In the News

Copyright 2020
Unfortunately, many businesses have already been forced to close their doors due to the economic fallout from COVID-19, and more will surely follow. Closing a business has important federal income tax implications that owners should understand. Here's what owners of sole proprietorships and single-member (one-owner) limited liability companies (SMLLCs) need to know.
Copyright2020
There's no doubt about it: Business has gone international. New electronic and logistical technologies have narrowed distance and time, and trade agreements have opened markets. And manufacturers are in a good position to venture into the business of exporting.
Copyright2020
The tax law permits you to deduct home office expenses if you "regularly and exclusively" use an area of your home as either: •Your principal place of business. •A place to meet or deal with clients, customers or patients in the normal course of business.
Copyright2020
Over time, doctors develop their own unique style of practicing medicine. The same is true of medical groups. They develop a style that involves creating a work culture and passing information about it on to staff members. A medical practice's approach to issues such as sick leave and overtime pay are defined and revised over time until they become ingrained in the office's culture.
Copyright2020
It's an age of personal responsibility. Even if your nonprofit's board members do everything in their power to make good governing decisions, legal liability can potentially lead to their financial ruin. Here's how to protect your board.
Copyright2020
Get the most from Social Security. Younger retirees face a harsh penalty for working part-time. For every $2 earned over $18,960 in 2020 (up from $18,240 in 2020), you lose $1 in Social Security benefits. In the year you reach full retirement age, a higher earnings threshold applies. Your benefits will be reduced by $1 for every $3 of earnings only when earnings exceed $50,520 in 2021 if you reach full retirement age (up from $48,600 for 2020).
Copyright2020
Many people are struggling to make ends meet during the COVID-19 pandemic. Fortunately, some individuals qualify for federal-income-tax-free disaster relief and disaster mitigation payments paid by some employers under Internal Revenue Code Section 139. Here are some FAQs and answers about how the rules work.
Copyright2020
Although the Equal Opportunity Employment Commission (EEOC) is intended to be nonpartisan, run by a five-member Commission, a president can appoint a new chairman and vice-chairman when their terms expire. Currently both of those positions are held by appointees of President Donald Trump. The current chairman's term expires in July 2022.
Copyright2020
Peak production season can be a nightmare. It's the time you need all employees to show up consistently and pull their weight. But reality is often far removed from the ideal.
Copyright2020
The death of an employee who fell two stories to his death at a Massachusetts construction site might have been prevented if his employer had supplied the required fall protection, according to the Occupational Safety and Health Administration (OSHA).

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