Salary Increase for Exempt Employees – Effective May 22, 2024
Fluence Blog
by fluence
1M ago
The US Department of Labor (DOL) has amended the Restoring and Extending Overtime Protections rule. The final amendment increases the salary threshold required under the Fair Labor Standards Act. This is for all bona fide executive, administrative, and professional exemptions (white-collar exemptions). The changes are as follows: July 1, 2024: Salary threshold increases to $844 per week ($43,888 per year). January 1, 2025: Salary threshold increases to $1,128 per week ($58,656 per year). On July 1, 2027, and every three years thereafter, the salary threshold for the white-collar exemptions wi ..read more
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Salary Increase for Exempt Employees – Effective July 1, 2024
Fluence Blog
by fluence
1M ago
The US Department of Labor (DOL) has amended the Restoring and Extending Overtime Protections rule. The final amendment increases the salary threshold required under the Fair Labor Standards Act. This is for all bona fide executive, administrative, and professional exemptions (white-collar exemptions). The changes are as follows: July 1, 2024: Salary threshold increases to $844 per week ($43,888 per year). January 1, 2024: Salary threshold increases to $1,128 per week ($58,656 per year). On July 1, 2027, and every three years thereafter, the salary threshold for the white-collar exemptions wi ..read more
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AMERICAN DENTAL ASSOCIATION ALERT – CYBERSECURITY THREAT
Fluence Blog
by fluence
1M ago
We wanted to make sure our clients received the recent ADA warning of a current cybersecurity threat to dental offices released May 6, 2024, as follows: Current Threat Information from the FBI: On Tuesday, May 6, 2024, the FBI informed the ADA and the American Association of Oral and Maxillofacial Surgeons (AAOMS) of a credible cybersecurity threat to the practices of oral and maxillofacial surgeons. The FBI said that as of that date there were no known cyberattack victims, but the agency is working proactively to raise awareness to help prevent victimization. The FBI suspects the group behind ..read more
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From Beach Parties to Tax Parties: A Brief History of Spring Break and Taxes
Fluence Blog
by fluence
3M ago
Spring break is synonymous with fun in the sun, but its history is as diverse as the destinations revelers flock to each year. Surprisingly, the origins of this beloved vacation period have a curious intersection with taxes. The concept of spring break can be traced back to ancient civilizations, where societies celebrated the arrival of spring with festivals and feasts. Fast forward to the 1930s, when a swim coach in Florida organized the first official spring break swim meet, drawing college students to the state’s sunny shores. In the 1960s, spring break gained popularity thanks to the icon ..read more
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Is Your Practice Ready for A Medical Emergency?
Fluence Blog
by fluence
4M ago
We recently had an opportunity to join the Oregon Academy of Pediatric Dentistry for a Medical Emergencies in the Dental Office presentation that was put on by Dr. Steven Beadnell.  The course was extremely informative and Dr. Beadnell discussed how to diagnosis, prevent, manage, and prepare for common Medical Emergencies that could occur in a dental office. We were surprised to learn that that for most Medical Emergencies, Emergency Medical Services will not be able to respond immediately and in most cases, it will take over 10 minutes.  We learned the catch phrase “10 minutes SAVES ..read more
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Do Not Be Misled About Annual Reports
Fluence Blog
by fluence
4M ago
These false annual reports notices are being sent out again. Workplace Compliance Services (W.C.S.) has started sending 2024 Annual Reports to Oregon companies.  This renewal is not from the State of Oregon and is not required.  W.C.S. is a private, for-profit, out-of-state company. If you receive this notice, please discard.  Below is the information from the Secretary of State regarding these notices. Secretary of State Corporation Division 255 Capitol St. NE, Suite 151 Salem, OR 97310 sos.oregon.gov/Business  Contact: Corporation.Division@oregon.gov | 503-986-2 ..read more
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Read this if you accept cash payments and present large cases in your dental practice
Fluence Blog
by fluence
5M ago
Very few doctors are aware of one of the more drastic federal laws connected to receiving cash payments.  If your practice receives a cash payment of $10,000 or more from a patient, you have 15 days to file a form 8300 to report the transaction to the IRS.  The IRS pays special attention to cash payments larger than $10,000 to guard against illegal activity such as money laundering, drug trafficking and tax evasion.  As such, they put severe penalties for not reporting these types of transactions.  An unintentional failure to properly file a form 8300 to the IRS can result ..read more
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Paid Leave Oregon
Fluence Blog
by fluence
5M ago
Paid Leave Oregon benefits started September 3, 2023. Paid Leave Oregon is administered by the Oregon Employment Department. Employees apply online at Frances Online Landing Page (oregon.gov). The Oregon Employment Department will approve or deny the leave and provide that information to employees and employers. As the employer, if an employee comes to you stating they need to take Paid Leave you need to document that they notified you and direct them to the website. The employee is responsible for submitting for leave. Paid Leave Oregon is for all employees in Oregon that have earned at least ..read more
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Corporate Transparency Act – How does this affect you?
Fluence Blog
by fluence
6M ago
The Corporate Transparency Act is a new law taking effect on January 1, 2024. It will require companies registering as a business in a U.S. state, territory, or Indian tribe to file information regarding their beneficial owners and corporate applicants in a database maintained by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) unless the company meets one of the 23 exemptions. This has been created to increase transparency in business activities, prevent money laundering, and improve the ability of FinCEN and other agencies to protect U.S. national security ..read more
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Two Simple Ways To Deter Fraud And Embezzlement That Take Three Minutes To Check
Fluence Blog
by fluence
8M ago
Here are 2 simple ways to reduce the likelihood of fraud and embezzlement in your practice.  In total, these should take 3 minutes out of your day, but can help catch deceitful activity. Gross Accuracy Check – Simply compare the total collections for the prior 6 months as listed in your practice management software (Dentrix, Eaglesoft, etc.) to the monthly deposit totals as shown on your checking account statements.  These two totals should be roughly equal.  If they aren’t and total deposits shown on the bank statements are smaller, it could be an indication that funds were pos ..read more
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