Finance News & Insights

New OT salary threshold released: Here’s the new number

It’s finally here! After years of waiting and more than 200,000 public comments, the Department of Labor (DOL) just released the proposed rules overhauling the federal overtime system. [Read more…]

Print Friendly

The $1.2 million pay mistake this company made

If your company pays any employees for two different types of work, be extra careful: That opens the door for pay mistakes that can be expensive. [Read more…]

Print Friendly

New overtime rules coming up fast: Your best ways to prepare now

Get ready: Your company will soon be working with a new salary threshold for overtime eligibility. [Read more…]

Print Friendly

The ‘common’ Payroll mistake that cost this company $165-plus

Even if the DOL acknowledges a company made a minor, “common” mistake regarding overtime calculations, it doesn’t mean the agency will let that company off the hook. [Read more…]

Print Friendly

Ex-DOL admin offers alarming preview of what could happen with new OT rule

While the majority of industry experts expect the DOL to create a new overtime rule that sets the salary threshold somewhere in the $33K ballpark, there’s at least one person who sees a scenario where employers will have to comply with the originally proposed $47K threshold. And there’s good reason to take what she says very seriously.  [Read more…]

Print Friendly

Why this company is out $5M over a missing Oxford comma

CFOs everywhere will likely want to double- or triple-check their job descriptions and classifications after hearing this company’s unfortunate story. [Read more…]

Print Friendly

Court officially closes door on one chapter of DOL overtime rule: What’s next?

A recent court ruling officially killed the controversial changes to the Obama-era DOL overtime rule. That means Finance can officially scrub the $47,476 salary threshold from their collective memories. [Read more…]

Print Friendly

How much can improper rounding cost? For this firm, nearly $300K

If your company subscribes to the pay practice of rounding nonexempt employees’ hours to a set time, you’re certainly not alone. [Read more…]

Print Friendly

DOL considers a change to overtime rule most CFOs would love

To find a suitable alternative to the OT rule changes created during the Obama administration, the Acosta-led DOL is considering a change that would address one of the chief complaints about the previous administration’s changes.  [Read more…]

Print Friendly

The cost of ignoring compliance during growth: $3.4 million

When your company is growing rapidly, it’s easy to ignore the less-pressing business issues, such as minor compliance tasks. But as a recent DOL settlement shows, doing so can prove very, very costly. [Read more…]

Print Friendly