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Texas Federal court struck down the DOL exempt salary rule
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Texas Federal court struck down the DOL exempt salary rule

Business, Individuals

Texas Federal court struck down the DOL exempt salary rule

Earlier this month, a Texas Federal judge struck down the DOL (Department of Labor) exempt salary rule that raised the minimum salary as exempt from overtime and minimum wage requirements under the Fair Labor Standards Act (FLSA). It is reverted now to the rules before July 1, 2024. The salary level test amount for executive,

By Victor Garrido, CPA, EA|2024-11-30T19:57:06+00:00November 30th, 2024|Categories: Business, Individuals|Tags: annual, Department, exempt, Fair Labor Standards Act, federal, Labor, minimum, rule, salary, Texas, wage, weekly|

IRS increases standard deductions, estate tax exemp, annual gift, etc. due to inflation for 2025
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IRS increases standard deductions, estate tax exemp, annual gift, etc. due to inflation for 2025

Business, Individuals

IRS increases standard deductions, estate tax exemp, annual gift, etc. due to inflation for 2025

As communicated each year, the IRS has updated some of the deductions, tax exemptions, tax exclusions and other tax items based on inflation. In several media, this has been celebrated as the IRS increasing the threshold and in some cases creating clickbait headlines to attract readers, but the reality is that each fall the IRS

By Victor Garrido, CPA, EA|2024-10-24T02:05:16+00:00October 24th, 2024|Categories: Business, Individuals|Tags: annual, child, credit, deduction, estate, exemption, fall, gift, irs, standard, tax, threshold|

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