On May 12, 2025 the House Ways and Means Committee released draft tax reform legislation, also known as “The One, Big, Beautiful Bill.” Important to note immediately is that this bill is just the first draft – it still needs to go through a mark-up process, as well as...
In today’s dynamic business landscape, companies are increasingly recognizing the importance of Corporate Social Responsibility (CSR) as an integral part of their identity and operations. CSR is the concept that businesses have a responsibility to do good,...
Employer sponsored defined contribution plans, such as 401(k)s and 403(b)s represent the most common retirement plan in America for employees, having first started in 1978 and eventually replacing defined benefit plans (pension plans) for most employees. Individual...
New in 2024 was the Financial Crimes Enforcement Network (FinCEN) enforcement of the Corporate Transparency Act (CTA), which starting January 1, 2024 required privately held Reporting Companies to report their Beneficial Owners and Substantial Control individuals....
At an event on December 9, 2024, New York State Governor Kathy Hochul proposed as part of her upcoming State of the State agenda, a program that would send payments of either $300 or $500 to 8.6 Million New Yorkers at an estimated cost of $3 Billion. While still a...
On December 3, 2024, a Federal judge in district court issued a nationwide injunction on the new Beneficial Ownership Information (BOI) Reporting under the Corporate Transparency Act (CTA) in the case Texas Top Cop Shop, Inc. et al., v. Garland et al. The court ruled...
The "Freelance Isn't Free Act" establishes comprehensive protections and rights for freelance workers, ensuring they are fairly compensated for their work and outlining clear procedures for handling payment disputes. Here’s an overview of the key aspects of the Act:...
On November 9, 2023 the IRS released the 2024 tax brackets, standard deduction and retirement account limits. As a result of the high inflation seen in 2023, brackets will increase by about 5.4% with similar increases seen in other limits.2024 Standard Deduction The...
The whole world has been put on pause because of the COVID pandemic, and for many business owners, the same holds true for their business. We are so bogged down in understanding changing regulations, worrying about CDC guidelines, and getting caught up in the minutia of getting through another COVID quarantine day, that our businesses and our psyche have suffered. Instead of looking at this as another day in the COVID pandemic doldrums, why not use this as a time to try to reinvigorate your business by infusing new energy and strategies.