VIDEO: Top 10 COVID-19 Tips for Employers: Cares Act Tax Provisions Edition
Tips are in the news lately. It seems like political strategists on both sides of the aisle have concluded that excluding tips from taxable income is good for votes. One has to wonder if this political promise will go the way...more
Types of business entities - The two most common types of legal entities adopted in Argentina are the limited liability company (“Sociedad de Responsabilidad Limitada” or “SRL”) and the corporation (“Sociedad Anónima” or...more
Taxpayers have long attempted to limit the application of the Self-Employment Contributions Act (SECA ) taxes to income that is akin to employment income and not investment, or passive income, by relying on Code §1402(a)(13)....more
By all measures, 2021 was a banner year for hiring, but 2022 and 2023 have been the opposite. According to one media source, more than 121,000 jobs in the technology sector alone — think Google LLC, Amazon.com Inc.,...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 12, 2022 – December 16, 2022...more
In the past few days, I have been working with a client to develop an alimony proposal to settle the case. The payors of alimony inevitably ask the salient question: “So how much will I be left with if I pay -x- amount as...more
As small and mid-size business owners move toward the federal tax filing deadline in this new year, they need to be aware of certain changes in the federal income tax area. A short listing of the highlights (more...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 27, 2021 – December 31, 2021... December 27, 2021: The IRS published a news release...more
Many employers are likely to find the rules for repayment of employer-share social security tax deferrals under the Coronavirus, Aid, Relief and Economic Security (CARES) Act to be confusing. Employers may also be surprised...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 22, 2021 – November 26, 2021... November 22, 2021: The IRS released a memorandum...more
Tax the Rich? The President’s plan for a tax regime that would ensure the rich pay their “fair share” of the cost of implementing his programs has come one step closer to being realized . . . maybe . . . well, sort of ....more
The year was 1983: The U.S. invaded Granada. A gallon of gas cost 96 cents. Michael Jackson’s ‘Thriller’ video premiered. That year was also the last time that Social Security recipients saw a cost-of-living increase steeper...more
Over the past fifteen months, many countries have introduced creative new approaches to address the economic realities of the COVID-19 pandemic. As employees continue to work remotely and employers reconsider whether...more
What A Ride- No one anticipated that the Administration’s proposed tax increases would fly through Congress easily – at least no one residing in a state in which the recreational use of marijuana has not been legalized....more
The Employee Retention Credit (ERC) was established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 27, 2020, to encourage businesses to keep employees on their payroll during the pandemic....more
On Wednesday, April 28th, the White House announced the American Families Plan, the “human capital” infrastructure proposal. The American Families Plan would spend $1.8 trillion, including $800 billion in tax cuts over ten...more
For many employers, the costs related to the COVID-19 vaccine just went down. On April 21, 2021, President Biden announced that employers with fewer than 500 employees – including tax exempt organizations – can claim a...more
One of the most effective ways to incentivise staff, in particular senior employees, is to offer them the opportunity to purchase stock or shares in a group company. U.S. companies often operate stock and other incentive...more
The Biden administration is signaling significant policy shifts. Business owners and C-Suite executives are encouraged to join us for a series of complimentary webcasts discussing these likely changes and how they will impact...more
On December 27, 2020, the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTR Act) amended the employee retention credit (ERC) provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Among...more
Unlike the original coronavirus relief bill (the CARES Act), which included numerous changes and modifications to the Tax Code, the latest stimulus bill includes relatively few tax-related provisions. Nonetheless, a couple of...more
On December 27, 2020, Congress passed the 5,593 page Consolidated Appropriations Act. The “Act” extends and clarifies several COVID-19 tax-related measures passed as part of the CARES Act and adds several new tax provisions...more
On December 27, 2020, President Trump signed into law the $900 billion stimulus package passed by Congress on December 21. This package contained some much needed tax guidance and support for many employers across the...more