Are You Aware of the New Overtime Rules?

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 Louri Rivero Borr Rivero, CPA
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Mark Your Calendar - Important Dates...  

·  NJ Sales and Use Tax second quarter - July 20

·  Payroll Tax returns for second quarter- July 30

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Extended Senior Freeze

NJ Dept of Taxation has extended the filing date for the Property Tax Reimbursement (Senior Freeze) Program to October 17, 2016. Click here for more details.

New DOL Overtime Rules 

The Department of Labor (DOL) has implemented new overtime rules that could significantly impact how employers pay their employees.



The new FLSA overtime rules doubles what minimum salaries are for many positions from $455 per week to $913 and OT rates are impacted.  

Companies have until December 1, 2016, to make the required changes to employee compensation.  Exceptions exist for certain white collar positions and companies with lower income thresholds.  

We suggest that you work with your respective payroll company, employment attorney and your CPA to help you comply with the new regulations.

To Buy or Rent a Home? Weighing Which is Better

The question of whether it makes more financial sense to rent or buy a home is not necessarily straightforward, and much depends on an individual's circumstances and the state of the housing market.  

We at Rivero CPA can help with that analysis. Click the button below to read the NY Times article on this topic. Read more.

 

Louri Rivero Borr is a CPA licensed in both NJ and NY, with over 25 years of experience. The firm can provide you with unparalleled accounting services, provide tax services and advice, and perform audits, reviews or compilations.

Our clients, businesses and individuals, can expect us to cater to their unique needs. As member of QuickBooks Professional Adviser program, we can help you with your accounting software needs. You will receive personal attention and expert service from start to finish. Our mission is to focus on your current needs and future requirements.

Call 908-935-0181 for an appointment. Visit our website at www.riverocpa.com.

The opinions expressed herein are the writer's alone, and do not reflect the opinions of TAPinto.net or anyone who works for TAPinto.net. TAPinto.net is not responsible for the accuracy of any of the information supplied by the writer.

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