Minimum Wage in St Petersburg Florida

New DOL Investigation Finds Employer Violated Minimum Wage Law

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A company has agreed to pay 15,909 employees nationwide a total of $976,765 ($488,229 in back wages and an equal amount in liquidated damages) after an investigation by the U.S. Department of Labor’s (DOL) Wage and Hour Division found that the employer violated federal...
Accounts in St Petersburg Florida

Health Savings Accounts May Carry New Employer Risks

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A complex federal regulation known as the Department of Labor (DOL) Fiduciary Rule is scheduled to begin phasing in on April 1. The thrust of the new rule, which has been in the works for several years, has been significantly modified from its original version. The rule pertains...
Student Athletes in St Petersburg Florida

Court: Student Athletes Aren’t Employees Under the Fair Labor Standards Act

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Courts have consistently found that student athletes aren’t employees who are required to be paid under federal law — and a U.S. Appeals Court came to the same conclusion in a new case. Facts of the Latest Case The U.S. Court of Appeals for the Seventh Circuit has upheld a...
Partner in St Petersburg Florida

Employee, Partner or Both? Recent Developments Help You Decide

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Are you an employee, a partner, a partner who doesn’t know it — or a combination of these classifications? The answer can have serious tax implications. If you participate in a business that’s operated as a partnership or a limited liability company, here are some...
Annual Exclusion in St Petersburg Florida

Why making annual exclusion gifts before year end can still be a good idea

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A tried-and-true estate planning strategy is to make tax-free gifts to loved ones during life, because it reduces potential estate tax at death. There are many ways to make tax-free gifts, but one of the simplest is to take advantage of the annual gift tax exclusion with direct...
Contributions in St Petersburg Florida

Age 50 or older? Catch-up contributions are for you

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Are you in your 50s or 60s and thinking more about retirement? If so, and you’re still not completely comfortable with the size of your nest egg, don’t forget about “catch-up” contributions. These are additional amounts beyond the regular annual limits that workers age 50 or...
Elimination in St Petersburg Florida

Avoiding the Legal Hazards of Job Elimination

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Sometimes, in the life of a business, employers need to streamline the workforce. Doing so might include eliminating some positions altogether. When that happens, it’s important to tread carefully to ensure you don’t unintentionally violate labor regulations. The most...
Telefraud in St Petersburg Florida

FBI Case Exposes Massive Telefraud Scheme

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Do you dread getting phone calls from unfamiliar sources? It seems that callers are more likely to be aggressive solicitors, pushy telemarketers or even devious con artists than legitimate business people. Criminals typically target the elderly, disabled people or immigrants,...
Bonuses in St Petersburg Florida

Can you pay bonuses in 2017 but deduct them this year?

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You may be aware of the rule that allows businesses to deduct bonuses employees have earned during a tax year if the bonuses are paid within 2½ months after the end of that year (by March 15for a calendar-year company). But this favorable tax treatment isn’t always available. For...
tax-saving tips in St Petersburg Florida

7 last-minute tax-saving tips

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Where did the time go? The year is quickly drawing to a close, but there’s still time to take steps to reduce your 2016 tax liability. Here are seven last-minute tax-saving tips to consider — you just must act by December 31: Pay your 2016 property tax bill that’s due in early...