Going forward, you may need to change the way you pay some people, thanks to worker classification changes in the Golden State. You’ll recall that California’s AB 5, which took effect on Jan. 1, 2020, codified the three-part ABC test…
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Update: IRS finalized and published these business expense regulations in the Federal Register, effective Oct. 9, 2020. It’s about time! There’s finally more clarity to help your company correctly deduct certain business expenses on your tax returns. IRS recently posted…
Here’s new insight for your finance department on how to compliantly reimburse delivery drivers for their mileage expenses. As you know, per the Fair Labor Standards Act (FLSA), companies must pay nonexempt employees at least minimum wage for all the…
If employees take issue with their compensation, we have encouraging news. A new court ruling on bonuses shows the legal burden to prove any missteps may be on employees. That's the upshot of a recent federal appeals court ruling. This…
Right now, health and safety are major concerns in the business travel sphere, making contactless payments an appealing option for companies. In fact, contactless payments (e.g., mobile pay) could see a major surge due to the coronavirus pandemic. And they…
You and your finance department have heard the hype about blockchain technology. Maybe it’s piqued your interest and you’ve spent time looking into it. Perhaps you’ve even started implementing it in your company’s finance operations, purchasing workflow or other key…
Attention all businesses impacted by Hurricane Laura: IRS has some temporary tax relief for you. And it lasts for the rest of 2020. Specifically, all tax filing and payment deadlines that occurred beginning Aug. 22 get pushed back to Dec.…
Finance is likely all too familiar with business email compromise. But now, a variation of those scams – referred to as vendor email compromise (VEC) – is growing and putting your company money at risk. So says Crane Hassold, the…
There’s new insight for your finance department on IRS’s forthcoming 1099 platform. As you know, the Taxpayer First Act calls for the development of a new online platform that will help your staff prepare, file and maintain accurate records of…
The feds have issued new guidance on COVID-19 screening for workers as you try to return employees safely to the office. And it's good news for employers. Health insurers must cover return-to-workplace testing for the duration of the pandemic, according…
Heads up! IRS recently published proposed regulations with guidance on the deduction of qualified transportation fringe expenses and commuting expenses. As you know, due to the Tax Cuts and Jobs Act, companies are no longer allowed to deduct for qualified…
Your finance team always has to keep an eye out for fraud and tax scams – especially those impersonating IRS and other trusted authorities. Fortunately, the Service recently released its annual list of “Dirty Dozen” tax scams to help educate…
