All Fields Required

Top 2015 Regulatory Issues for Small Businesses

Posted On
January 14
By
SurePayroll
The new year is here and small business owners are more excited than ever about implementing their business plan for 2015.

With so much going on, it is easy to overlook regulatory changes and how they can impact a business. Failing to do so could lead to a variety of problems, as noted by president and CEO of Paychex Martin Mucci in a recent media release from the SurePayroll parent company:

“Staying up-to-date with the ever-changing regulatory environment can be the difference between your business maintaining compliance and potentially facing steep IRS penalties.”

Below are 10 regulatory issues small businesses need to be aware of in the new year in Slideshare and text formats:

    1. Tax reform and tax extenders. It may have taken longer than expected, but on December 19, 2014, the president signed the Tax Increase Prevention Act of 2014. This led to roughly 50 tax extenders being expanded through December 31, 2014. 2. The Affordable Care Act. Let’s face it: this act is turning things upside down for many small businesses. It is important to become familiar with the provisions of the act, as this will have an impact on many organizations.
    3. Taxation of online sales. In May 2013, the United States Senate passed the Marketplace Fairness Act, however, it stalled out last year in Congress.

By taxing online sales, brick and mortar stores will find it easier to compete head to head with internet based retailers. Look for this legislation to make its way to the forefront once again in 2015.

    4. Immigration reform. The president has plans to make changes to the country’s immigration laws, which could impact staffing and hiring processes for small businesses.
    5. Overtime regulations. Sometime during the first quarter of 2015, the U.S. Department of Labor is expected to discuss proposed guidelines and modifications to the current overtime regulations governed by the Fair Labor Standards Act.
    6. Employment related legislation. Are you familiar with new legislation in your state, as well as your local area? State and local governments continue to make changes, such as minimum wage increases. These changes are just as important as those that take place on the federal level.
    7. Privacy. This was a buzz word of 2014, and we can expect more of the same this year. The government will continue to look at ways to improve privacy, which could include cybersecurity legislation. No company, large or small, wants to experience a data breach. Unfortunately, this has been happening quite a bit as of late.
    8. Retirement. There are many changes in the works that could impact any small business that offers a retirement plan to employees (as well as those that don’t). For example, Illinois, as well as other states, are looking into a change that will enroll employees who are not offered a retirement plan into an IRA.
    9. FUTA credit reduction. Many states still have outstanding federal unemployment loans. Companies in these states (check out this list) will have their FUTA credit amount reduced once again in 2015 as a means of paying back this debt.
    10. Banking changes. Mobile payment is all the rage, meaning that banks and other financial institutions will be making changes to accept these payments and enhance security. Many small businesses will consider accepting mobile payments, especially as this trend grows in popularity and the competition catches on.

There are many regulatory issues and changes, such as those above, that small business owners should be aware of as 2015 wears on.

13 comments

Leave a comment
  1. jackman | Oct 24, 2016
    i truly like this article please keep it up.  beirut escorts
  2. bfgfn | Oct 17, 2016
  3. bbgb | Oct 17, 2016
  4. dvfdvdf | Oct 17, 2016
  5. jackman | Oct 16, 2016
    We provide service at your place of residence or business if you are unable to travel to our location (for more details please go to paralegal services) We have reduced fees depending on client’s family net income, We charge our clients per job and do not ask for advanced money and usually give clients approximately cost of litigation and time of payments before starting the job. Paralegal services
  6. jackman | Oct 05, 2016
    At Spa Samira Laser Clinic, our number one priority is customer satisfaction. Highly experienced staff, certified aestheticians, and competitive prices are among reasons why our clients choose us. With services ranging from facial peels and waxes, to laser treatments and permanent hair reduction, we strive to exceed your expectations by offering exceptional customer service, employing state-of-the-art technology and using top-of-the-line products. Contact us to schedule an appointment, and one of our aestheticians will be happy to talk to you. microdermabrasion scarborough
  7. Claudia | Sep 29, 2016
    likes for likes This is an excellent post I seen thanks to share it. It is really what I wanted to see hope in future you will continue for sharing such a excellent post. how to get instagram followers fast
  8. Ashly Ashlyn | Sep 17, 2016
    These definitely are the ten prime problems being faced by a small business and an accountant good enough to handle it can help with the situation. I have the superiorpapers discount and now I'm getting them to work on my research papers.
  9. zxc | Sep 11, 2016
    Farah is a top Real Estate broker at home Life Bayview, with a particular focus on Richmond Hill in York region and Toronto. Farah is amongst the top 5% Agent in Canada and has earned numerous awards in the last 10 years for her quality services. richmond hill real estate
  10. as | Sep 08, 2016
    This is my first time i visit here. I discovered such a large number of fascinating stuff in your online journal particularly its dialog. From the huge amounts of remarks on your articles, I figure I am by all account not the only one having all the satisfaction here! keep doing awesome  lebanon sexy escorts
  11. jackman10 | Sep 04, 2016
    This article gives the light in which we can watch the truth. This is exceptionally pleasant one and gives indepth data. A debt of gratitude is in order for this pleasant article.  beirut escorts
  12. jackman | Aug 18, 2016
    Buying or selling a property is possibly the most significant financial decisions that one can make, probably a number of times in a lifetime. In such transactions, the stakes are very high and we believe it is your right to demand the protection of your interests. For me, representing your best interest cannot be materialized through slogans and catchwords, but rather it comes through enduring work, transparency and consistent communication. My goal is to meet all your real estate needs and exceed your expectations by delivering professional, honest and unparalleled client service. I share my knowledge and experience with you enthusiastically, and we will move forward step by step, only when you feel comfortable. Richmond Hill real estate
  13. jackman | Aug 15, 2016
    Samira Laser Clinic in Scarborough should be your only choice for laser hair removal. Our precision equipment carefully removes your hair while keeping your skin soft and glowing. We specialize in laser hair removal, facials and microdermabrasion. We also perform waxing and sell laser hair removal machines! microdermabrasion

    Leave a comment