Under the Fair Labor Standards Act (FLSA) employers are expected to classify their employees as either exempt or nonexempt.
What’s the difference between the two?
“Now that my income tax return has been filed and the filing deadline has passed, I can shred all my tax documents,
If you have nonexempt employees who work more than 40 hours in a single workweek performing two or more different jobs with different pay rates,
Between 1940 and 1975, the minimum wage for exempt employees was raised every five to ten years. In 1975, the minimum salary for exempt employees was set at $8,060 and $8,840 per year,
The task of preventing and detecting fraud has grown from exposure within the organization to dozens of emerging fraud threats that pop up every day due to cybercrimes.
An accounting issue that commonly plagues not-for-profit organizations is the proper recording of revenue that is received for a specific purpose.
According to the AICPA, there has been widespread concern that the current nature of lease expense is not being accounted for in a way that truly represents the economics behind lease transactions.
Despite efforts put in place by the Internal Revenue Service and by the individual states, tax fraud continues to exist and to evolve.
When a non-profit receives grants, awards, membership dues or sponsorships, the organization needs to make a determination to the treat the transaction as an exchange transaction (earned revenue) or a contribution.
Our fee to complete your tax return is based on the time we expend and the level of experience necessary for preparation.
HBL CPAs is a full-service Certified Public Accounting firm based in Tucson, Arizona. HBL has been providing tax services, accounting services, auditing and attestation services, consulting services, and various other services since 1973.
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