Newsletters


MISSOURI MINIMUM WAGE – changing effective January 1, 2020

The minimum wage rate in Missouri will increase 85 cents each year through the year 2023.  The increases apply to all private, non-exempt businesses.  As a result, the new minimum wage rate will be $9.45 (up from $8.60) for all hours worked on or after …   Read More >>
 

NEW OVERTIME RULE – Effective January 1, 2020

The Fair Labor Standards Act (FLSA) provides basic workplace protections to most workers.  The federal labor law requires the federal minimum wage for every hour worked.  It also requires overtime at one and one-half times the regular rate of pay for ho …   Read More >>
 

What businesses should know about General Business Credits

The general business tax credit is not a single separate credit but a combination of specific tax credits that promote certain business activities, such as research, oil recovery, reforestation or starting a pension plan. Detailed information on how certa …   Read More >>
 

Tax Credit for Employers Providing Paid Family and Medical Leave

We would like to remind you that eligible employers who provide paid family and medical leave to their employees during tax years 2018 and 2019 might qualify for the new business tax credit. To claim the credit, eligible employers must have a writte …   Read More >>
 

Sales Tax Compliance Issues that May Affect Your Business

History In Brief
  • For years, the US Supreme Court’s Quill decision has limited states’ ability to require out-of-state companies to collect and remit sales tax on sales made to customers in their state.
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ESTATE PLANNING CONSIDERATIONS

  As you may be aware, the law has changed dramatically for estate and gift taxes in recent years. In 2011, the estate tax exemption increased to $5 million and there have been subsequent increases under the Tax Cuts and Jobs Act (TCJA). For 2019, …   Read More >>
 

Form W-2 employees

To all clients with Form W-2 employees As you may be aware, the Fair Labor Standards Ac …   Read More >>
 

4029 Exemptions

Reminder – 4029 exemptions As y …   Read More >>
 

Corporate Minutes

As you are probably aware, one of the requirements for maintaining a corporation’s existence (and the liability protection that it affords) is that the shareholders and Board of Directors must meet at least annually. Although most people view this requi …   Read More >>
 

Tax Tip 2019-104: Business owners may be able to benefit from the home office deduction

Taxpayers who qualify may choose one of two methods to calculate their home office expense deduction:
 

Opportunity Zones

Do you/will you have capital gains in 2019? Do you wish to possibly defer the gain? The Tax Cuts and Jobs Act provides temporary deferral of capital gain income if  the gain is reinvested in a qualified opportunity fund (QOF) and the permanent exclusi …   Read More >>
 

IRS Withholding Tables change for 2018

The new IRS withholding tables were needed to reflect the changes in tax rates and tax brackets, increased standard deduction and repeal of personal exemptions that were included in the new tax reform law signed in December. Acco …   Read More >>

 

TCJA greatly eases rules for bonus depreciation, Code Sec. 179 expensing and regular depreciation

The Tax Cuts and Jobs Act (TCJA) has effectively lowered the cost of acquiring capital assets by making substantial changes to the income tax rules for bonus depreciation and other “cost recovery.” There's a lot to discuss, but please bear with me. On …   Read More >>
 

Changes to Meals and Entertainment Expense Deductions

The Tax Cuts and Jobs Act has made changes to the meals and entertainment deductions. Read More >>
 

Changes to Moving Expenses under Tax Cuts and Jobs Act

Reimbursements for moving expenses made to employees or paid directly to third parties on and after January 1, 2018 and through December 31, 2025, are to be …   Read More >>