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Tag: tax


Tax Code, Regulations and Guidance

Gifts Of Equity Can Produce Unexpected Tax Pitfalls

January 11, 2022

Via: JD Supra

Tax issues, said Neil V. Carbone, partner at Farrell Fritz, P.C., in New York, include gift tax and income tax. A sale for less than fair market value involves a partial gift. If the amount of the gift exceeds certain […]


Business Law & Regulations, Finance

Ordinary Income Definition

January 6, 2022

Via: Investopedia

What Is Ordinary Income? Ordinary income is any type of income earned by an organization or an individual that is taxable at ordinary rates. It includes (but is not limited to) wages, salaries, tips, bonuses, commissions, rents, royalties, short-term capital […]


Tax Code, Regulations and Guidance

Tax Refund Definition

January 6, 2022

Via: Investopedia

What Is a Tax Refund? A tax refund is a reimbursement to a taxpayer for any excess amount paid to the federal government or a state government. While taxpayers tend to look at a refund as a bonus or a […]


Tax Code, Regulations and Guidance

Tax Haven Definition

January 5, 2022

Via: Investopedia

What Is a Tax Haven? A tax haven is a country that offers foreign businesses and individuals minimal or no tax liability for their bank deposits in a politically and economically stable environment. They have tax advantages for corporations and […]


Business Law & Regulations, Employment & Labor

Hiring Family Members: What You Need to Know

January 4, 2022

Via: Fit Small Business

Hiring family members to work in your small business, especially when it is growing quickly, may seem like a perfect solution. However, there are some legal, tax, and operational issues to consider. Additionally, even though hiring family members is generally […]


Business Law & Regulations, Finance

Yield Definition

January 4, 2022

Via: Investopedia

What Is a Yield? Yield refers to the earnings generated and realized on an investment over a particular period of time. It’s expressed as a percentage based on the invested amount, current market value, or face value of the security. […]


Tax Code, Regulations and Guidance

Gift and Estate Tax Changes

January 3, 2022

Via: National Law Review

Throughout 2021, Congress and the Executive Branch proposed tax code changes that – had they ultimately passed – would have significantly changed various estate planning techniques. Some proposals would have sidelined a number of established estate planning strategies while other […]


Tax Code, Regulations and Guidance

Exempt Income Definition

December 29, 2021

Via: Investopedia

What Is Exempt Income? Exempt income refers to certain types or amounts of income that are not subject to income tax. Some types of income are exempt from federal or state income tax, or both. The Internal Revenue Service (IRS) […]


Tax Code, Regulations and Guidance

Florida Issues Emergency Rule and FAQs Clarifying Its COVID-19 Vaccination Mandate Law

December 27, 2021

Via: National Law Review

On November 18, 2021, Florida Governor DeSantis signed House Bill 1B into law, imposing a series of requirements on employers in the Sunshine State who seek to impose COVID-19 vaccination mandates on their workforce. The statute itself left employers grappling […]


Business Law & Regulations, Workplace Safety & Health

Take 2: OSHA Vaccine or Testing Mandate Back in Effect

December 27, 2021

Via: JD Supra

After being put on hold by court orders, the Occupational Safety and Health Administration (“OSHA”) emergency temporary standard (“ETS”) mandating vaccination or weekly testing of employees of businesses with 100 or more workers is back in effect. On Friday, December […]