New FLSA Overtime Rule Change: Resources from ADP

Now approved, the changes from the U.S. Department of Labor (DOL) to overtime rules under the Fair Labor Standards Act (FLSA) will increase the minimum salary requirements for white collar exemptions significantly from $23,660 to $47,476 annually.

Do you know the difference between an exempt and non-exempt employee? When must employers pay overtime? Find out. Misclassifying just one employee may cost thousands of dollars. Multiply that by the number of employees you have who fall between the old and new salary thresholds, and your organization could be faced with extensive legal and financial costs.

Use these online calculators to help estimate the impact to your organization.

Don’t wait until the rule goes in to effect on December 1, 2016 to see the impact of these changes – be prepared while there’s still time to better understand and thoroughly evaluate your options. ADP® carefully monitors regulatory activity and updates an FLSA resource page to help you plan and prepare.

Have questions? I’m here to help.

This field is for validation purposes and should be left unchanged.
This field is for validation purposes and should be left unchanged.
Categories
Accounting and Tax Services Litigation Support Managed Care Consulting Managed Care Contract Negotiations Medical Practice and Healthcare Entity Valuation Medical Practice Assessment Medical Practice Brokerage Medical Practice Embezzlement Consulting Medical Practice Management Medical Practice Merger Advice Medical Strategic Planning Newsletter Personal Financial Planning Oversight Physician Compensation Models Physician Compliance Physician Financial Management Services Retirement Uncategorized
About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read More >

Reed Tinsley, CPA