After many years, the overtime pay law may be changing. As it stands now, those workers covered by the Fair Labor Standards Act (FLSA) of 1938 must be paid at least time and a half for each hour worked over 40 hours in a workweek. While this rule won't change, the number of employees covered under it will.

Under the current policy, employers are required to pay overtime to all hourly employees, but for salaried employees, there are two tests used to determine if overtime pay is required; the salary test and the duties test. Employers must pay overtime to those salaried employees earning less than $23,660 (the salary test) per year or those who do not have advanced job titles (the duties test).

The new proposal will increase the salary threshold to $50,400 and leave the duties test the same. This will require employers to track the hours of a larger number of salaried employees given that more will fall under the threshold.

The proposed changes are currently open for public comment. The new requirements are projected to be adopted by the end of 2015 and will take effect starting in 2016.

For updates on the progress of these proposed overtime pay changes, please contact your professional at UHY LLP in Detroit 313 964 1040, Farmington Hills 248 355 1040 or Sterling Heights 586 254 1040, or visit us on the web at www.uhy-us.com

Tired of the old approaches to finance and accounting? Come learn from the experts why Modern Finance is changing the industry.

Join us at UHY's training center in Farmington Hills on Thursday, August 20 for The Modern Finance Tour in Detroit. You'll learn directly from the experts at BlackLine and co-hosting partner, UHY Advisors, how Modern Finance is transforming the finance and accounting processes in organizations, including best practices for account and intercompany reconciliations and for accelerating the financial close. You'll also hear first-hand how a successful company has accelerated their processes and improved the way finance and accounting work across their organization. The schedule of events is as follows:

3:00-4:00 Accelerate and modernize your finance transformation
Learn best practices and accounting insight for modernizing processes from BlackLine's finance transformation expert, Bob Davenport.
4:00-4:30 Improving the finance and accounting function
UHY Advisors' Brad Baer demonstrates how they've worked with global clients to improve accounting, finance, governance, risk and compliance.
4:30-5:00 Open discussion
5:00-6:00 Cocktail reception and networking

This complimentary event is geared towards companies who currently face challenges in creating an efficient and effective record-to-report process and how new accounting automation tools can help address these challenges. Finance and accounting professionals should take advantage of this great opportunity to network with their colleagues and learn how Modern Finance can enhance controls for reporting and compliance purposes, as well as assist in a more strategic use of finance and accounting resources.

Earn up to 2 CPE credits. Pre-registration is required. Cocktail reception with hors d'oeuvres included. Space is limited. Click here to RSVP.

8/25 UHY LLP SALT BREAKFAST FORUM: THE FUTURE OF SALES TAX - ARE YOU READY?
Michigan enacts new legislation effective October 1 - are you ready for it? No matter the size or nature of your business, every organization must deal with the complexity of sales tax. Join us in Farmington Hills on Tuesday, August 25 for a discussion on current sales tax issues and how use tax can unknowingly impact your business. The schedule of events is as follows:

7:30AM-7:50AM Registration, breakfast and networking
7:50AM-8:00AM Opening commentary
8:00AM-8:45AM Sales and use tax discussion including Michigan 2014 Public Acts 553 & 554
8:45AM-9:15AM Making sales tax less taxing
9:15AM-9:30AM Interactive discussion

CPE credit will be offered. Pre-registration for this complimentary program is required. Breakfast will be provided. Space is limited. Multiple registrations are welcome. To RSVP contact Jessica Dalessandro.

9/15 UHY LLP ANNUAL NOT-FOR-PROFIT UPDATE
Please join us at UHY's training center in Farmington Hills on Tuesday, September 15 from 7:30AM-9:30AM for the Annual Not-For-Profit Update. Discussions include industry developments and risk alerts, proposed changes to NFP financial reporting, upcoming changes to the Single Audit, other best practices and developments, and an interactive discussion.

CPE credit will be offered. Pre-registration for this complimentary program is required. Breakfast will be provided. Space is limited. Multiple registrations are welcome. To RSVP contact Drew Matthews.

10/22 UHY LLP ANNUAL MANUFACTURING OUTLOOK
Save the date for Manufacturing Outlook "Built To Compete: Embracing Risk For a Sustainable Future". Join us at The Detroit Athletic Club to learn more about developing industry trends including government policy and legislation, economic forecast, corporate governance, technology, business sustainability, and staying competitive.

Thursday October 22
7:30AM-11:30AM

CPE credit is available. Shinola watch to be auctioned off to benefit The Empowerment Plan. Pre-registration for this complimentary program is required. Breakfast will be provided. Space is limited. Multiple registrations are welcome. To RSVP contact Jessica Dalessandro. Formal invitation to follow.

A playback of last year's seminar, which had record attendance, can be found in our video library. You can also download an electronic copy of the presentation slides.

SAVE THE DATE! MORE UHY EVENTS ARE JUST AROUND THE CORNER...
11/12 UHY LLP Construction Outlook 2016
12/2 UHY LLP Annual Accounting and Regulatory Update

 

UHY LLP MAKES SIGNIFICANT CONTRIBUTION TO SUPPORT RONALD MCDONALD HOUSE BY "SOCKING" CO-WORKERS
During the weeks of June 15 to June 30, employees from UHY LLP's Michigan practice in conjunction with UHY Cares, purchased and sported nearly 200 pairs of red and white socks to be a part of the "Ronald Sock Challenge". The challenge is both an awareness campaign and fundraiser for the Ronald McDonald House Charities of Southeast Michigan . The certified public accounting firm raised over $3,000 in employee donations in just over a week. With UHY adding to the success of the challenge, the total amount raised by companies across Michigan is close to $20,000.

The challenge started as a friendly local office versus office competition for a good cause. But because it took place at the same time as UHY's National Leadership Conference (NLC), they turned it into a company-wide event and received contributions from their colleagues around the country. Employees at all levels had a great time "socking" co-workers (pay-it-forward concept), dressing up with their families and submitting creative photos to add to the fun of the competition.

Bob Potter, president of the mid-Michigan Chapter of Ronald McDonald House Charities, and Tom Alongi, active member of Ronald McDonald House Charities were instrumental to the success of the campaign at UHY. Bob even wore a pair of the socks during his speech at the NLC which resulted in the generous donations from the attendees of the conference. He also personally offered up a cash prize to the winner of the funniest sock photo.

"The Ronald Sock Challenge has raised thousands of dollars for the Ronald McDonald House of Detroit," says Jennifer Litomisky Executive Director of Ronald McDonald House Charities of Southeast Michigan. "Companies like UHY have been champions of the challenge and we are very fortunate to have their support. This challenge started in May and continues to be a successful fundraiser and social awareness campaign."

Ronald McDonald House recently opened a new location in Detroit, and the Ronald Sock Challenge is one component of the charity's expansion campaign. The new house will feature a much bigger living space than the current location and will allow families of sick children to feel more at home during a difficult time in their lives. Funds raised during the Ronald Sock Challenge will go towards the expansion of the house and making the families more comfortable during their stay. The goal for the expansion campaign is to raise $3 million by 2016 and they have raised nearly $2 million so far.

CAREERS AT UHY
Are you ready to take charge of your career path? Be sure to visit our careers page for the most up-to-date listings or contact Yolanda Rountree. Current opportunities in our Michigan offices include: