On April 3, 2020, the IRS has released Form 7200 to claim advance payment of tax credits discussed below.
The Families First Coronavirus Response Act (FFCRA), enacted on March 18, 2020, requires private employers with fewer than 500 employees to provide employees with paid sick leave or extended family and medical leave for specific reasons related to COVID-19.
Effective Date: April 1, 2020, and applies to leave taken between April 1, 2020 – December 31, 2020 (more…)
In our new and ever changing “on-demand” economy it is not often clear who is an employee and who is an independent contractor. With all the legal activity currently taking place, this topic will be the subject of a future blog. Now I want to discuss one of the implications of this issue. Generally, contractors do not receive the fringe benefits offered to employees. Correctly identifying individuals as employees became more important with the passage of the Healthy Workplaces, Healthy Families Act of 2014.
As a company, you intended the stock options you provide to be a benefit not a burden to your employees. For the employee to obtain the maximum benefit from the options, they have to be able to exercise the shares. However, the tax implications of the exercising ISO (Incentive Stock Option) shares can have costly consequences for your employees. Here are some tax implication scenarios that can transform ISOs from benefit to burden…
Now that the economy is showing signs of growth, your company may start facing stiffer competition to attract and retain talent. Equity opportunities within a company are one of the ways companies make themselves more attractive to potential and existing employees. In addition to a recruiting and retention tool, equity also creates long-term buy-in and ties the company’s success to the employee’s success. One common equity strategy is…
