Last spring the United States House of Representatives by an over whelming majority passed the most significant changes to the IRA/401(k) laws since their original passage in the mid 1970’s. If signed into law these changes will: allow part-time workers who work less...
PLDO Law Blog
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RI Creates New Tax Credit for Small Business Investment Companies
The Rhode Island General Assembly recently created a new program designed to promote private funding for Rhode Island small businesses. The program creates a tax credit for Small Business Investment Companies (“SBIC”) that invest in eligible Rhode Island businesses....
Estate Planning Ideas in a Low Interest Rate Environment
With the Fed’s recent interest rate cut and more interest rate reductions likely on the way, this may be a good time to take advantage of the low interest rate environment to transfer assets to your beneficiaries with minimal tax consequences and significant benefits...
New Rhode Island Law Limits Non-Compete Agreements
Rhode Island recently joined a growing list of states with laws limiting the ability of employers to use non-compete agreements in the workplace. Employers often insist that employees sign non-compete agreements which would restrict an employee’s ability to work in...
WITHHOLDING THAT EMPLOYEE BONUS CAN BE COSTLY
The law regarding an employer’s obligation to pay contractual bonus amounts received significant clarification in a recent Rhode Island case. Why this is important is that Wage Act violations are subject to mandatory double damages plus attorneys’ fees, and can even...
WHAT’S IN A NAME?
Nonprofit organizations sometimes find that changing missions or a desire for a more updated image fosters consideration of a change in the entity’s name. There are two options if you wish to alter your nonprofit’s name. The nonprofit can legally change its name by...
PERSPECTIVE INTO SOUTH FLORIDA’S BUSINESS & COMMERCIAL REAL ESTATE
If one were to look around South Florida during the past year or so, you might notice that many finance and high-tech companies have relocated to the area from places such as New York and California. Some examples of this migration include the following: Candex, a...
EMPLOYEE RETENTION TAX CREDIT: IRS PROVIDES ADDITIONAL GUIDANCE FOR 2021 Q3 AND Q4
The Employee Retention Tax Credit is a refundable tax credit originally enacted under the CARES Act (the Coronavirus Aid, Relief and Economic Security Act), and subsequently amended in the waning days of 2020. The credit can be applied by qualifying employers against...
RISE OF REMOTE WORKFORCE MAY COMPLICATE STATE TAXES FOR EMPLOYERS
The pandemic has undoubtedly changed the landscape for employers and employees, one area is the proliferation of remote workers. Working remotely is not a new concept, but it is now commonplace due to stay-at-home orders kickstarting the remote work movement. While...