Questions from Payroll Accounting

Q: What amount did the Final Rule stipulate as to the minimum wage

What amount did the Final Rule stipulate as to the minimum wage for salaried, exempt workers.

Q: When do overtime rates apply?

When do overtime rates apply?

Q: How does the tipped minimum wage differ from the FLSA minimum wage

How does the tipped minimum wage differ from the FLSA minimum wage?

Q: What types of occupations are typically salaried?

What types of occupations are typically salaried?

Q: What is the difference between a salary and a draw?

What is the difference between a salary and a draw?

Q: In what situations could a salaried employee receive overtime pay?

In what situations could a salaried employee receive overtime pay?

Q: Janice Lucas is the president of Miller Custom Coffee Roasters. She

Janice Lucas is the president of Miller Custom Coffee Roasters. She drives a 2020 Mercedes E300 with a fair market value of $57,500. The lease value is $14,750. The odometer started at 655 and was rep...

Q: Why do companies offer fringe benefits to their employees?

Why do companies offer fringe benefits to their employees?

Q: Alfredo Gonzalez, a waiter at Seven Wonders Restaurant in Honolulu,

Alfredo Gonzalez, a waiter at Seven Wonders Restaurant in Honolulu, Hawaii, receives the tipped minimum wage. During a 40-hour work week, how much must he earn in tips to meet the minimum wage require...

Q: What are three examples of excluded fringe benefits?

What are three examples of excluded fringe benefits?