Los Angeles partners Mark E. Terman and Pascal Benyamini authored article for the March/April 2012 Edition of California CPA Magazine. The article addresses employee classifications and is titled, "Courts on the Move, Recent Rulings Provide Limited Guidance to the Question: Who's Exempt?"
In their article, Mark and Pascal discuss the recent rulings by federal and state courts in California as to whether non-licensed accountants are exempt from overtime laws. The article also provides a primer on the rules and guidelines surrounding employee classification issues and ways to avoid overtime exposure. This is an important issue for many accounting firms, some of whom mistakenly assume that all accountants are exempt. The financial consequences of misclassification can be huge.
CalCPA serves 36,000 members of the California Society of CPAs whose mission is to increase the value and promote the integrity of the CPA profession; contribute to the success of our members; and strengthen client, employer, public and government trust in CalCPA member advice, work products and opinions.
Click on the PDF link below to view the entire article.