Category Archives: Finance & Administration

Reminder: Increased Minimum Salary for “White Collar” Exemptions

As we recently reported to you, effective January 1, 2020, the minimum guaranteed salary requirement for the “white collar” exemptions from overtime under the Fair Labor Standards Act (FLSA) is…

Form 8300 Cash Reporting Customer Notification

As part of the IRS cash reporting rule, on or before the January 31st following the calendar year for which the Form 8300 was filed, dealerships must provide a written…

Paid Medical Leave Act

On December 14, 2018, the Paid Medical Leave Act (“PMLA”) was signed into law and becomes effective on March 29th of 2019. The PMLA applies to dealers who employ 50…

2018 Year End Legal Review

Year-end tax and financial planning have become relatively commonplace. However, far too few businesses give proper attention to a fiscal or calendar year-end legal review. A systematic and wide-ranging review…

New Summary of Your Rights Under the Fair Credit Reporting Act

Attached here is a Notice to Dealers sent out by Colombo & Colombo in November 2015 regarding the use of consumer credit reports for employment purposes. As of September 21,…

New Federal Law Allowing Customers to Freeze Credit File

On May 24, 2018, a new federal law was created amending the Truth in Lending Act (TILA); named the Economic Growth, Regulatory Relief, and Consumer Protection Act. Beginning September 21,…

Supreme Court Rules That Service Advisors Exempt From Overtime

April 2, 2018 – Previously, in a break from the decades-old practice of treating service advisors as exempt under the salesman exemption of the Fair Labor Standards Act (FLSA), the…

Form 8300 Cash Reporting Customer Notification

As part of the IRS cash reporting rule, on or before the January 31st following the calendar year for which the Form 8300 was filed, dealerships must provide a written…

Reminder: Increase in Michigan Minimum Wage

As a reminder, effective January 1, 2018, Michigan’s minimum wage will increase to $9.25 per hour. Employers employing two or more employees who are at least sixteen years of age…

Year-End Legal Review

Year-end tax and financial planning has become relatively commonplace. However, far too few businesses give proper attention to a fiscal or calendar year-end legal review. A systematic and wide ranging…