November 16, 2016
LBF would like to remind our clients that new overtime laws will be taking effect starting December 1, 2016. Please be aware that with these new provisions, all professional, administrative, and executive employees must earn a salary of at least $47,476 ($913 per week) in order to be considered "exempt" from overtime pay. Employers may consider the following options to be in accordance with the new law:
You can find more details here.
As the month “Marches” on, and we at LBF are in full tax season mode, we want to remind those of you whose returns we have finished to please get us your 8879 electronic filing form ASAP so we can file your return (which we will not do without this form), and assure your filing is timely. Also, remember that even if you owe taxes (we hope you don’t), the IRS will not be...
Many people receive tax refunds from the IRS and wonder how long it will take to receive your refund. You wait by the mailbox or look at your bank account hoping that your refund is there. We will fill you in on the tax refund schedule and how long it takes for the IRS to issue refunds.
When Are Taxes Due?
The deadline to submit your 2018 tax return and pay...
As you are collecting your tax documents for this year’s tax return (or stuffing them in a file drawer if your return has already been filed), you may be wondering: “How long to I need to keep this stuff?”
The general rule is that you should keep all documents that prove the information on your tax return until that return can no longer be audited, and interest and...
