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Employee fraud and misconduct are risks to all businesses. It is often difficult for companies to acknowledge the reality of these risks, but, according to the most recent Report to the Nations published by the Association of Certified Fraud Examiners, it is estimated that companies...
Read MoreRead MoreGarrett T. Senney has a PhD in Economics from The Ohio State University and works for the Office of the Comptroller of the Currency (OCC) in Washington, DC. Dr. Senney has graciously given us permission to publish his article below regarding banking a marijuana business. ...
Read MoreRead MoreInvesting in startup and growth-stage businesses has generally been limited to accredited investors. Accredited investors are individuals with annual compensation of at least $200,000 for the last two years or a net worth of at least $1,000,000 (not counting personal residence). Startups solicited accredited investors...
Read MoreRead MoreThe Ohio Senate unanimously recently passed Senate Bill 8. If enacted, this Bill would create a 10% Ohio income tax credit for Opportunity Fund investments. The maximum amount of such credits permitted under this Bill in the initial two-year period would be $50 Million, with...
Read MoreRead MoreAs part of its ongoing security review, the Internal Revenue Service announced today (IR-2019-58) that starting May 13th, only individuals with tax identification numbers may request an Employer Identification Number (EIN) as the “responsible party” on the application. An "EIN" is a nine-digit tax identification number...
Read MoreRead MoreThe recently enacted Tax Cuts and Jobs Act (“TCJA”) introduced two tax saving opportunities. One option permits a taxpayer to defer gain from the sale of property that is reinvested in an investment in a Qualified Opportunity Fund (“QO Fund”). The second option permits the taxpayer to...
Read MoreRead MoreOn January 25, 2019, in SuperShuttle DFW, Inc., 367 NLRB No. 75 (2019) (“SuperShuttle”), the National Labor Relations Board (“NLRB”) affirmed the common law test for determining whether workers are independent contractors under the National Labor Relations Act (“NLRA”). Section 2(3) of the NLRA excludes...
Read MoreRead MoreThe IRS has issued final Code Section 199A regulations that describe how to determine the amount of the qualified small business income deduction. For tax years beginning after December 31, 2017 and before January 1, 2026, non-corporate taxpayers including estates and trusts who have qualified business...
Read MoreRead MoreOn December 14, in Texas v. United States, a District Court judge in the Northern District of Texas held that the Affordable Care Act (“ACA”) violates the United States Constitution. Where does this leave employers who have over 50 employees and are providing health coverage...
Read MoreRead MoreGenerally, there are two government agencies that pay the costs of long-term care on an ongoing basis, if you qualify. One is Medicaid, which administers a joint federal and state program, the other is the Veteran’s Administration (VA), for veterans and certain surviving family members. Aid...
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