At Christianson, we track any and all changes that impact our clients and the way their accounting processes are done. In this case, accounting for leases, which always has been a complex area, is undergoing significant change with the release of new lease standards by the Financial Accounting Standards Board (FASB). On February 25, 2016,… Continue Reading
Accounting and Auditing
Federal Judge Blocks Overtime Rule
Federal Judge Blocks Overtime Rule An employee’s exempt status is based on duties performed, not wages paid. A U.S. District Judge issued a nationwide injunction stopping implementation of the Department of Labor’s rule on overtime pay for exempt employees. It was set to take effect on December 1. According to the Washington Times, the judge ruled:… Continue Reading
MN Minimum Wage Increase 2016
Effective August 1, 2016, the minimum wage in Minnesota will increase. The increase will impact all businesses, including agri-businesses. Hourly Rate Overview Below is a brief overview of the new minimum wage rates for hours worked beginning August 1, 2016. LARGE EMPLOYER Any enterprise with an annual gross dollar volume of sales made or business done… Continue Reading
