Difference Between Debt & Liabilities by Cam Merritt; Updated September 26, 2017 In the shorthand language of business, the terms debt and liabilities get thrown around as if they're the same thing.
Posted on April 07, 2016. As you have probably heard, the Department of Labor is planning to dramatically raise the minimum salary requirement for employees to qualify as exempt under the âWhite Collar Exemptions.â As we learned on May 18, 2016, the new minimum is $47,476, which could impact nearly five million employees.
Specifically, the U.S. Department of Labor proposed this week that the salary threshold needed to maintain such exempt classifications should increase from $23,660 to $50,440 per year (or $970 per workweek). This amounts to more than a doubling of the current salary requirement.he White House recently announced that the long-awaited proposed amendments to the Fair Labor Standards Act regulations concerning the so-called âwhite collarâ exemptions will include a substantial increase to the salary required to maintain exempt status for most executive, administrative, and professional employees.