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January 14, 2020
The SECURE Act – Key Takeaways for Employee Participants
7 Ways to Make Your Financial Close Easier
These seven steps can help finance departments close out their books on 2019 reporting.
4 Trends That Could Affect Your Accounting in 2020
A recent accounting conference highlighted some of the broader stories we can expect to affect finance departments this year, including technology trends, macroeconomic issues, and forthcoming accounting changes.
January 13, 2020
By Karen McLeese
Seattle Mandates Commuter Benefits
Beginning January 1, 2020, Seattle employers with twenty or more employees worldwide must provide transit benefits to their Seattle employees.
District of Columbia: Paid Medical and Family Leave Posting
The Department of Employment Services has issued a model notice that can be used to satisfy an employer’s notice obligation under the District of Columbia’s paid medical and family leave law.
Pittsburgh Paid Sick Leave: Implementation Guidelines and Effective Date
The City of Pittsburgh passed a Paid Sick Days Ordinance in August, 2015. The Ordinance was challenged and the courts ruled against the City. The Supreme Court of Pennsylvania overturned the lower courts’ rulings last year and concluded the Ordinance stands. The City has subsequently issued updated guidelines for employers and employees relating to the Ordinance, which takes effect March 15, 2020.
Unsettled “Use it or Lose It” Vacation Rules in Colorado
The Colorado Department of Labor and Employment recent adopted rules in an effort to clarify how to determine accrued unused vacation in employer-employee agreements that contain a use-it-or-lose-it provision.
January 13, 2020
The Rental Real Estate Safe Harbor for QBI Deductions and Its Questionable Benefits
On Sep. 24, 2019, the IRS finalized a safe harbor procedure that taxpayers may use to treat a rental real estate enterprise as a trade or business for purposes of the Section 199A Qualified Business Income (QBI) deduction.
DOL Clarifies Perks and Benefits for FLSA Purposes
Almost coincident with the effective date of the DOL’s Wage and Hour Division’s overtime rules, which took effect on January 1, 2020, the Department of Labor issued another set of final rules to clarify the types of benefits and other miscellaneous payments that are excludable in an individual’s regular rate of pay.
Are Genetic Testing Services a Deductible Medical Expense?
A recent IRS Private Letter Ruling provides clarification about what types of services qualify as a deductible medical expense under IRC Section 213(d).