New Overtime Rules
Under the FLSA, employees who work more than 40 hours in a week are entitled to overtime pay, unless their annual salary is $46,476 or higher. Covenant CPA LLC understands that the DOL rule may impact major business decisions like hiring, expansion, offering new benefits or more flexible work arrangements for employees, and possibly even require reductions at your company. We can help you in assessing the effects of the new overtime-pay rule. Companies will have until December 1, 2016, to make determinations on which employees to reclassify as nonexempt and implement the changes. Covenant CPA has the expertise to guide you through this change and help you plan for the future.