DOL Releases Final Ruling on Overtime
The final rule updates the earnings thresholds necessary to exempt executive, administrative and professional employees from the Fair Labor Standards Act’s (FLSA) minimum wage and overtime pay requirements, and allows employers to count a portion of certain...
Did You Repair Your Business Property or Improve It?
Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and maintenance can be...
Contractors: Revenue Recognition Standard
The recognition of revenue under current accounting standards requires the consideration of two factors; being realized or realizable and being earned. FASB believes ASU 2014-09 will significantly enhance the comparability of revenue recognition practices while also...
Creating an Incentive Compensation Plan
High-performing, highly productive employees help drive a business toward growth and financial success. A compensation package that includes something more than base pay can help keep valuable employees on board and performing at peak levels. But an incentive...