The most prominent tax characteristic of a partnership or LLC is that these entities are flow-through entities for tax purposes. Consequently, the entities do not pay taxes themselves. Rather, they report...
Hotel and hospitality acquisitions generally include additional operational concerns such as employee transitions, food and beverage operations, inventory, and guest baggage turnover, as well as franchise...
When drafting and negotiating an acquisition agreement, counsel should address potential issues arising from allegations of fraud to avoid potentially complex, time-consuming, and costly disputes after...
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Do you need to understand how states are trying to protect employees from algorithmic and artificial intelligence (AI) discrimination? Read our newly published article, States Passing Laws to Prevent AI...
Having a choice is nice! Fries or a side salad? Fresh ground pepper on that? In a private letter ruling, the IRS just okayed offering choice to employees, to be communicated at open enrolment, for each employee to elect, irrevocably, to allocate an employer payment (a uniform percentage of pay up to $2,000) for the upcoming year to their 401(k) plan account (as an employer non-elective contribution, vested immediately), or to their health savings account, retiree health reimbursement account, or as educational assistance (which can include student loan payments). The auto-election is to their 401(k) account. A cash option is unavailable. See Private Letter Ruling 202434006.
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