The Department of Labor has officially changed overtime rules for employers starting on July 1, 2024
The new rule, effective July 1, 2024, allows any employees who make $43,888 or less a year to qualify for overtime pay. As of January 1, 2025, the salary amount will go up to $58,656. As a small business owner myself, I offer advice for what employers need to know, and how they can run their business based on this new rule.
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Columnist on smallbiz, economy, public policy, tech for The Guardian, The Hill, Philly Inquirer, Wash Times, Forbes, Entrepreneur. Small Business owner and CPA
