Under the federal Fair Labor Standards Act (FSLA), you are required to pay time and a half to most types of employees who work overtime. A final rule announced in May, which becomes effective on December 1, 2016, has drawn attention to federal overtime rules. However, the overtime rules, including the new rule, are often misunderstood. Here are 10 misconceptions about these overtime pay rules -- and the truth about them -- to help employers stay compliant.

The Affordable Care Act (ACA) imposes responsibilities on certain employers. It also offers a tax break to certain employers. Who these employers are depends on the number of employees. For purposes of these numbers, the term "employees" includes full-time workers and full-time equivalent (FTE) employees. Here's how to determine your numbers and what this means to you.

One of the hottest issues with the IRS continues to be worker classification. Businesses may treat workers as independent contractors while the IRS may argue they are employees. If the IRS is successful in its position, companies must reclassify workers; reclassification means paying back employment taxes, plus interest and penalties. In many cases, it also means giving the reclassified workers employee benefits they were entitled to (e.g., medical coverage, retirement plan contributions). In other words, the consequences for being wrong are severe. However, there is some relief.