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How Updated Overtime Laws Affect You
On December 1 , 2016 , a newly enacted federal law increased the minimum wage required for overtime compensation . Affecting 4.2 million workers , it boosted earnings for those with annual salaries below its $ 47,476 annual threshold .
BOOSTING MORALE from the Outside In
The trend in office spaces , like those of tech giants Google and Facebook , is to cultivate a positive vibe — a reflection of the company ’ s culture through office decor and atmosphere . Not only does it convey your business ’ s personality to clients but it also reinforces company values to employees .
Create the Vibe The first step in creating the right vibe is making your office look like the type of place that would fit the people you want to work there . At the same time , two qualities companies desire employees to have are enthusiasm and motivation . An easy way to encourage these is by bringing more greenery into your workspaces .
Watch It Grow A recent study from the American Psychological Association compared two office styles — one plant-free , the other plantfriendly — and found that the latter saw productivity increase by 15 %. Employees enjoyed that space more , reporting higher levels of concentration .
What does that mean for you ? For employees who earn less than $ 913 per week , don ’ t supervise two or more employees , and don ’ t have hiring and firing capabilities , your company will have to : ÎBoost Î pay . Wages must be increased above the new threshold
ÎSet Î boundaries . Limit the amount of hours employees work
ÎCompensate Î for overtime . Pay timeand-a-half for hours beyond a 40-hour workweek .
To determine your best course of action , visit the Department of Labor online for a detailed breakdown of the law , assess current workloads , and evaluate available funds for raises , overtime , or new hires .
The above is for informational purposes only and does not constitute legal advice .
Film Tax Credits : Your Next Big Role ?
Recent legislation has increased New York ’ s refundable film production tax credit from 30 % to 40 %, making the Hudson Valley an even more ideal spot for filmmakers and television studios to produce their next hit . You can profit from this expected pilgrimage by renting your office as a backdrop for filming . In some instances , daily location rental fees can equal a mortgage payment , with the length of the rental determining whether or not federal taxes need to be paid .
ÎGET Î LISTED . Contact location scouts to get your property listed in a reputable guide . One helpful resource : hudsonvalleyfilmcommission . org .
ÎASK Î QUESTIONS . Once your space is an option , ask for details . What ’ s the nature of the project and its timeline ? Also , make sure they have insurance and are registered .
Î ÎESTABLISH FEES . You can choose either an all-inclusive or itemized payment structure to get the greatest financial benefit from your involvement .
2 | SNB . COM // CONNECT CULTURE WINTER 2017