Over the past several months, the U.S. Department of Labor has been developing new rules that would raise the salary threshold for whether an employee is exempt from overtime pay. On May 18th, the final regulations were released, and they present a dramatic change from the current rules. Millions more
Recent legislation has made a research and development tax credit on the federal level permanent, but Indiana has long been ahead of the game by creating their own incentives to help keep research and development jobs within the state. Research and development spending, and thus R&D jobs, often require long-term
In May of 2016, the IRS released new regulations confirming that owners of a partnership cannot be considered employees of a wholly owned, disregarded entity for tax purposes. Why is this important? It has been a long standing rule that persons with ownership in a partnership are not treated as
Kentucky and Ohio offer a number of taxpayer incentives, such as nonrefundable and refundable tax credits, as a part of their state economic development programs. Non-refundable tax credits can only offset a tax liability, whereas a refundable tax credit is refunded to the taxpayer if there is credit in excess
Does your organization provide services that are critical to another organization’s success? Does your organization process or store information for other organizations? If you can answer “yes” to either of these questions, it is more than likely that you need a Service Organization Control report, or SOC for short!
According to ITR Economics late 2016 and early 2017 will show improvement in the wholesale-distribution sector. Manufacturing is expected to reach its bottom in the 2nd quarter of 2016. With this in mind, it is important to understand that your region of the country and industry will dictate your