Business & Tax Articles

On April 23, 2024, the Federal Trade Commission (FTC) released its final rule concerning non-competition agreements, which has broad and sweeping implications.

On April 23, 2024 the Department of Labor (DOL) announced a final rule that will increase the current salary threshold required to be exempt from overtime, effective July 1, 2024.

This article provides a general summary of the Corporate Transparency Act and its requirements and is not intended to, and does not, provide legal, compliance or other advice to any specific individual or entity. Please reach out to your contact at Knox McLaughlin Gornall & Sennett, P.C. for assistance regarding the application of the Corporate Transparency Act to your specific situation.

On January 10^th, the U.S. Department of Labor (DOL) released its final rule changing the criteria for how it will classify workers moving forward. This final rule will go into effect on March 11, 2024 and will have a major impact on the gig economy.

On December 19, 2023, the Internal Revenue Service announced new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices because of the pandemic.

With the release of Notice 2023-75 the IRS has announced the cost-of-living adjustments for pension plans and other related items for the 2024 tax year.

Mergers & acquisitions among insurance agencies and brokers in the
United States and Canada declined 34%, as compared to the 3^rd quarter 2022.

On July 14, 2023, the Internal Revenue Service (IRS) issued Notice 2023-54 in response to comments and questions related to changes made by the SECURE 2.0 Act.

For demonstration purposes this may be an extreme example. However, it did get your attention and hopefully, will trigger your interest to consider a Roth conversion as part of your overall estate planning.

The Mergers & Acquisitions Process Overview Series is a sequence of five articles about the purchase and sale process. It is intended to provide business owners with a broad overview of the transaction process and answer some of the questions that are frequently asked. Part 5: Ancillary Closing Documents and Post-Closing Techniques.

The Mergers & Acquisitions Process Overview Series is a sequence of five articles about the purchase and sale process. It is intended to provide business owners with a broad overview of the transaction process and answer some of the questions that are frequently asked. Part 4: The Acquisition Agreement.

The Mergers & Acquisitions Process Overview Series is a sequence of five articles about the purchase and sale process. It is intended to provide business owners with a broad overview of the transaction process and answer some of the questions that are frequently asked. Part 3: Due Diligence.

The Mergers & Acquisitions Process Overview Series is a sequence of five articles about the purchase and sale process. It is intended to provide business owners with a broad overview of the transaction process and answer some of the questions that are frequently asked. Part 2: Letter of Intent (LOI).

The Mergers & Acquisitions Process Overview Series is a sequence of five articles about the purchase and sale process. It is intended to provide business owners with a broad overview of the transaction process and answer some of the questions that are frequently asked. Part 1: general seller and buyer motivation.

There has been a proliferation of lawsuits alleging breach of fiduciary duty in 401(k) and 403(b) plans. Although the cases of note involve larger employers and the corresponding larger 401(k) or 403(b) plans, fiduciaries of plans of all sizes should heed the warnings and lessons from the cases that populate the retirement plan news on a regular basis.