First, what is this harvesting? – no, you do not need to live in a farm. Tax loss harvesting is selling investment with a loss (take that capital loss) and apply against the capital gain of profitable investments. Example 1: Sold share of X Inc with a $5k loss (purchased at $7k and sold at
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,
If you are a homecare agency, you should be aware of potential changes from Centers for Medicare and Medicaid Services that would require the payment of 80% of the Medicaid fees for services to the employees providing the services, defined as "... homemaker, home health aide, and personal care services on direct care worker compensation."
The Cohan rule originated from a case from 1930, but it is still applicable and used to this date. The Cohan rule allowed to claim deductions even if the taxpayer had no documentation for these expenses (in general and in practice, the Court allows lower expenses that the ones claimed by the taxpayer). Cohan was
A few months back, I was giving a small training for small businesses in LAEDA's office in Camden, New Jersey. While going over my presentation, I try to make it interactive and allow participants to ask questions on the topic being discussed or similar ones (at the end, there is always a Q&A portion for
