October highlights from The MWE Advisor: Year-end tax planning ideas for small businesses; New 2020 overtime pay rules finalized.
Year-End Tax Planning Moves for Small Businesses
Thanks to political gridlock, federal tax law hasn’t changed much since the Tax Cuts and Jobs Act was enacted. Most of the provisions affecting businesses went into effect last year. So, the year-end tax planning strategies that worked for 2018 may still be valid for the current tax year. But your specific tax situation might be different. Here are some possible moves to help business owners reduce their 2019 tax bill. Read More
New Overtime Pay Rules Finalized for 2020
Starting on January 1, 2020, new overtime eligibility rules will go into effect. As a result, the U.S. Department of Labor estimates that the changes will make 1.3 million more Americans eligible for overtime pay. Here’s what employers should know, including an updated overtime limit for qualifying “white-collar” employees and a new threshold for “highly compensated employees.” Read More