Thought Leadership

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U.S. Imposes Tariffs on $7.5 Billion in EU Goods

On October 18, 2019, the United States imposed additional tariffs on a range of imports from the European Union (EU) that include 10% tariffs on civilian aircrafts and 25% tariffs on a range of products. The tariffs follow a World Trade Organization (WTO) arbitration decision that commenced on…

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Department of Labor Announces New Overtime Rule

The U.S. Department of Labor (DOL) released the finalized rule on overtime exemptions for white-collar workers under the Fair Labor Standards Act. The rule updates the standard salary levels for the first time since 2004. While the pool of nonexempt workers is expected to expand by more than one…

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Setting up a Health Savings Account for Your Small Business

Given the escalating cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, HSAs offer a tax-advantaged way to set aside funds (or have their employers do so) to…

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The Wayfair Decision: What Manufacturers Need to Know About Sales Tax

Many businesses, including manufacturers, that buy or sell products across state lines are affected by the U.S. Supreme Court’s landmark decision in South Dakota v. Wayfair. In this decision, South Dakota’s “economic nexus” statute that requires certain out-of-state sellers to register for and…

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Final QBI Real Estate Safe Harbor Rules Are Issued by the IRS

The IRS proposed a safe harbor earlier this year that would give owners or certain real estate interests the opportunity for a qualified business income (QBI) deduction. The Tax Cuts and Jobs Act (TCJA) created the QBI write-off for pass-through entities. The IRS has released final guidance (…

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