Payroll Updates 2016

David Sanders
Instructor:
David Sanders
Duration:
90 Minutes
Product Id:
500795
Access:
6 months

More Trainings by this Expert

Price Details
$190 Recorded
$390 Corporate Recorded
Price Detail Options
Overview:

Payroll Updates will give you an understanding of the latest regulation changes that impact your company including but not limited to; Changes in the duties test, updated "Primary Duties" and "Permit to Suffer" changes, how to classify "working time or worked time", exempt and non-exempt, proposed rules changes in classifications for 2016 "new rules", how to calculate overtime, understanding taxable gifts, bonus and awards (parking, achievement awards, length of service awards, athletic facilities, deminmus benefits, 2016 mileage rates, common pitfalls of Wage and Hour laws that can be costly, when you can give 'Comp Time" instead of overtime, Misclassification of Employees as Independent Contractors, understand common Law Rules-Facts that provides evidence of the degree of control and independence plus Best Practices in Payroll

Why should you Attend: What your company does not know can hurt them. That's never more true than dealing with payroll. The first step to complying with regulations is understanding them. Payroll management sounds like a simple process, on the contrary, it can be a daunting task. Payroll laws and regulations are constantly changing making payroll into a legal mine field and easy to make mistakes. Companies are finding their selves on the wrong end of lawsuits, audits, investigations and claims for payroll regulation violations daily.

In this ever changing world of business, it is critical that we correctly determine whether the individuals providing services to our companies are employees or independent contractors and per the statutes report such in the correct manner to avoid audits and other enforcement efforts. The IRS says if you treat employees as nonemployees you will be liable for all social security and Medicare taxes and withholding taxes for the entire period of misclassification plus all penalties and interest. The employer also must be aware the with the Federal & State governments systems share any non compliance.

With this world of competitiveness, businesses are pushed to supply customers the best prices. One of the way companies are trying to cut expenses is reclassifying employees.

As your self this question: Can your company afford to make a million dollar mistake?
Case in point: Recently a US employer was assessed a $18.3 million dollar fine by U. S. Department of Labor for Payroll Violations (DOL September 29, 2015).

Areas Covered in the Session:

  • Understand Workers Misclassification Exempt vs. Non-Exempt 2016
  • Learn critical FLSA regulation you can not afford not to know
  • Understand Misclassification of Employees as Independent Contractors
  • Understand current duties test, updated "Primary Duties" and "Suffer or Permit"
  • How to classify "working time" & How to calculate overtime by DOL standards
  • Common Law Rules-Facts that provides evidence of the degree of control and independence
  • Best Practices in Payroll
  • You will acquire confidence that your workers are classified correctly
  • How to obtain help in the determination/ How to use the SS-8
  • How to keep accurate time records for workers

Who Will Benefit:
  • Managers
  • Supervisors
  • Team Leaders
  • Employees
  • Any one who is Non Financial or Accounting Personnel
  • Accounting Personnel who want a refresher


Speaker Profile
David Sanders is considered one of the worlds leading experts/trainers in accounting, finance, accounts payable, accounts receivable, budgeting, collections, cost accounting, personal finance, personal income taxes, business taxes, business set up, sales & use taxes. internal controls, inventory management, cycle counting, record keeping and vendor, supplier management. He has continuous requests to train employees and to hold public seminars. He has conducted approximately 10,000 training sessions, including public seminars, on-sites, company training, chamber of commerce's, colleges, training videos, CD's and webinars worldwide.

David is called upon for his SOX training abilities and to perform, walk through interim testing for core financial processes such as internal controls, risk analysis, COSO analysis, fraud detection, internal controls, financial reporting, revenue, inventory, and expenditure testing. Member Sarbanes Oxley Compliance Professional Association (Life Member Status) and Key Trainer. The author of four acclaimed books (Budgeting, Forecasting, Strategic Planning, Strategic Thinking) and over 25 seminar workbooks and numerous webinars. David has a talent for breaking things down into easy to understand steps that can be implemented immediately. David was an Endorsed Local Provider for the Dave Ramsey Show covering the greater Cincinnati, Northern KY and Eastern Indiana areas.

David has a wealth of experience to share that is supported by impeccable financial credentials including over 37 years experience in the financial industry. He holds numerous degrees including Associate in Accounting, Bachelors in Business Administration, Masters in Taxation and PhD in Finance. His experience has included Accounting Manager, Corporate Controller, CFO, Government Tax Auditor, Business Consultant, and Senior Partner for various Accounting/ Tax/ Auditing firms nationally.




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