U.S. Department of Labor Issues Final Overtime Rule

The U.S. Department of Labor announced a final rule to make 1.3 million American workers eligible for overtime pay under the Fair Labor Standards Act (FLSA).

“For the first time in over 15 years, America’s workers will have an update to overtime regulations that will put overtime pay into the pockets of more than a million working Americans,” Acting U.S. Secretary of Labor Patrick Pizzella said. “This rule brings a commonsense approach that offers consistency and certainty for employers as well as clarity and prosperity for American workers.”

“Today’s rule is a thoughtful product informed by public comment, listening sessions, and long-standing calculations,” Wage and Hour Division Administrator Cheryl Stanton remarked. “The Wage and Hour Division now turns to help employers comply and ensure that workers will be receiving their overtime pay.”

The final rule updates the earnings thresholds necessary to exempt executive, administrative, or professional employees from the FLSA’s minimum wage and overtime pay requirements, and allows employers to count a portion of certain bonuses (and commissions) towards meeting the salary level. The new thresholds account for growth in employee earnings since the currently enforced thresholds were set in 2004. In the final rule, the Department is:

  • raising the “standard salary level” from the currently enforced level of $455 to $684 per week (equivalent to $35,568 per year for a full-year worker);
  • raising the total annual compensation level for “highly compensated employees (HCE)” from the currently-enforced level of $100,000 to $107,432 per year;
  • allowing employers to use nondiscretionary bonuses and incentive payments (including commissions) that are paid at least annually to satisfy up to 10 percent of the standard salary level, in recognition of evolving pay practices; and
  • revising the special salary levels for workers in U.S. territories and in the motion picture industry.

The final rule will be effective on January 1, 2020.

For more information about the final rule, click here.

HSC Promotions Announced

HSC is proud to announce the promotion of the following individuals.

From left: Mitchell Meurer, Senior Associate, Accounting and Auditing Department.
Madeline Smith, CPA, Senior Associate, Tax Department.
Mallory Schmitt, CPA, Senior Associate, Tax Department.
David Mills, Senior Associate, Advisory Services Department.
Jeff Marx, Benefits Specialist, Outsourcing Department.
Eden Flockhart, CPA, CIA, CGMA, Senior Associate, Advisory Services Department.
Sarah Wittenbraker, CPA, Client Accounting Consultant, Outsourcing Department.
Erin Stewart, Payroll Expert, Outsourcing Department.
Brandon Medcalf, Senior Associate, Accounting & Auditing Department.

Senior Associate Promotions Announced

HSC is proud to announce the promotion of the following employees to Senior Associate in the Louisville office.

New Senior Associates (from left): Natalie Kelly, Tax Department; Anna Pohlgeers, CPA, Accounting and Auditing Department; Nick Stephenson, MBA, Accounting and Auditing Department; Emily Lamb, MBA, Advisory Services Department.

Managers and Supervisor Promotions Announced

HSC is proud to announce the promotion of the following employees.

New managers in the top row are (from left): Angie Gardner, CPA, Outsourcing Department; Callie Cessna, CPA, Tax Department; Cyndi Hines, CPA, Accounting & Auditing Department.

New managers in the center row are (from left): Jason Warford, CPA MAcc, Outsourcing Department; Leslie Cline, CPA, Tax Department; Patrick Harbeson, CPA, Accounting & Auditing Department.

New managers in the bottom row are (from left): Patrick Schroeder, CPA, Tax Department; Becky Brinkman, CPA, Outsourcing Department.

New supervisor in the Tax Department is James Snepp (bottom right).

HSC Promotes Six to Senior Manager

Harding Shymanski is pleased to announce the promotion of six employees to senior management roles for the firm.

Ashley Schultz, CPA, has been promoted to Senior Manager in the Accounting & Auditing Department. A magna cum laude graduate from the University of Southern Indiana, Schultz joined the firm in 2010 and is a member of the firm’s Construction and Employee Benefits Audit teams.

Christopher Schwenk, CPA, has been promoted to Senior Manager in the Accounting & Auditing Department. A summa cum laude graduate from the University of Southern Indiana, Schwenk joined the firm in 2009 and is a member of the firm’s Construction and Manufacturing teams.

Franklin Kincaid, CPA, has been promoted to Senior Manager in the Accounting & Auditing Department. A University of Evansville graduate, Kincaid joined the firm in 2011 and is a member of the firm’s Construction, Manufacturing, and Employee Benefit Audit teams.

