Tag: Small Business (page 1 of 2)

NYS Minimum Wage Increase January 1, 2024

As of 1/1/2024, minimum wage in New York State is as follows:

 

General Minimum Wage Rate Schedule
NYC – Large & Small Employers $16.00
Long Island & Westchester $16.00
Remainder of New York State $15.00

 

The minimum wage rate differs based on industry and region.

Click here for additional information for:

  • tipped, fast food, and other workers
  • free posters on the increased minimum wage specific to your industry

 

Employers must post a Minimum Wage Information poster as well as various other posters in their place of work visible to all employees.

New IRS E-Filing Requirement

Starting with tax year 2023, if your business has 10 or more W2s and/or 1099s to prepare, you must file them electronically with the IRS.

 

BCW’s 2021 Hall of Fame Awardee!

We are excited and honored to announce that BYB has been awarded the 2021 Hall of Fame Business Minority Success Award from the Business Council of Westchester.

Thank you, Business Council of Westchester, for this incredible recognition. And congratulations to all of the 2021 Hall of Fame Honorees!

Corporate Citizenship

ENT & Allergy Associates

Entrepreneurial Success

Allstar Innovations

Family Owned Business Success

Lippolis Electric

Small Business Success

Progressive Computing

Women in Business Success

Sarah Jones-Maturo, President and CEO, RM Friedland

Chairman’s Award

Chereese Jervis-Hill, Events to Remember

 

BYB In 914Inc

Check out 914Inc.’s February/March 2021 publication featuring BYB’s Wiley Harrison; an article titled “Virtual Roundtable: Business Success During Covid”.

 

2021 Minimum Wage in NYS

As of 12/31/2020, the basic minimum wage will be $12.50 per hour in most of New York State.

The minimum wage rate differs based on: the fast food industry, tipped workers, Long Island, Westchester County, large and small employers in New York City.

General Minimum Wage Rate Schedule
NYC – Large & Small Employers $15.00
Long Island & Westchester $14.00
Remainder of New York State $12.50

For more information on the increased minimum wage specific to your industry, please click here.

Employers must post a Minimum Wage Information poster as well as various other posters in their place of work visible to all employees.

2021 NYS Misc Workers Minimum Wage Poster

Various Posters for the Workplace (NYS)

Minimum Wage for 2020 in NYS

Starting 12/31/2019 through 12/30/2020, the basic minimum wage will be $11.80 per hour in most of New York State.

The minimum wage rate differ based on: the fast food industry, tipped workers, Long Island, Westchester County, large and small employers in New York City.

General Minimum Wage Rate Schedule
NYC – Large & Small Employers $15.00
Long Island & Westchester $13.00
Remainder of New York State $11.80

For more information on the increased minimum wage specific to your industry, please click here.

Employers must post a Minimum Wage Information poster as well as various other posters in their place of work visible to all employees.

2020 NYS Misc Workers Minimum Wage Poster

Various Posters for the Workplace (NYS)

 

 

New W4 Form for 2020

The beginning of a new year is a great time for employees to review their withholding and determine if any adjustments are necessary.

The IRS has released the 2020 Form W4 which has been redesigned to reduce complexity and increase the accurateness of the withholding system.

The 2020 W4 form should be used by new hires and any employees making withholding changes in 2020.

Click here to view the 2020 Form W4

Click here for more information regarding the 2020 Form W4

How Much Can You Save for Retirement in 2020?

The IRS has announced the contribution limit for employees who participate in a 401K, 403B and most 457 plans will increase to $19,500 for the tax year 2020 (up from $19,000 in 2019).

The catch-up contribution limit for employees aged 50 and over who participate in these plans will increase to $6,500 (up from $6,000 in 2019).

Increased Minimum Wage in NYS

Starting 12/31/2018 through 12/30/2019, the basic minimum wage will be $11.10 per hour in most of New York State.

The minimum wage rate differ based on: the fast food industry, tipped workers, Long Island, Westchester County, large and small employers in New York City.

General Minimum Wage Rate Schedule
NYC – Large Employers (of 11 or more) $15.00
NYC – Small Employers (10 or less) $13.50
Long Island & Westchester $12.00
Remainder of New York State $11.10

For more information on the increased minimum wage specific to your industry, please click here.

Employers must post a Minimum Wage Information poster as well as various other posters in their place of work visible to all employees.

2019 NYS Misc Workers Minimum Wage Poster

Various Posters for the Workplace (NYS)

Wiley Harrison Appointed to MWBE Task Force

Congratulations to BYB’s Wiley Harrison on his recent appointment to Westchester County Executive George Latimer’s MWBE Task Force.

The task force was created to address the needs and challenges of Minority and Women-Owned Businesses (MWBE) in Westchester County in order to help them grow and succeed.

“The bottom line is this – we need to attract businesses and keep businesses here in Westchester County to keep our economy thriving. When our businesses thrive our County thrives, and we want to partner with those businesses, large and small, to meet their employment needs and technology needs.” – County Executive Latimer

Read more about the MWBE Task Force and its members.

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