53 – Compensation and competing for talent
05:55 – Minimum wage increases and impact
17:41 – Mandated sick time and paid leave
27:57 – Potential impact on unionization of NLRB’s Joint Employer Rule
29:51 – OSHA ramps up inspections and enforcement around heat issues, more
30:30 – Severance packages and contingencies
31:21 – NLRB’s Joint Employer Rule to impact franchises, contractors
35:37 – EEOC activity – training, harassment, religious accommodations
43:24 – FTC on non-competes and consumer reviews
48:38 – OSHA inspections on heat issues, tips for industries
51:44 – DOL and worker classification
1:02:18 – Overtime rule, tips for businesses
1:04:00 – State child-labor issues
1:05:52 – IRS and the ERTC pause
1:09:21 – High-compensated individuals and taxes
1:12:22 – Research and Development tax deduction
1:15:02 – Beneficial Ownership Information reporting
1:18:17 – Retirement and taking advantage of tax credits from the SECURE Acts
1:22:48 – Wrap-up

Learn more about available tax credits from the SECURE acts: https://bit.ly/3R3fxzP

Find out how proposed DOL overtime rule could affect your business: https://bit.ly/3MTkdFU

What can your business still do with the ERTC? https://bit.ly/47BbbGd