CPE PACKAGES (Incl. Ethics) for Multiple States and Qualifications @ $4/credit. CLICK HERE to view.

Salaried Means Exempt, Right? - Deciphering the Myths Surrounding Employee Classification

  • CMA
  • CPA (US)
Salaried Means Exempt, Right? - Deciphering the Myths Surrounding Employee Classification

1 Credit

FREE

Subject Area

Business Law

Webinar Qualifies For

1 CPE credit of Business Law for all CPAs

1 CPE credit for Certified Management Accountants (CMA)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

You are not entitled to earn overtime wages because your hourly rate is at least twice (2x) the minimum wage, right?

Wrong!

You are paid a salary rather than an hourly rate, so you are therefore exempt from overtime laws, right?

Wrong!

Your employer does not owe you overtime wages simply because your title includes the word “manager,” or your job requires that you maintain a professional license, right?

Wrong again!

There are so many myths and misconceptions about overtime wages in California, and it is time to set the record straight.

A high salary doesn’t automatically make an employee exempt in California, and neither does a fancy job title. California and federal rules on classifying an employee as exempt are complicated and often misunderstood. But this doesn’t change that an employee's status as either exempt or non-exempt is a critical issue for employers. One that employers must get right in order to avoid significant liability. Classification mistakes are highly litigated and extremely costly for employers, because an incorrectly classified employee may be owed back-pay nightmare, interest, penalties for failing to pay all wages/overtime as well as payment of attorney fees in pursuing the claim. In this webinar, we will review the general rules for classifying employees, both at the federal level as well as in California. In addition, we will provide an overview of certain requirements that apply specifically to exempt employees in California.

Federal and state laws exempt certain employees from wage and hour requirements, including overtime pay and meal and rest break requirements. If you have a problem distinguishing between exempt and non-exempt employees in your company, you are not alone. Some of the largest multimillion-dollar awards of back pay by the courts stem from employers’ misclassification of non-exempt employees as exempt from overtime.

In this practical CPE/CE webinar, we will be discussing the details around exempt and non-exempt employees and how each classification may impact you and your organization by covering the following major topics:

  • Employee Classification
  • Specific Exemptions
  • Timekeeping Practices
  • Recent Legal Updates
  • Top Five Mistakes Employers Make in Classifying Employees

Learning Objectives

  • To explore the terms, exempt, non-exempt and salary basis.
  • To define the requirements under the FLSA regulations that are used to classify workers as exempt.
  • To explore each category of exempt employee and the job duties requirements that must be met.
  • To identify the requirements that must be met to properly pay an exempt employee on a salary basis.

Who Should Attend?

  • Certified Management Accountant
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • HR Professionals
  • Human Resources Manager
  • Young CPA