LANSING - The US Department of Labor is changing the standards under which an individual can be treated as an Independent Contractor, effective March 11, 2024. It is important that any business paying individuals as Independent Contractors review those arrangements to ensure compliance with this final rule under the Fair Labor Standards Act. In the
DETROIT – A new report paints a stark picture for the state's future unless significant changes are made now. According to the report from the Growing Michigan Together Council, Michigan is at a crossroads. The past two years have served as a stark reminder that the headwinds of change are constant. We are facing massive
LANSING - Senate Democrats are changing their “Clean Energy Future Plan” to have utilities develop a “100 percent clean energy standard” by 2040 instead of the 2035 deadline that was originally proposed. “Utilities would have to file clean energy plans in order to achieve a carbon-free energy portfolio of 80 percent starting in 2035, and
LANSING - Artificial intelligence is coming at a fast and furious pace. Employers have to strategize the impact of AI on its operations. A study from researchers at Stanford University and MIT indicate that AI platforms such as ChatGPT could make workers more productive faster, meaning that certain skills, such as customer service positions, could
LANSING – The Small Business Association of Michigan has named 24 small business owners to lead the organization as its 2023-2024 board of directors. Sue Tellier, owner of JetCo Federal, a supply chain management, logistics, and packaging services company with a focus on helping organizations achieve and maintain operational efficiency and resilience, will serve as
DETROIT – Business Leaders for Michigan released a holistic economic development framework today that calls for broad thinking and strategic actions to bring prosperity to the state. While bipartisan work has resulted in economic progress since the Great Recession, moving Michigan from the bottom nationally to average today, getting to the top will be harder.
LANSING - You will deal with two various tax forms when recruiting employees: 1099s and W-2s. When you hire an independent contractor, you must file a 1099 form to report payments, and employees who had payroll taxes deducted from their compensation must file a W-2 form. 1099 vs. W-2 Workers Regarding taxes and IRS requirements,
LANSING - The 2023 Michigan 50 Companies to Watch awardees are small and mighty, having generated significant economic impact across the state. In 2022, these businesses generated $453 million in total annual revenue, a 57% increase since 2021. The companies reported they had 1,439 full-time equivalent employees in 2022 and project 498 net new jobs for
WASHINGTON — The Department of the Treasury and the Internal Revenue Service issued final regulations amending the rules for filing returns and other documents electronically (e-file). These regulations will require certain filers to e-file beginning in 2024. T.D. 9972 affects filers of partnership returns, corporate income tax returns, unrelated business income tax returns, withholding tax returns,
LANSING - The Cannabis Regulatory Agency is hosting a webinar at 10 am Thursday Jan. 26 with Four20 Post and the Small Business Association of Michigan to help cannabis businesses get financial advice during the market consolidation roiling the Michigan adult-use market. Are you a cannabis business looking for financial advice? If you have questions
