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Using independent contractors is a way to avoid paying unemployment, Social Security and Medicare taxes, overtime and benefits. However, if an employer is found liable of misclassifying an employee in tandem with committing wage and hour violations, DOL may fine the employer, and the employer may be assessed back wages and taxes. The U.S. Department of Labor (DOL) […]
If employees in a brokerage company merely comply with client wishes by executing transactions for them, the brokerage must properly classify their status under the Fair Labor Standards Act, and pay them overtime, when they work more than 40 hours in a work week. If the brokerage wants to exempt employees from the law’s overtime […]
When it comes to the Fair Labor Standards Act (FLSA), no employer is small enough to fly under U.S. Department of Labor’s (DOL’s) enforcement radar. Defunct 1st National Leasing Inc. agreed to pay eight former telemarketing employees $34,235 in back wages under a July 19 consent judgment that will put an end to DOL allegations […]
What a difference a couple of years makes. Not so long ago, a flurry of states passed legislation or ballot initiatives to increase their minimum wage rates. As recently as 2009, there were minimum wage increases in 24 states. Since then, it appears that changes in the political climate and in the economy have completely […]