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Tag: finance


Business Law & Regulations, Employment & Labor

Vermont Becomes Latest State to Enact Pay Transparency Law

June 18, 2024

Via: JD Supra

Vermont has joined the growing list of jurisdictions with pay transparency laws. On June 4, 2024, Vermont Governor Phil Scott signed “An Act Relating to Disclosure of Compensation in Job Advertisements” (the “Act”). Pursuant to the Act, which will take effect […]


Business Law & Regulations, Finance

Passing Assets and Accounts to Your Heirs Is About To Become Much More Difficult

June 6, 2024

Via: JD Supra

If you are in the process of long-term estate planning or updating an existing estate plan, the process for passing assets and accounts to your heirs is about to become much more difficult and expensive. Presently, each individual can pass […]


Business Law & Regulations, Employment & Labor

New Jersey Supreme Court Clarifies that Amendments to Wage Payment Law and Wage and Hour Law Are Prospective

May 30, 2024

Via: LexBlog

In Maia v. IEW Construction Group, the New Jersey Supreme Court decided a critical issue in employer’s favor regarding the “look-back” periods and availability of liquidated damages under New Jersey’s Wage and Hour Law (WHL) and Wage Payment Law (WPL). […]


Business Law & Regulations, Finance

What is Imputed Income? A Quick Guide for Small Businesses

April 30, 2024

Via: Fit Small Business

Imputed income is the value of non-cash compensation that must be included as part of an employee’s taxable income. It’s crucial for small business owners to understand what imputed income is, as it directly affects payroll and tax reporting. By […]


Business Law & Regulations, Finance

How to Invest in Commercial Real Estate: A Beginner’s Guide

April 25, 2024

Via: Fit Small Business

Knowing how to invest in commercial real estate offers a lucrative opportunity for those looking to expand their investment portfolio beyond traditional stocks and bonds or residential real estate. Successful commercial real estate investing for beginners requires a deep understanding […]


Tax Code, Regulations and Guidance

2024 Federal Budget: Selected Tax Measures

April 22, 2024

Via: JD Supra

On April 16, 2024 (Budget Day), the Government of Canada released its 2024 federal budget (Budget 2024). While the biggest headline item in Budget 2024 is a proposal to increase the capital gains inclusion rate from one-half to two-thirds, Budget […]


Business Law & Regulations, Finance

Federal Court Blocks Illinois Equal Pay Amendment: What Employers and Staffing Agencies Need to Know

March 28, 2024

Via: JD Supra

A federal court in Chicago recently granted a preliminary injunction enjoining the Illinois Department of Labor from enforcing one of several amendments made in August 2023 to the Illinois Day Labor and Temporary Labor Services Act (the “Act”). The amendments […]


Business Law & Regulations, Finance

Council of EU publishes updated text of proposed Regulation on instant credit transfers in euro

March 15, 2024

Via: LexBlog

On 15 March 2024, the Council of the EU published the updated text of the proposed Regulation amending the Single Euro Payments Area Regulation, the Cross-Border Payments Regulation, the Settlement Finality Directive and the Second Payment Services Directive as regards […]


Business Law & Regulations, Finance

CBA “checks the math” on recent CFPB credit card report finding large bank issuers charge higher interest rates than smaller issuers

March 4, 2024

Via: LexBlog

After targeting credit card late fees in its proposed rule, the CFPB has set its sights on further attacking credit card pricing through interest rates. The CFPB published a blog late last month stating that credit card interest rate margins […]


Financing your Business

Small Business Guide to Storing Credit Card Information

March 1, 2024

Via: Fit Small Business

Some small businesses, such as those that offer subscriptions, need to store customer credit card details. However, card networks take the security of credit card data seriously and employ strict merchant guidelines for storing credit card information. We provide an […]


Business Law & Regulations, Workplace Safety & Health

Workplace Reform Rolls on… Again

February 26, 2024

Via: JD Supra

The Federal Labor Government (Government) has completed its third tranche of workplace relations reform with the recent passage through Federal Parliament of its Fair Work Legislation Amendment (Closing Loopholes No. 2) Bill 2023. Along with its ‘Secure Jobs, Better Pay’ […]


Tax Code, Regulations and Guidance

US Treasury Says IRS is Focused on Tax Evasion Targeting

February 26, 2024

Via: JD Supra

The US Department of the Treasury has recently reinforced the progress on enforcement, specifically how the IRS is focused on tax evasion targeting and the targeting of high-income individuals and entities. The IRS has deployed Artificial Intelligence (AI) and state-of-the-art […]


Business Law & Regulations, Finance

CFPB seeks approval for new auto finance data collection

February 19, 2024

Via: LexBlog

The CFPB recently published a notice in the Federal Register indicating that it is seeking approval from the Office of Management and Budget (OMB) for the collection of additional auto finance data pursuant to its authority under the Dodd-Frank Act […]


Tax Code, Regulations and Guidance

Tax vote this week? Uncertain. Filing season open? Definitely

January 29, 2024

Via: POLITICO

The House returns to Washington today, after a week away — and, no, it’s not clear whether the chamber will vote on the bipartisan tax bill in the coming days. The official House schedule still has the measure that would […]


Tax Code, Regulations and Guidance

Bonus Tax Rate: What It Is, How It’s Calculated & Tips to Lower It

January 25, 2024

Via: Fit Small Business

Similar to salaries, employee bonuses are subject to taxes—specifically, a bonus tax rate, which is typically a flat rate of 22%. This can change depending on the amount of the bonus and the method used to calculate the applicable bonus […]


Tax Code, Regulations and Guidance

Tax bill passes committee, so now what?

January 22, 2024

Via: POLITICO

Supporters of the bipartisan tax bill needed a statement vote out of the House Ways and Means Committee on Friday to help their cause — and they sure got one. Only three of the committee’s 43 members voted against the […]


Business Law & Regulations, Finance

CFPB proposed rule would make certain overdraft program’s credit subject to Regulation Z disclosure requirements and could cap overdraft fees at $3

January 19, 2024

Via: LexBlog

In furtherance of the Biden Administration’s “junk fee” agenda, on January 17, 2024, the Consumer Financial Protection Bureau issued its proposed rule to amend Regulations E and Z to regulate overdraft services provided by “very large financial institutions” (an insured […]


Tax Code, Regulations and Guidance

New guidance answers questions for retirement plan sponsors

January 16, 2024

Via: JD Supra

In late December 2023, the Internal Revenue Service provided additional guidance in the form of questions and answers (“Q&As”) with respect to certain key qualified retirement plan provisions of the Consolidated Appropriations Act, 2023, known as the SECURE 2.0 Act […]


Tax Code, Regulations and Guidance

A new year to talk about a tax bill

January 2, 2024

Via: POLITICO

Let’s be honest — negotiations over a tax bill are essentially in the same spot they were when lawmakers hightailed it out of Washington last month. People working on a potential deal, both in and out of government, are optimistic […]


Tax Code, Regulations and Guidance

The Nonprofit Sector Need Not Apply: The Corporate Transparency Act and its Tax-Exempt Organization Exemptions

December 27, 2023

Via: National Law Review

ArentFox Schiff’s clients report being inundated with notices from registered agents and other service providers to comply with the Corporate Transparency Act (CTA), a new law that will require many existing and newly formed entities to register with and disclose […]