No tax on large gifts when exemption sunsets
Taxpayers making large gifts no longer have to worry about big taxes coming back to bite them years from now. The IRS finalized regulations confirming that gifts made under the increased lifetime exemption under the Tax Cuts and Jobs Act of 2017 will not be subject to tax when the exemption returns to the rates […]
Final rules issued for ‘opportunity zones’
The Treasury Department recently issued final regulations regarding investments in so-called opportunity zones. The Qualified Opportunity Zone program, which offers tax incentives for investing in economically blighted communities, was created under the 2017 Tax Cuts and Jobs Act. Investment vehicles known as Opportunity Zone Funds allow investors to defer capital gains for up to 10 […]
DOL makes it easier for small businesses to offer 401(k) plans
A new final rule from the Labor Department makes it easier for small businesses to join together to offer their workers 401(k) plans. The rule goes into effect on Sept. 30. As a result of the new rule, smaller companies can now leverage the bigger scale of a combined group of businesses to negotiate lower […]
When you need a collection agency
It’s a real drain on a business when you can’t get clients to pay. It’s ideal when you can take matters into your own hands and see results, but when you’ve tried everything else, sometimes you need to hire a collection agency. A collection agency is helpful if you haven’t been able to successfully contact […]
Supreme Court ruling likely to restrict public access to business records
The U.S. Supreme Court has issued a ruling that is likely to make it harder for the public to access confidential business records. The court ruled on a longtime exemption under the federal Freedom of Information Act (FOIA), known as Exemption 4, which allows the government to withhold “trade secrets and commercial or financial information […]
Preventing suits over website accessibility
Suits claiming that business websites and/or mobile apps aren’t fully accessible to people with disabilities are increasing rapidly. In 2019, a quarter of such suits were brought against companies that had already been sued under the same cause of action. The suits were brought under the federal Americans with Disabilities Act. The key to protecting […]
Supreme Court: Businesses can register scandalous trademarks
The Lanham Act, a federal law that prohibits scandalous and immoral trademarks is unconstitutional, according to a ruling by the U.S. Supreme Court. Registering a trademark has its benefits. Someone who owns an registered trademark can use it in commerce and enforce it. Registering a trademark provides “constructive notice of the registrant’s claim of ownership,” […]
Ease the Pain of Repaying Student Loans
Student loan debt is a hot topic and for good reason. Managing the burden that comes during repayment is very difficult. Fortunately, there are ways to get some relief while taking advantage of timely tax breaks at the same time. Here are four ways to help lessen the strain of repaying your student loans. Deduct […]
How to Succeed as an Independent Contractor
Are you one of the now 33% of Americans who work as either an independent contractor or freelancer? If you answered yes, you are now a participant in the gig economy, a modern term for an economy characterized by workers who earn money through short-term contracts or freelance work. Succeeding as an independent contractor can […]
Should You Buy or Rent a Home?
The pros and cons of renting versus buying For many folks, the lyrics of a 1960s rock song summarize the American dream: “Our house is a very, very, very fine house.” According to U.S. Census figures, about two-thirds of American families are homeowners. But buying a house or condo may not be the best choice […]
