New Overtime Compensation Threshold: What does it mean for your business?

Have you heard of the new overtime compensation threshold? The Biden-Harris administration has finalized a rule to increase the salary thresholds for overtime eligibility. So, If you have employees on a salary structure, this new law could affect your payroll and the bottom-line revenue in your business, in this video, I am giving you all the details you need to know.
Check out more about this new law here: www.dol.gov/newsroom/releases...
📈 Create your PROFFIT Plan™: jamietrull.com/PROFFIT
// ABOUT ME
Hey! I’m Jamie Trull, CPA & Profit Strategist here to help you with the tools & resources to get you informed, organized and profitable with your business finances.
🛍️ Work with me: jamietrull.com/shop
// WATCH THESE OTHER VIDEOS NEXT //
👉 Get your Business Finances Organized: • Get Your Business Fina...
👉 Easy Profit & Loss Statement for Self-Employed: • Easy Profit and Loss S...
// FINANCIAL TOOLS & SYSTEMS I LOVE //
💸 Best Payroll: jamietrull.com/payroll
🏦 No Fee Business Banking: jamietrull.com/banking
📚 DIY Accounting: jamietrull.com/quickbooks
💳 Best Business Credit Cards: jamietrull.com/creditcards
🎁 More Things I love. Get my FREE GUIDE: jamietrull.com/bestoffers
// CHOOSE YOUR ADVENTURE //
🔎 Discover Your Money Superpowers jamietrull.com/quiz
📈 Create your PROFFIT Plan™: jamietrull.com/PROFFIT
✅ S Corp Success Checklist: jamietrull.com/scorpchecklist
👪 7 Tax Strategies for Hiring Your Kids: jamietrull.com/kidstaxstrategies
🚀 Guide to Reducing Taxes for Business Owners jamietrull.com/taxsavings
📅 Annual Planning Guide: jamietrull.com/annualplanner
💲 Determine if it’s time to modify your pricing: jamietrull.com/byhour
🤝 Need a trusted Financial Professional to help you? Check out my Preferred Vendor list here: jamietrull.com/preferred-vendors
🔗 Oh! And follow me:
Website: jamietrull.com/
Instagram: / jamie.trull
Facebook: / balancecfo
Free Community: / financialliteracyforwomen
Blog: jamietrull.com/blog
CHAPTERS:
00:00 Introduction
00:43 What is this new compensation change?
03:34 How do you know if this will affect your state?
04:00 What does this mean for your business?
07:19 Could things change with this rule?
**DISCLAIMER: This video is meant for educational purposes only. This is not to be relied on or considered a substitute for advice on your specific situation from your tax advisor.
#compensationthreshold #jamietrull #smallbusinesspayroll

[@JamieTrull]

Is this new threshold going to effect your business? Let me know ⬇️