8180 NW 36th St., Suite 301, Doral FL 33166 (305) 517-3977 info@ia.tax

Department of Labor Has New Rules

Department of Labor Rules

The Dept. of Labor has implemented new rules related to overtime. These rules will go into effect on January 1, 2020. In the final rule, the Department is:

  1. Raising the “standard salary level” from the currently enforced level of $455 per week to $684 per week (equivalent to $35,568 per year for a full-year worker).
  2. Raising the total annual compensation requirement for “highly compensated employees” from the currently enforced level of $100,000 per year to $107,432 per year.
  3. Allowing employers to use non-discretionary bonuses and incentive payments (including commissions) paid at least annually to satisfy up to 10% of the standard salary level, in recognition of evolving pay practices.
  4. Revising the special salary levels for workers in U.S. territories and the motion picture industry.

So, what does all this mean for your business?   Give us a call at 305-517-3977 and we’ll discuss it with you as it applies to your set of circumstances. 

Mathew Shiebler, CPA

Matthew Shiebler, CPA is the President of Interactive Accountants, LLC a CPA Firm based in Doral. He is a licensed CPA in the states of Florida, New Jersey and New York and a member of the American Institute of Certified Public Accountants (AICPA). Since 1993, it has been his mission to help small and medium sized companies to comply with all their accounting needs. Whether it be taxes, finances or acquisitions and mergers, Matthew is well versed in all aspects. Matthew has unique experience in the hospitality and restaurant industries, law firms, medical practices, e-commerce, technology firms and start-ups. It is his passion to bring his experience and knowledge to all his clients.

Youtube Payroll & Related

About Us

At Interactive Accountants, we have one primary goal. We help you minimize your taxes and measure your success. Throughout the years, we’ve helped hundreds of entrepreneurs by taking accounting matters off their plate, providing stellar ongoing tax advice and amazing customer support.

Contact Info

Address:
8180 NW 36th St., Suite 301, Doral FL 33166

Phone:
(305) 517-3977

Email:
info@ia.tax