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Additional Compensation for Exempt Employees
Is it permissible to pay additional compensation for exempt employees without jeopardizing an employee’s exemption status? The Fair Labor Standards Act (FLSA) allows employers to compensate exempt employees with additional compensation (beyond the employee’s regular...
New York Corporate Tax Reform
New FAQ page addresses questions about New York corporate tax reform Comprehensive corporate tax reform for New York State was enacted earlier this year, mostly effective for tax years beginning January 1, 2015. The legislated changes include a new nexus standard,...
Medicare Surtax for High-Income Employees
Since the beginning of last year, employers have been required to withhold an additional nine-tenths of a percent for the Medicare surtax for high-income employees. The rules are somewhat complicated, so the IRS recently updated its frequently-asked questions on how...
Home Office Tax Deduction
There is an option that makes it simpler for qualifying taxpayers to include a home office tax deduction. The IRS announced a simplified option that many owners of home-based businesses and some home-based workers may want to use to figure their deductions for the...
