2020 Federal W-4
Effective January 1, 2020, all new employees will have to complete the newest version of the federal W-4 tax withholding form. Current employees are not required to furnish this form if they have a valid W-4 on file with their current employer(s).
Click here to learn more and be directed to the current W-4.
Effective January 1, 2020, the Fair Labor Standards Act (FLSA) has issued an updated salary threshold for employees who are considered exempt from overtime. This increase was made to reflect the current cost of living. All duties tests will stay the same and should be completed when evaluating whether an employee should be classified as exempt or non-exempt.
Missouri Minimum Wage Increase
Effective January 1, 2020, the minimum wage in Missouri has increased from $8.60 per hour to $9.45 per hour. As minimum wage is set to increase steadily over the next few years, employers need to be prepared. Here are a few resources to help get your business and budget ready for the upcoming changes.
Did you know that there are posters you are required to have posted in plain site in your business? If not, you could be looking at a hefty fine. OnBoard, LLC offers an all-in-one poster for a flat rate. Click here to order yours today!