The US Department of Labor has implemented new overtime rules that are effective as of December 15, 2016. Are you familiar with the new rules, do you have any questions about implementing the rules? Businesses are also having audit issues with the way workers are categorized. Do you know all the IRS rules for how to categorize an employee? This course will review the IRS and Department of Labor rules.
Publication Date: January 2020
Designed For
CFOs, CEOs, business owners, business managers, internal auditors, human resource employees, human resource managers, external auditors, corporate accountants, government accountants, CPAs, CMA, CIAs and risk management personnel.
Topics Covered
- Categorizing Workers
- Cases
- 4 Options for Categorizing Workers
- Behavioral Control Factors
- Types of Instructions Given
- Evaluation System
- Training
- Financial Control Factors
- Written Contracts
- Employee Benefits
- Services Provided as Key Activity of the Business
- Penalties for Noncompliance
- Penalties for Fraud
- Minimum Wage & Overtime
- Federal Labor Standards Act (FLSA)
- New Forms
Learning Objectives
- Identify how to categorize workers
- Identify the rules for providing overtime
- Describe the three categories of statutory nonemployees
- Recognize the three rules to determine if someone is an independent contractor
- Recognize the criminal fraud penalty if a company misclassifies a worker
- Differentiate the categories of employees
- Identify the behavioral control factors to determine if someone is an independent contractor
- Identify the financial control factors to determine if someone is an independent contractor
- Recognize exempt employees
- Describe the fixed and regularly recurring period for an employee's workweek
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (1 hour), Taxes (1 hour)
Program Prerequisites
A basic understanding of payroll.
Advance Preparation
None
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.