Mar 4, 2025 | Business Planning, Closely Held Business
The Department of Labor announced in April 2024 that it would increase the salary threshold required to exempt a salaried bona fide executive, administrative or professional employee from federal overtime pay requirements. According to a DOL release, “Effective...
Jan 16, 2025 | Business Planning, Closely Held Business, Personal Financial Planning, Tax News
The U.S. tax code is complicated and often hard to understand, with many provisions, credits and disallowances. Let’s review a few credits that many people are interested in, as well as how to respond to the IRS if you get married — or get a taxes-due notice....
Jan 13, 2025 | Business Planning, Closely Held Business, Featured News and Events, Personal Financial Planning
Reposted from Northern Virginia Magazine, December 11, 2024 news article. This essay is part of Northern Virginia Magazine’s December cover story, How the Last 6 Decades Transformed Northern Virginia. It is important to understand where the regional economy is...
Jan 9, 2025 | Business Planning, Closely Held Business, Personal Financial Planning, Tax News
The 2024 election has come to a close, and Trump was reelected for his second term and will be the 47th president of the United States. As a result, the tax policies and initiatives that are currently in place may change, according to all that he spoke about during...
Dec 30, 2024 | Business Planning, Closely Held Business, Tax News
As of Dec. 26, the CTA’s BOI reporting requirements are suspended. Affected businesses can breath a sigh of relief. How did we get here? In brief: The much-debated CTA imposed heavy reporting requirements on a wide range of companies, starting in 2025. The...
Dec 26, 2024 | Business Planning, Closely Held Business, Tax News
The Fed’s big move Many economists were waiting for the Fed’s interest rate cut in September. It was the first time the Fed lowered its benchmark interest rate since it began raising it in 2022. Back then, the Fed increased its rate to combat inflation. In...
