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Independent Contractor vs. Employee Status: The DOL Issues New Final Rule
The test used by the U.S. Department of Labor (the “DOL”) for determining whether a worker should be classified as an independent contractor or an employee for purposes of the federal Fair Labor Standards Act (FLSA) has been revised several times over the past decade. Now, the DOL is implementing a new final rule to replace the employer-friendly test that was developed in 2021 (the “2021 Independent Contractor Rule”). The new, more employee-friendly rule takes effect March 11, 2024.
Manufacturing and Distribution Group Newsletter – Winter 2024
ORBA's Manufacturing and Distribution Group's Winter Newsletter advises those considering selling their business on how to properly evaluate it and offers tips on how a business-owner can prepare for times of crisis.
Real Estate Group Newsletter – Winter 2024
ORBA's Real Estate Group's Winter Newsletter discusses the potential impact of AI in the industry and outlines tax considerations for anyone interested in converting in their vacation home to their primary residence.
Not-For-Profit Group Newsletter – Winter 2024
ORBA's Not-For-Profit Group's 2024 Winter Newsletter covers new resources for not-for-profit organizations, including AI tools, and provides insight into what factors a not-for-profit should consider before taking out a loan.
Wealth Management Group Newsletter – Winter 2024
ORBA's Wealth Management Group's 2024 Winter Newsletter advises businesses owners on how to plan an exit strategy and discusses the benefits and limitations of 529 plans.
Tax Connections Newsletter – Winter 2024
ORBA's Tax Connections Winter 2024 Newsletter explains the tax rules around deducting employee bonuses and business start-up costs.
Pass-Through Entity Taxes Can Pay Off For Real Estate Firms
The Tax Cuts and Jobs Act of 2017’s (TCJA’s) limit on the federal income tax deduction for state and local taxes (SALT) has proven costly for many owners of real estate businesses. However, more than 30 states1 have now enacted a workaround for pass-through entities (PTEs) that could provide some welcomed tax relief. The Impact […]
Fast-Food Restaurants: Are You Making the Most of Your Drive-Through?
During the COVID-19 pandemic, drive-through sales exploded at many restaurants. This should come as no surprise to anyone. After all, avoiding human contact had become a health necessity. What may be more surprising is that in the wake of the pandemic, customers continue to be drawn to the drive-through window. According to a recent report […]