FLSA Changes Are Here!

Changes to the FLSA – White Collar Exemption The U.S. Department of Labor’s long-anticipated “Final Rule,” regarding changes to the Fair Labor Standards Act (FLSA) was finally issued on May 18, 2016.  It updates the federal white collar overtime exemptions by raising the minimum salary required to qualify as an exempt employee to $47,476 per year.  The Final Rule becomes effective December 1, 2016. What has changed?  — By way of background, under prior regulations, employees needed to meet certain job duties tests and receive wages of at least $455 per week, or $23,660 annually, on a salaried basis to […]

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Are you ready? — Wage and Hour Changes

Will I have to start paying overtime soon?   Astute employers are reviewing available options to mitigate the potential economic impact of the imminent release of new federal Fair Labor Standards Act overtime regulations. The Department of Labor estimates that average annualized direct employer costs could total between $239.6 and $255.3 million per year. If you’ve been out of the loop and are wondering why this is such a controversial issue, here’s a quick rundown: In June 2015, the DOL announced that it had proposed a rule to increase the required minimum salary for most Fair Labor Standards Act (FLSA) […]

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Franchise?

What is a franchise business? What does a good franchise agreement look like? Most likely, you have driven by many franchises in your own town or city. Examples of well-known franchise business models include Subway, UPS, McDonalds, and H & R Block. In the United States, there are franchise business opportunities available across a wide variety of industries. Franchises are an extremely common way of doing business. In a franchise, the owners, or “franchisors”, sell the rights to their business logo, name, and model to a third party operator called “franchisees”. The franchisee must first pay an initial franchise fee for the […]

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What is a franchise business and what does a good franchise agreement look like?

Most likely, you have driven by many franchises in your own town or city. Examples of well-known franchise business models include Subway, UPS, McDonalds, and H & R Block. In the United States, there are franchise business opportunities available across a wide variety of industries. Franchises are an extremely common way of doing business.   In a franchise, the owners, or “franchisors”, sell the rights to their business logo, name, and model to a third party operator called “franchisees”. The franchisee must first pay an initial franchise fee for the rights to the business, equpiment and the training required by a […]

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