Given the High Gas Prices, Minimum Wage is Not Even a Working Wage
The average commute in the United States is about 27 minutes. This is about one gallon of gas to and one gallon of gas from
What’s In the 2022 Inflation Reduction Act?
On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022. This bill, which was initially written as a successor to
Tax planning interest rates climb interest expense deductions decrease
(authored by RSM US LLP) Tax planning strategies can help businesses experiencing higher interest expense due to inflation, increased interest rates and lower tax deductions.
An update on the tax policy landscape against inflation backdrop
(authored by RSM US LLP) The tax policy landscape in Washington remains unsettled as we approach the summer months, while inflation remains the dominant economic issue. Within the context, we look at what’s currently on the legislative agenda for Congress.
Consider revisiting the Texas franchise tax during inflation
(authored by RSM US LLP) With the highest inflation rate in decades, and without a foreseeable end, businesses should re-examine the franchise tax calculation.
IRS Offers New Extension Date to Victims of Hurricane Ida
The IRS has extended the deadline to file various individual and business tax returns and to make tax payments for victims of Hurricane Ida. The
Proposed amendments to section 1202: Effect on federal tax liability
(authored by RSM US LLP) Under the BBB Act, only the 50% gain exclusion would be available to taxpayers that sell QSBS. How would this affect their tax liability?
Approaching deadline for COVID-19-related cafeteria plan amendments
(authored by RSM US LLP) By Dec. 31, 2021, any employer that made COVID-19-related changes to the operation of its cafeteria plan must adopt formal amendments.
Estate and Gift Taxes: Trying to Predict the Future
As Congress continues to negotiate the Build Back Better Act (BBBA) and changes to estate and gift tax provisions are being considered, many Americans are
Tax policy impacts on high-income individuals
(authored by RSM US LLP) Explore the potential impacts of House-proposed tax changes on wealthy and high-income individuals and strategies to lessen the effects.
Operating nonqualified deferred compensation plans FAQs for employers
(authored by RSM US LLP) Throughout a plan’s life cycle, employers should consider whether their plans remain compliant and aligned with the organization’s goals.
House Ways and Means releases reconciliation tax payfors
(authored by RSM US LLP) House Ways and Means issues its discussion draft amendment with revenue items to offset $3.5 trillion spending package.