Kim Kinnaman, CPA, CVA, has been promoted to Senior Manager in the Advisory Services Department. A University of Southern Indiana graduate, Kinnaman joined the firm in 2005 and was a member of our Accounting & Auditing Department prior to joining Advisory Services.

Kyle Conapinski, CPA, has been promoted to Senior Manager in the Tax Department. A University of Southern Indiana graduate, Conapinski has over 18 years of tax experience and is a member of our Construction Team.

Mandy Cox, CPA, has been promoted to Senior Manager in the Administration Department. A University of Southern Indiana graduate, Cox joined the firm in 2017 as the Scheduling & Development Manager bringing 17 years of industry experience to her role.

Congratulations to all!

 

Aaron Wilzbacher, CPA, Named Vice President

We are proud to announce the promotion of Aaron Wilzbacher, CPA, to Vice President in the Tax Department for Harding, Shymanski & Company, PSC. He joined the firm in 2006 and specializes in state and local taxation as well as sales tax. He is a member of the firm’s Manufacturing and Wholesale Distribution team.

Wilzbacher graduated from the University of Southern Indiana with a Bachelor of Science degree in accounting. He is a member of the American Institute of Certified Public Accountants and the Indiana CPA Society. He currently serves as Treasurer for Big Brothers Big Sisters of the Ohio Valley Board of Directors and is a member of St. Peter and Paul’s Finance Committee. He has previously served as Treasurer for the Youth Service Bureau Board of Directors.

Michele Graham , CPA, MST, Named Vice President

We are proud to announce the promotion of Michele Graham, CPA, MST, to Vice President, Tax Department for Harding, Shymanski & Company, PSC.

Graham joined the firm in 2009. She is a member of the firm’s Health Care and Affordable Care Act teams. She works closely with businesses, nonprofit organizations, and individuals in the areas of tax planning and compliance.

Graham graduated magna cum laude from the University of Southern Indiana with a Bachelor of Science degree in accounting. She has earned a Master of Science in Taxation degree from DePaul University. Graham is a member of the American Institute of Certified Public Accountants, the Indiana CPA Society, and the Medical Group Management Association.

She currently serves as the 1st Vice President/Membership Chair for A Network of Evansville Women (ANEW) and was recently elected as their incoming president. She also serves on the Advisory Board for the Borrowed Hearts Foundation and Board of Directors for Easterseals Rehabilitation Center. Previously, Graham has served on the Board of Directors for ANEW, Warrick Public Education Foundation, Pulmonary Fibrosis Partners, Joshua Academy, Warrick County 4-H Council.

Lacy Bender, CPA, MBA, Named Vice President

We are proud to announce the promotion of Lacy Bender, CPA, MBA to Vice President in the Tax Department for Harding, Shymanski & Company PSC. She joined the firm in 2007 and is a member of the firm’s Manufacturing and Wholesale Distribution Team.

Bender graduated from the University of Evansville in 2006 with a Bachelor of Science degree in accounting and graduated from the University of Southern Indiana in 2008 with a Master’s degree in business administration. She is a member of the American Institute of Certified Public Accountants, the Indiana CPA Society, and A Network of Evansville Women. Bender currently serves on the Mater Dei Finance Committee, the Ronald McDonald House Board of Directors and Finance Committee, and the Resurrection Finance Committee.

Vac2Go Ranks #1 among Fast Growth in Louisville

Todd Tallon president and ceo of Vac2Go was honored for his company's fast growth in LouisvilleVac2Go, LLC has been ranked #1 for fast growth in Louisville Business First’s Fast 50. According to the publication, the company “reported 226% revenue gains since 2016.” Todd Tallon, President/CEO attributed the company’s fast growth to expansion which included opening their fifth location in Mobile, Alabama.

As an honoree in last year’s list as well, Tallon had this to say about his relationship with Harding, Shymanski & Company, PSC:

“…we need responsive and flexible CPA Advisory assistance. We consider HSC to be one of our most trusted partners in facilitating our continued growth.”

“We are proud to work with Todd and his team,” said John Rittichier, CPA and Vice President for Harding, Shymanski & Company, PSC. “We are excited to see their hard work being recognized and look forward to serving them as they continue to grow.”

For more on all of the companies who made this year’s list, see today’s online edition of Louisville Business First.

50 success stories: celebrating the 2019 Fast 50 (PHOTOS)