IRS Releases 2020 Form W-4 Employee’s Withholding Allowance Certificate
The IRS has released the 2020 Form W-4 Employee’s Withholding Allowance Certificate. The 2020 Form is to comply with the income tax withholding requirement of the Tax Cuts and Jobs Act (TCJA).
New Overtime Rules Effective January 1, 2020
The DOL recently finalized its new rules effective January 1, 2020, to determine whether an employee qualifies as exempt from overtime under the Fair Labor Standards Act (FLSA). What has changed?
New law provides a variety of tax breaks to businesses and employers
While you were celebrating the holidays, you may not have noticed that Congress passed a law with a grab bag of provisions that provide tax relief to businesses and employers. The “Further Consolidated Appropriations Act, 2020” was signed into law on December 20, 2019.
Wellness programs are subject to many federal laws
At the beginning of the year, many people make resolutions about improving their physical fitness and overall well-being. Employers may seek to give these goals a boost in the longevity department by offering an employee wellness program.
Nonprofit Parking Tax Repeal
On Friday December 20, 2019, President Trump signed a spending package which included the repeal of the nonprofit parking tax. This tax applied to employee parking benefits as well as mass transit reimbursement.
Year-end accounting recap
The Financial Accounting Standards Board (FASB) hasn’t issued any major new accounting rules in 2019. But there have been some important developments to be aware of when preparing annual financial statements under U.S. Generally Accepted Accounting Principles (GAAP).
Wayfair revisited — It’s time to review your sales tax obligations
In its 2018 decision in South Dakota v. Wayfair, the U.S. Supreme Court upheld South Dakota’s “economic nexus” statute, expanding the power of states to collect sales tax from remote sellers.
Stretch your marketing dollars further with smart strategies
If your marketing budget is limited, there may be ways to make that money go further. Smart strategies abound for small to midsize businesses. Let’s look at a few ideas for stretching your marketing dollars a bit further. Check out the big guys
IRS confirms large gifts now won’t hurt post-2025 estates
The IRS has issued final regulations that should provide comfort to taxpayers interested in making large gifts under the current gift and estate tax regime. The final regs generally adopt, with some revisions, proposed regs that the IRS released in November 2018.
“Stay interviews” can provide critical retention insights
Why are you still here? It’s a deceptively simple question, and one best asked gently and constructively of your employees.