Posted by Cory Van Deusen V on May 13, 2021
The New York state FY 2022 budget bill signed by Governor Andrew Cuomo on April 19 includes a provision that “decouples” certain state income tax benefits for qualified opportunity zone (QOZ) funds from those provided under federal tax law. The change is effective January 1, 2021.
Posted by Mark Stack on May 13, 2021
On April 19, 2021, Florida’s governor signed S.B. 50 into law, making Florida one of the last states to adopt economic nexus and marketplace facilitator rules for sales tax purposes since the landmark U.S. Supreme Court decision in South Dakota v. Wayfair.
Posted by Kelsey Weigel on May 13, 2021
Employee or independent contractor? That’s the question businesses ask when they bring on certain workers. Here are the basic rules to help keep you out of tax trouble.
Posted by Michē Needham on May 04, 2021
Profit fade — when the cost of performing a job equals or exceeds the project's revenue — can be fatal to a construction business if it happens repeatedly. Rising materials costs, inaccurate estimates, unbillable changes, and other circumstances can lead to profit fade.
Posted by Kathleen Strobele on May 04, 2021
The new American Rescue Plan Act (ARPA) requires employers to offer a 100% subsidy to qualified former employees for COBRA health care coverage. This is good news for workers because COBRA coverage can be expensive.
Posted by Benjamin Schuver on May 03, 2021
Data stored on social media platforms may be fair game in pre-trial discovery — even if the user limits access to personal posts. Many courts have decided that private isn't necessarily the same as not public, and they're granting discovery requests to obtain relevant social media evidence in civil cases.
Posted by Mark Stack on April 26, 2021
As part of New York state’s (NYS) budget bill passed by the Assembly on April 7, a pass-through entity (PTE) tax election has been provided for partnerships, limited liability companies treated as partnerships for federal income tax purposes, and New York S corporations.
Posted by Kerry Roets on April 21, 2021
Do you have former employees currently on your COBRA rolls? Or employees that have been laid off within the last 18 months who haven't enrolled in COBRA but still could? Your company might need to pay for those COBRA benefits upfront for up to six months before recouping that expense via tax credits.
Posted by Kathleen Strobele on April 13, 2021
Employees who choose to participate in employer-provided flexible spending accounts (FSAs) can realize several tax benefits. Recent legislation provides participants with an even greater incentive to contribute to these accounts.