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December 11, 2016
What does 2017 hold for your startup?
Have you thought about the legal, human resources and healthcare regulations for the New Year when it comes to your employees?
You probably already find the healthcare laws complicated and cumbersome.
Expect major changes as we move into 2017, especially with the inauguration of a new president.
You are probably worried about compliance with the Affordable Health Care Act. Assuming for now that nothing changes for a while, even though president-elect Trump has promised to repeal the law, here are some things to note when it comes to your startup employees:
Remember – startups who outsource work are not liable for health insurance either. If you’re looking for ways to save money, this is one way.
When it comes to legal changes, you’ll find a few tax change proposals on the books, but they aren’t yet official. Look for news of:
In addition to these changes, you’ll note some changes regarding the U.S. Patent and Trademark Office effective January 14, 2017, as they are revising the fee schedule.
Most fees are increasing as the office tries to align their fees with the full costs.
You’ll also find their aim is to make electronic filing less expensive so more people will dispense with paper filing. Note the following:
Finally, if you choose to file a Petition to Cancel a trademark or Notice of Opposition to the registration of a published mark, you’ll pay $100 more in 2017.
With regards to new information for your human resources department, for the 2017 plan year, you’ll find some new labor laws.
If you have more than one paid employee, you probably know there are specific signs you have to post at your startup. Here’s what you need to know about the changes.
Finally, a new federal law went into effect on December 1, 2016, that pertains to your startup in 2017.
It concerns the Fair Labor Standards Act and overtime pay. This law changes the threshold for overtime pay to $47,500. If you have salaried workers who make less than that, they are eligible for overtime pay when they work more than 40 hours per week.
This means you may need to plan for higher payroll costs. This will show as either overtime pay or a raise in salaries so they hit the $47,500 and can become exempt employees not bound by overtime pay.
You can look for new changes to laws and regulations as each year ends and a new one begins.
If this sounds like a daunting task, you can always hire a company like Escalon to help you navigate your startup’s human resources and legal needs.
Are you a new startup ready to succeed? Are you looking to get your new business off the ground and watch it rise to success? We are here for you. We can help answer your questions and guide you through the process. Outsource your HR duties, finances, payroll and more to us. Contact Escalon today to get started.
Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.
Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.
Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.
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