Maximize Your 401k Contributions in 2024: A Guide with Calculator
New updates to the 2023 and 2024 401k contribution limits. Use a free paycheck calculator to gain insights to your 401k and financial future.
On Wednesday, the Department of Labor announced an increase in the salary maximum for employees to make over time. Check out the numbers here.
Goodbye $23,600 and hello $47,476.
On Wednesday, the Department of Labor announced an increase in the salary maximum for employees to make over time. Simply put, people who make under $47,500 will now automatically qualify for time and half after working 40 hours.
The change – which goes into effect on December 1, 2016 – is set to affect scores of working Americans, most notably those who are classified as “executive, professional, or administrative employees.” Restaurant workers, fast food chefs, certain journalists, and other entry-level professionals who burn the midnight oil, pushing 50 hours a week to make an impression will now reap the benefits.
Other backlash of this expansion to overtime may include employers offering higher salaries, or cutting hours. No matter the consequence, four million Americans will see some ripple, according to the Department of Labor. If you ask the Economic Policy Institute, that number jumps to 12.5 million.
Here’s a larger look at the numbers of people who will be affected.
If you know you're one of the many people whose paycheck will see a difference, use our salary calculator to work out some scenarios.
New updates to the 2023 and 2024 401k contribution limits. Use a free paycheck calculator to gain insights to your 401k and financial future.
Unlock the secrets of your 2023 bonus taxes with our guide, and use our Bonus Pay Percent Calculator for an instant breakdown of your take-home pay.
It’s the 2023 holiday season, and for fortunate employees, that means an end-of-year bonus! Yet many employees are disappointed when their bonus lands in their bank – usually a lower amount than anticipated. Here's a quick guide to help workers understand how bonuses are taxed.