The article lays emphasis on which criteria shall the exemptions be judged. There are three classifications of exemption from the FLSA: Exempt Executive or Managerial, Exempt Administrative, and Exempt Professional. How the HR Department should design the work format based on such exemptions?
It may be a shock to discover that yes; you do have to pay your receptionist overtime. Or do you? The process of determining whether an employee is exempt or non-exempt can be confusing. But employers need to determine their employees' classifications in order to pay them in an appropriate,...
The misclassification of non-exempt employees as exempt is more than just an annoying problem for HR. It is a multi-million dollar gamble. Categorizing employees as exempt or non-exempt is no longer just a prickly payroll decision. Misclassification of employees as exempt from overtime pay when they are entitled to it...
Employers may soon need to review the "exempt" and "non-exempt" classification of employees under the federal Fair Labor Standards Act FLSA to determine whether they are correctly paying them. This is because the U.S. Department of Labor has proposed significant changes to FLSA regulations governing exempt employees. A recent attempt...
A real estate purchase option is a document that gives someone the right to purchase a piece of property at a fixed price during the term that the real estate purchase option is in effect. During the option period, the owner can not sell the property to anyone else and...
Exempt applications at all-time high. The 2004 Internal Revenue Service's Advisory Committee on Tax-Exempt and Government Entities report disclosed that the number of exempt applications filed with the IRS reached an ... Exempt applications at all-time high. The 2004 Internal Revenue Service's Advisory Committee on...
This calculator calculates rates of return, before and after taxes, for a taxable and tax-exempt bond. Rates of return are shown for two scenarios: holding the bond to maturity and selling before maturity. The calculator also uses a bar graph to show the composition of returns, in dollars, for capital...
Dear John Thain submits: One thing that came up often as Merrill’s MER recent C.D.O. sale and capital raise were discussed is how one could really say that the following two statements, from the Merrill press release, are not conflicting with my statement. Let’s examine the Merrill statements first…...
Are newsletter reporters and editors exempt from overtime pay requirements? This question came up occasionally during the authors' tenure with the newsletter association - and it's a relevant question once again, now that the U.S. Department of Labor has rewritten overtime regulations. Publishers, to a person, have tended to assume,...
In a letter to exempt organizations and tax practitioners, the IRS' Exempt Organizations Division recently announced that in fiscal year 2005 it plans to increase its focus on "exempt organizations to stem the growing tide of abuses within the tax-e In a letter to exempt...
The primary objective of an IRS audit of an exempt organization is to determine whether the organization is organized and operated in accordance with its exempt function. The primary objective of an IRS audit of an exempt organization is to determine whether the organization...
The Internal Revenue Service has established a Tax Exempt Advisory Committee to listen to concerns from the nonprofit industry on ... The Internal Revenue Service has established a Tax Exempt Advisory Committee to listen to concerns from the nonprofit industry on subjects such as employee plans,...
Exempt organizations must soon give IRS more financial data. A totally revamped Form 990 will debut in 2009, with new schedules for hospitals, foreign activities, noncash contributions and details of tax-exempt bond financings greater than $100 milli Exempt organizations must soon give IRS more financial data....
On August 23, new regulations went into effect that define which employees are exempt from the minimum wage and overtime requirements under the classifications of "Executive," "Administrative," and "Professional," among others. To determine if an employee is exempt, employers must examine aspects of the compensation and job duties and responsibilities.
NEW YORK -- Jupitermedia Corporation (Nasdaq: JUPM) today announced that it has sold its JupiterResearch division for $10.1 million in cash and the assumption of certain liabilities by the purchaser, subject to certain post-closing adjustments. The purchaser is JupiterResearch, LLC a subsidiary of JupiterKagan, Inc., which is a portfolio company...
SUNNYVALE, Calif.--BUSINESS WIRE--May 5, 1995--Identix Incorporated (ASE:IDX) announced today that it has retained Sutro & Co. Incorporated to act as standby purchaser in connection with the redemption of its Warrants (Nasdaq: IDNXW), subject to the execution of the underwriting agreement.
This calculator compares rates of return, before and after taxes, for two bond investments. User can select a Treasury security, corporate bond or municipal bond. Treasury securities are exempt from state income taxes. Municipal bonds are exempt from federal income taxes. In some cases, muni bonds are also exempt from...
For many years the Internal Revenue Service had only one main weapon to enforce the various rules and requirements applicable to organizations exempt from federal income tax: revoking tax-exempt status. But the IRS found many situations in which revo For many years the Internal Revenue Service...
