Categorizing Workers & The New Overtime Rules 2023

October 17, 2023
100 Mins
Dr. Robert K. Minniti
IRS CPE Credits: 2 Tax hour

All prices mentioned above are for single user access only. For multi-user access, kindly call us on (818) 584-2346 or email us at Live Chat

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:

  • Increase Salary: You can choose to raise their weekly salary to meet the new threshold, allowing them to maintain their exempt status.
  • Reclassify as Nonexempt Salaried: Alternatively, you can reclassify them as nonexempt salaried employees, ensuring they receive overtime pay for any hours worked beyond the standard workweek.
  • Reclassify as Nonexempt Hourly: Another option is to reclassify them as nonexempt employees but transition them to hourly status.

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.

Webinar Objectives

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.

Webinar Agenda
  • Understanding Worker Categories
  • Overview of Proposed FLSA Overtime Rule Changes
  • Impact on Exempt Employees
  • Factors to Consider in Decision-Making
  • Preparing for Implementation
  • Q&A 
Webinar Highlights
  • Review the methodologies for categorizing workers
  • Review the new overtime rules
  • Recognize the IRS requirements for paying workers
  • Recognize the DOL requirements for paying workers
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.

IRS CPE Credits: 2 Tax hour

Dr. Robert K. Minniti

Dr. Robert K. Minniti

Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona. Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr....
Read More

We also Recommend

Date Conferences Duration Price
Jul 25, 2023 Internal Audit Trends & Requirements: 2023 Updates! 100 Mins $199.00
Jun 22, 2023 Employment Law Issues Accountants Need to Know 2023 Update 100 Mins $199.00
May 18, 2023 Cybersecurity for Tax Professionals – 2023 Update 100 Mins $199.00
Mar 21, 2023 2023 Crypto Currency & Taxes Update 100 Mins $199.00
Apr 26, 2022 Complying with the Fair Debt Collection Practices Act 60 Mins $199.00