Author: bayerkohlercpa

Effective July 1st, all employers, as well as their owners, risk significantly increased penalties for misclassifying employees as independent contractors. Significantly Higher Penalties Available in General Industry:  Effective July 1, 2024, employers may face penalties of up to $10,000 for each individual violation. If the employer also failed to report the individuals as employees to a…

Starting on January 1, 2024, many companies in the U.S. are being required to report information on the individuals who ultimately own or control the company. Some examples of changes that would require you to update the BOI would be: The BOI filing is quick, free and can be done online. The following link will…