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The U.S. Department of Labor (DOL) has proposed significant changes to the Fair Labor Standards Act (FLSA) overtime rules on August 30, 2023. Once finalized (which is highly likely), these rules will raise the minimum salary for most employees exempt from overtime pay from $684 per week ($35,568 per year) to $1,059 per week ($55,068 per year).
If any of your exempt employees fall into the estimated 3.4 million exempt worker category earning less than the new salary threshold, you'll need to make a decision:
Each decision comes with its own set of advantages and disadvantages, and there are various factors to take into account. Starting your preparations early will enable you to make informed choices and be ready to take action once the final rule is in place.
Are you familiar with the new rules, do you have any questions about implementing the rules? Businesses are also having audit issues with the way workers are categorized. Do you know all the IRS rules for how to categorize an employee. Join us for this most updated webinar with industry expert Dr. Robert K. Minniti and review the IRS and Department of Labor rules for categorizing workers and ensuring they are paid properly.
The objective of this session is to provide participants with a comprehensive understanding of the proposed changes to the Fair Labor Standards Act (FLSA) overtime rules, including the potential impact on exempt employees and the various options available for employers to consider in response to these changes.
Who Should Attend
This webinar would be appropriate for CFOs, CEOs, business owners, business managers, internal auditors, human resource employees, human resource managers, external auditors, corporate accountants, government accountants, CPAs, CMA, CIAs and risk management personnel.
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