MyCo Glossary
US HR & Payroll Terms, Explained
Plain-English definitions of the laws, forms, and rules that US small businesses run into every week. Written for operators, not lawyers.
FLSA
Fair Labor Standards Act
The US federal law setting minimum wage, overtime, recordkeeping, and child labor standards.
FICA
Social Security + Medicare Tax
The 7.65% payroll tax (matched by employer) that funds Social Security and Medicare.
Form I-9
Employment Eligibility Verification
The US form every employer must complete within 3 business days of new hire start.
1099 vs W-2
Worker Classification
Contractor vs employee — and what gets you sued if you misclassify.
Exempt vs Non-Exempt
FLSA Overtime Status
Why "salary" doesn't equal "no overtime" — and the three tests that determine status.
Paid Sick Leave
State-by-State Compliance
18 states + 30 cities require paid sick leave. Here's how to comply across jurisdictions.