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Minimum Wage & Overtime Update 2024-2025 1 Credit

Minimum Wage & Overtime Update 2024-2025 1 Credit

  • Rating

    4.5
  • Published on

    August, 2024
  • Subject Area

    Business Law

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Learning Objective

  • Review new salary thresholds and exemption criteria for overtime eligibility.
  • Know how to calculate overtime pay, including adjustments for nondiscretionary bonuses and commissions.
  • Discuss overtime regulations for tipped employees and their implications.
  • Differentiate between federal and state-specific overtime requirements and compliance.
  • Apply recent updates to overtime rules in various workplace scenarios.

Course Overview

The new overtime rules, recently implemented, represent a significant shift in how overtime pay is calculated and applied across various industries. Both employers and employees must understand these new regulations to navigate the evolving labor landscape effectively.

In this CE Course, we will discuss the changes in the minimum salary requirement for exempt employees to $844 per week. We’ll also dive into overtime pay, a vital aspect of wage law. For non-exempt employees, overtime must be paid 1.5 times the regular rate for hours worked beyond 40 in a workweek. Special considerations apply to tipped employees: overtime must be calculated based on the full minimum wage, not the lower cash wage when using a tip credit. Recent regulatory updates clarify that tip credits only apply to work directly related to tip-producing tasks, ensuring that supportive duties are also appropriately compensated.

Key topics covered:

  • Min Wage
  • Legislative Activity
  • Minimum Wage
  • Legislative Activity
  • Federal Overtime Requirements
  • State Overtime Requirements

Lastly, we’ll explore how state-specific overtime regulations can impact your compliance efforts. While federal law sets the baseline, many states have additional requirements. Join us as we break down these regulations and provide practical insights to help you navigate the evolving landscape of overtime laws effectively.

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  • 1 CPE Credit of Business Law for Certified Public Accountants (CPA-US)
  • 1 General Credit of Business Law for Accountant/Bookkeeper/Tax Professionals
  • 1 PDC Credit of Legal update for SHRM Professionals (Approval No. 24-AYCXF)

    Valid upto : Dec 31, 2024

  • 1 RCH Credit of Core Payroll Concepts for Certified Payroll Professional (CPP) (Approval No. 24CPE083)

    Valid upto : Dec 31, 2024

  • 1 RCH Credit of HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 677208)

    Valid upto : Nov 30, 2024

  • 1 RCH Credit of Core Payroll Concepts for Fundamental Payroll Certification (FPC) (Approval No. 24CPE083)

    Valid upto : Dec 31, 2024

  • 1 CPE Credit of Business Law for Iowa Licensed Public Accountant (IA-LPA)
  • 1 CPE Credit of Business Law for Maine Licensed Public Accountant (ME-LPA)
  • 1 CPE Credit of Business Law for Delaware Licensed Public Accountant (DE-LPA)

  • 1 CPE Credit of Business Law for Certified Public Accountants (CPA-US)
  • 1 General Credit of Business Law for Accountant/Bookkeeper/Tax Professionals
  • 1 PDC Credit of Legal update for SHRM Professionals (Approval No. 24-AYCXF)

    Valid upto : Dec 31, 2024

  • 1 RCH Credit of HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 677208)

    Valid upto : Nov 30, 2024

  • 1 CPE Credit of Business Law for Iowa Licensed Public Accountant (IA-LPA)
  • 1 CPE Credit of Business Law for Maine Licensed Public Accountant (ME-LPA)
  • 1 CPE Credit of Business Law for Delaware Licensed Public Accountant (DE-LPA)

Additional Information

Credits

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Advance Your Career with Expert CE Courses by Dayna Reum
Dayna Reum

Specialist, Ann & Robert H. Lurie Children's Hospital of Chicago

  • 4.4
  • rating
  • rating
  • rating
  • rating
  • rating

Dayna currently is the director of payroll operations at a major medical center in Chicago and has been heavily involved in the payroll field for more than 20 years.

She started as a payroll clerk at a small Tucson company but moved on to be a payroll team leader at Honeywell Inc. 

During her time at Honeywell Inc., she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. Dayna has also received several merit awards for customer service and acquisitions, and divestiture.

She also serves on the National American Payroll Association on the national Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee), and received a citation of merit for her service along with being a gold pin member of the APA.

Dayna is also a CPP (Certified Payroll Professional) through the APA and certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.


On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

4.5

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MM

Mark Mckenna, CPA (US)

Very informative, presenter did a great job going through the information, easy to follow

PH

Patsy Hasty, CPA (US)

Great experience! Received needed knowledge on new minimum wage requirements.

Inclusions
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    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

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