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For CPAs and other professionals in the accounting industry, working long hours is common—particularly during tax season. As their average work weeks exceed 40 hours, some accounting firm employees have wondered whether they are entitled to overtime pay. This question hinges on whether they are classified as exempt or nonexempt employees under the federal Fair…
Have You Audited Your HR Practices? For CPA firms and other businesses in the accounting industry, the stress of delivering optimal results for clients in light of a complex, ever-changing tax code can detract from effective workforce management and compliance with employment laws. However, it is crucial for employers in any industry to periodically review…
Agency Reverts to 2008 Guidance The U.S. Department of Labor (DOL) has withdrawn its 2014 guidance regarding the meaning and scope of the term “employment relationship” under the federal Fair Labor Standards Act (FLSA) and replaced it with its guidance from 2008. As a result of this move, the DOL no longer advises that “most…
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