The Department of Labor’s (DOL) new overtime rules that more than doubles the salary threshold to determine who is eligible for overtime pay is being challenged in federal court by 21 states. The new regulations are scheduled to take effect nationwide in December 1, 2016. According to the Wall Street Journal, the Attorneys General in […]
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Why a nonqualified deferred comp plan may be right for youWhat if a nonqualified deferred compensation plan (NQDCP) enabled your senior managers to replace a higher proportion of their current income when they retire? While NQDCPs often are perceived as only for top executives, they may also be right for your upper-level staff. Some considerationsThe
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Watch out for these common M&A deal obstaclesEverything may be going according to plan in an M&A negotiation, until something suddenly puts the entire deal in doubt. Perhaps the buyer gets cold feet after conducting a round of due diligence or the selling owner feels insulted by what he considers a lowball offer. Whatever the
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October 17 — Personal returns that received an automatic six-month extension must be filed today and any tax, interest, and penalties due must be paid. Electing large partnerships that received an additional six-month extension must file their Forms 1065-B today. If the monthly deposit rule applies, employers must deposit the tax for payments in September
The Internal Revenue Service (IRS) estimates tax refund fraud will near $21 billion in 2016. To counteract rising threat, the IRS has put on a full court press to stop identity theft, using a combination of prevention, detection and victim assistance. The “Taxes. Security. Together.” awareness campaign is an effort to better inform taxpayers about
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by Bobby Garrett, IT DirectorGray, Gray & Gray, LLP A growing issue beleaguering the technology world is “phishing,” a tactic used by cybercriminals as they attempt to obtain financial data and other confidential information from unsuspecting individuals. Phishing uses “spoofed” emails, fake websites and deceptive phone calls to lure people to voluntarily hand over sensitive
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First-time business sellers often must negotiate an M&A deal with far more experienced buyers. If your buyer already has several acquisitions under its belt, you could be at a competitive disadvantage. Experienced M&A advisors, who can fight on your behalf for the best price and deal terms, are essential to overcoming this strategic disadvantage. Survey
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Thousands of employers across the country have received (or soon will receive) a letter from U.S. Department of Health and Human Services (HHS) notifying them that one or more of their employees has applied for healthcare insurance through a federal Health Insurance Marketplace, and that the employee has been deemed eligible to receive a healthcare
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Business sellers who aren’t ready for retirement may wish to retain a management role in their companies after they’ve been sold. Such arrangements can offer buyers advantages, including a smoother integration process and higher customer and employee retention. For these reasons, a buyer may even require its seller to remain with the company for a
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By Derek B. Rawls, CPA, MSTGray, Gray & Gray, LLP American companies exporting goods – and certain services – may be able to enjoy significant federal income tax savings through a little-known instrument known as an interest charge domestic international sales corporation (IC-DISC). You do not need to be a huge exporter to take advantage
What is an IC-DISC and How Could It Save You Tax Dollars? Read More »