Business & Tax Articles

On August 23, 2024, the U.S. Court of Appeals for the Fifth Circuit vacated the U.S. Department of Labor’s “80/20” rule, which involves tipped wages covered by the Fair Labor Standards Act.

On Tuesday, August 20, 2024, a federal court issued a nationwide injunction against the Federal Trade Commission, precluding it from enforcing its April 23, 2024 final rule purporting to ban non-compete agreements against most employees in the United States.

On July 17, 2024, Pennsylvania Governor Josh Shapiro signed into law the Fair Contracting for Health Care Practitioners Act, Act 74-2024 (Act), which introduces significant changes to the contractual and employment conditions for certain health care practitioners in the Commonwealth of Pennsylvania. The Act becomes effective on January 1, 2025.

Mergers and acquisitions among insurance agencies and brokers in the United States and Canada totaled 300 in the first half of 2024.

Texas court puts FTC's noncompete ban on hold as of July 3, 2024.

Frequently asked questions regarding employee benefits.

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.