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Tax Planning Wage and Hour Income Taxes

McGlinchey Stafford

Tax Deductions on Tips and Overtime Under Trump Tax Plan

McGlinchey Stafford on

On July 4, 2024, President Trump signed the “Big Beautiful Bill,” which contains two provisions that provide federal income tax deductions on both tips and overtime compensation beginning January 1, 2025, through December 31,...more

Ballard Spahr LLP

President Trump’s Budget Extends His 2017 Individual Tax Provisions

Ballard Spahr LLP on

President Trump signed into law what is commonly referred to as the One Big Beautiful Bill Act (OBBBA), extending provisions from the Tax Cuts and Jobs Act of 2017 otherwise set to expire at the end of this year. The new...more

Offit Kurman

H.R.1 Ends Taxes on Tips & Overtime: Employer Guide

Offit Kurman on

On July 4, 2025, President Donald J. Trump signed H.R.1—the One Big Beautiful Bill Act—into law following its narrow passage in the House of Representatives just days earlier. Touted as the Trump administration’s marquee...more

Burr & Forman

Are Overtime Wages and Tips Exempt From Income Tax? What Employers Need to Know to Prepare

Burr & Forman on

Join Carlton Hilson and Amy Jordan Wilkes as they discuss the recent proposals that aim to eliminate federal taxes on overtime pay and tips and what this means for employers....more

Jackson Lewis P.C.

Georgia Bill Introduced to Not Tax Overtime Compensation: 4 Employer Considerations

Jackson Lewis P.C. on

A bill introduced in the Georgia state legislature, if passed, would exclude overtime compensation from Georgia state income taxes starting in 2026. House Bill 375 (H.B. 375), introduced on Feb. 11, 2025, would exclude from...more

Seyfarth Shaw LLP

Want to Put More Away in Your 401(k)? Qualified Plan Limits Generally Increase in 2024

Seyfarth Shaw LLP on

Seyfarth Synopsis: The IRS just announced the 2024 annual limits that will apply to tax-qualified retirement plans. For a third year in a row, the IRS increased the annual limits, allowing participants to save even more in...more

Littler

New Jersey Quietly Rolls Back Temporary Suspension of Employer Withholding Rules for Teleworking Employees

Littler on

Effective October 1, 2021, the New Jersey Division of Taxation (the “NJDT”) ended the temporary relief period with regard to employers’ obligation to withhold income taxes for teleworking employees who work in New Jersey.1 ...more

Williams Mullen

“Sure, You Can Work Remote”...These Words May Have a Huge Cost...

Williams Mullen on

COVID has not only seen a migration of employees to remote work but has created a new business model that is here to stay. In the midst of COVID, employers were eager to allow their employees to work from home and maintain a...more

Freeman Law

Back Off, IRS!—Accounts Holding Advance Child Tax Credit Payments Immune from Levy?

Freeman Law on

By now, many eligible taxpayers may have found a deposit appear in their bank account during July. This was likely in addition to one or more correspondence letters from the Internal Revenue Service and/or the White House...more

McDermott Will & Schulte

Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - Health Policy

In this session, health law policy authorities discussed changes likely in 2021 in a Biden Administration and how these changes will impact business objectives and strategies for health industry stakeholders...more

Farrell Fritz, P.C.

New York Business, Nonresident Telecommuters And The Taxation Of Wages Earned Remotely

Farrell Fritz, P.C. on

Drums. Do you hear them? Along the western shore of the Hudson River. It seems that the unrest which began in New England earlier this year is spreading into the Mid-Atlantic States. The owner of a New York business that...more

McDermott Will & Schulte

[Webinar] Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - November 5th, 12:00 pm - 2:15 pm EST

McDermott Will & Schulte on

Are you prepared for the critical impacts of the US election outcome to you and your business in 2021 and beyond? Join McDermott’s lawyers and our policy and lobbying team for perspective on the effects of administration...more

Mintz - Employment Viewpoints

COVID-19 Telecommuting Tax and Leave Issues for Employers

Months into the COVID-19 pandemic, many employer telecommuting arrangements remain in place, with several large corporations opting to extend these arrangements well into 2021. The benefits of such arrangements have been...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Serbia’s New So-called 'Independence Test'

The latest amendments to the Law on Personal Income Tax in December 2019 introduced an obligation to apply and implement the so-called “independence test” for entrepreneurs....more

Burr & Forman

Key Tax Provisions of the CARES Act

Burr & Forman on

The COVID-19 or Coronavirus has disrupted demand in many industries and is wreaking havoc on budgets and cash flow projections. On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act or Act),...more

Burr & Forman

The New Section 199a 20% Profit Deduction For Pass-Thru Business Owners: Employee Leasing May Help

Burr & Forman on

Under the 2017 Tax Cuts and Jobs Act, Congress enacted a new Section 199A 20% profit deduction for owners of pass-through businesses, and which include Subchapter S corporations, LLCs, sole proprietorships, and even certain...more

Foodman CPAs & Advisors

What is your Work Status? Employee or Independent Contractor?

Foodman CPAs & Advisors on

Worker classification or work status has an effect on how a Taxpayer will pay federal income taxes, social security and Medicare taxes, and how a Taxpayer files a tax return. ...more

Verrill

Tax Alert: Understanding the New Pass-Through Business Deduction Rules Under Code Section 199A

Verrill on

Due to the significant changes to the Internal Revenue Code (“Code”) made by the Tax Cuts and Jobs Act (“Tax Act”) at the end of last year, the Department of the Treasury has been very busy issuing guidance and proposed...more

Burr & Forman

New IRS Proposed 199A Regulations Provide Guidance on 20% Profit Pass-Through Deduction

Burr & Forman on

On August 8th, the IRS released its much-awaited Proposed Regulations on the new Section 199A 20% profit deduction for pass-through businesses. The new deduction applies to essentially all types of businesses other than C...more

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