Employment Law Questions? Ask an Employment Lawyer.
Are you being paid by the hour or are you being paid salary?
I see -
am I legally obligated to pay myself overtime even if I don't want it? - Yes, otherwise the employer is breaking the law and subject to a DOL audit they will be penalized in pay and penalties.
You could go on salary and that would remedy the problem.
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Yes, so if you are paid hourly, you must get overtime for hours in excess of 40 per workweek. You cannot voluntarily deny those. Only via a settlement approved by a judge or department of labor could you make any agreement on matters of the Fair Labor Standards Act. Going salary would fix this problem as you are an executive under the law. You'd have to be paid currently at least $455 per workweek. The recent DOL amendment to require $48,000 a year salary was enjoined by a federal court and probably will not be sought by the Trump administration...so it's not as if they'd have to pay you really any more than you are already earning as an hourly employee.