For U.S. tax purposes, digital assets are considered property, not currency. A digital asset is stored electronically and can be bought, sold, owned, transferred, or traded. The tax definition of a digital...
Manufactured housing communities (MHCs), also commonly referred to as mobile home parks, continue to increase in popularity, while state and local regulations governing them also continue to expand. Read...
Parties come together to form joint ventures when all involved believe that they will have greater success working cooperatively on a specific project, product, or business than they would have if they...
Learn best practices for advocating on behalf of your FDA-regulated clients in light of the new legal paradigm introduced by the Supreme Court’s decisions in Loper Bright and Corner Post . Read...
Do you need to learn about potential legal and business risks stemming from the use of artificial intelligence (AI) tools to manage employee performance and make employment decisions (e.g., screening,...
Section 162(m) limits the deductibility of taxable compensation paid in any tax year to covered employees of publicly held corporations and certain affiliates to the extent such compensation exceeds $1 million (per covered employee). The Tax Cuts and Jobs Act changed Section 162(m) by (1) eliminating the prior performance-based compensation exemption, and (2) increasing the number of covered executives, consistent with SEC disclosure requirements. Importantly, the TCJA added a “once-covered-always-covered” rule providing that any individual who serves as the employer's CEO or CFO or who is classified as one of the next three highest-paid executive officers remains designated as a Section 162(m) covered employee after employment, and even after death. This worksheet can help you track your covered employees.
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