Legal News for Businesses Archives - Pickrel, Schaeffer & Ebeling

Online Sales Tax: It’s not too often the U.S. Supreme Court overturns a prior ruling on an issue it has already decided; most often, the nine justices are tasked with sorting out conflicts of law involving different interpretations from lower courts at the state and...

Read MoreRead More

Second Round of Tax Cuts Possible

Jeff Senney

Business, Tax & Real Estate, Legal News for Businesses, Legal News for Individuals, Senney Says by Jeff Senney

Second Round of Tax Cuts? On June 19th, House Republicans unveiled a budget plan that would permit lawmakers to use the reconciliation process to reduce the federal deficit while implementing a second tax cut. Using the reconciliation process, the bill would require only a simple...

Read MoreRead More

IRS Scrutinizes State work-around Legislation

Jeff Senney

Business, Tax & Real Estate, Legal News for Businesses, Legal News for Individuals, Senney Says by Jeff Senney

Written by: Jeff Senney, Tax and Business Law Attorney In Notice 2018-54, the IRS informed taxpayers that it intends to propose regulations which address the federal income tax treatment of tax deduction payments made by taxpayers to certain state-established "charitable funds." These funds were created by...

Read MoreRead More

Supreme Court Upholds Class Action Waivers in Employment Arbitration Agreements

Kristina Curry

Kristina E. Curry, Legal News, Legal News for Businesses, Legal News for Individuals, Matthew D. Stokely, Workers Compensation & Employment

By Kristina E. Curry On May 21, 2018, the U.S. Supreme Court upheld employment arbitration agreements which prohibit employee class and collective actions. Epic Systems Corporation v. Lewis No. 16-285, involved three consolidated cases where former employees attempted to make claims under the Fair Labor Standards...

Read MoreRead More

2018 Depreciation Limits for Passenger Autos

Jeff Senney

Business, Tax & Real Estate, Legal News for Businesses, Senney Says by Jeff Senney

The IRS has released the IRC Section 280F depreciation limits for business passenger automobiles placed in service by the taxpayer in 2018, taking into account the changes made by the recently enacted Tax Cuts and Jobs Act (TCJA). The IRS has also released the annual...

Read MoreRead More

Things to know before contracting with an Ohio Municipality

Gerald McDonald

Business, Tax & Real Estate, Gerald L. McDonald, Legal News, Legal News for Businesses, Legal News for Individuals, Uncategorized

Contracting with an Ohio municipality definitively has its benefits. You typically know exactly what is expected up front, and full and timely payment is generally a certainty. However, there are some peculiarities with public contracts that you generally do not find when contracting with a...

Read MoreRead More

Should You Convert Your S corporation to C corporation ?

Jeff Senney

Business, Tax & Real Estate, Legal News for Businesses, Legal News for Individuals, Senney Says by Jeff Senney

Should you convert your S Corporation to a C Corporation? Under the recent federal tax act, the highest corporate income tax rate in 2018 will be 21%. That is significantly lower than the highest individual income tax rate of 37%. This significant rate variation creates...

Read MoreRead More

Student Status Expires, What’s Next?

Christie Back

Business, Tax & Real Estate, Christie Back, Immigration Law, Immigration Law, Legal News, Legal News for Businesses, Legal News for Individuals, Senney Says by Jeff Senney

With graduation season quickly approaching, students are looking to the future. For some, finding a job is the biggest battle they are facing. For others, graduation means the termination of lawful student status in the United States. If you are a student looking for legal...

Read MoreRead More

Employer’s Liability for FICA Taxes Can be Offset by Self-Employment Tax Paid by Workers

Jeff Senney

Legal News, Legal News for Businesses, Matthew D. Stokely, Senney Says by Jeff Senney, Workers' Compensation and Employment Law

In a recent Chief Counsel Advice (CCA), the IRS concluded that an employer who misclassified employees as independent contractors could offset FICA taxes owed by the employer with self-employment taxes paid by the workers. Where workers are properly classified as employees, the employer is liable for...

Read MoreRead More