No Tax on Overtime: Payroll Compliance

Overview

This course provides tax and accounting professionals with a comprehensive overview of overtime requirements under the Fair Labor Standards Act (FLSA). Participants will explore the statutory definition of overtime, exemptions, and the calculation of the “regular rate of pay.” Through practical examples and compliance-focused scenarios learners will gain the skills to identify risks, properly compute overtime pay, and advise clients or employers on best practices. The course emphasizes regulatory compliance, accurate application of rules, and strategies to avoid common pitfalls in wage and hour audits.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

This course is being offered by a learning partner and will not be accessible on your My CPE page. Access information will be emailed directly to you by CPA Crossings.

Highlights

The major topics that will be covered in this course include:

• Overview of the Fair Labor Standards Act (FLSA) overtime provisions
• Definition of a “workweek” and the 40-hour threshold
• Time-and-a-half requirement and exclusions from overtime pay
• Exempt vs. nonexempt employee classifications (executive, administrative, professional, and industry-specific exemptions)
• Excluded payments (discretionary bonuses, reimbursements, retirement contributions)
• Step-by-step calculation examples for different compensation structures
• Best practices for documentation and payroll systems
• Case studies illustrating misclassification and miscalculation issues

Prerequisites

None

Designed For

Enrolled Agent, CPA, Attorney, Tax Practitioner

Objectives

After attending this presentation, you will be able to...

• Identify overtime requirements under the FLSA, including the 40-hour workweek threshold
• Identify categories of employees exempt from overtime provisions
• Calculate the regular rate of pay, incorporating nondiscretionary bonuses, commissions, and other compensation
• Apply overtime rules to practical scenarios involving hourly, salaried, and commission-based employees
• Evaluate compliance risks and recommend corrective measures to mitigate exposure during wage and hour audits

Preparation

None