Businesses can still cut their 2024 taxes
President-Elect Trump will take power early next year along with a unified GOP Congress. However, it’s still unknown how the tax landscape will change in [...]
Federal court rules against DOL’s “white collar” overtime rule
A federal district court judge has struck down the Biden administration’s new rule regarding the salary threshold for determining whether certain employees are exempt from [...]
How will the 2025 inflation adjustment numbers affect your year-end tax planning?
The IRS has issued its 2025 inflation adjustment numbers for more than 60 tax provisions in Revenue Procedure 2024-40. Inflation has moderated somewhat this year over [...]
Ease the financial pain of natural disasters with tax relief
Hurricane Milton has caused catastrophic damage to many parts of Florida. Less than two weeks earlier, Hurricane Helene victimized millions of people in multiple states [...]
Federal court rejects FTC’s noncompete agreement ban
In April 2024, the Federal Trade Commission (FTC) approved a final rule prohibiting most noncompete agreements with employees. The ban was scheduled to take [...]
IRS issues final regulations on inherited IRAs
The IRS has published new regulations relevant to taxpayers subject to the “10-year rule” for required minimum distributions (RMDs) from inherited IRAs or other [...]
IRS ramps up compliance enforcement against certain businesses
The Inflation Reduction Act provided the IRS with billions of dollars of additional funding to reduce the so-called “tax gap” between what taxpayers owe and [...]
SECURE 2.0: Which provisions went into effect in 2024?
The Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act was signed into law in December 2022, bringing more than 90 changes to retirement plan [...]
Federal regulators expand overtime pay requirements, ban most noncompete agreements
The U.S. Department of Labor (DOL) has issued a new final rule regarding the salary threshold for determining whether employees are exempt from federal overtime [...]
IRS extends relief for inherited IRAs
For the third consecutive year, the IRS has published guidance that offers some relief to taxpayers covered by the “10-year rule” for required minimum distributions [...]
