July 1st, 2024

June Federal Tax Updates

INDIVIDUALS Final Regulations under Code Sections 170 and 786 follow prior Proposed Regulations limiting charitable contributions flowing from partnerships based on conservation easements to 2.5 times the sum of each partner’s “relevant basis” and determine…

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June 24th, 2024

Know Before You Sign: New Liability Rules for Recreational Facilities

Starting October 1st, a new Maryland law will take effect and significantly impact businesses such as gyms, horseback riding facilities, and skating rinks. Most importantly, this new law provides new legal protections for consumers. Any…

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June 21st, 2024

10 Unique Challenges in Succession Planning for Family Businesses

Family businesses face distinct challenges in succession planning that set them apart from other types of businesses. While succession planning considerations for any business are numerous, these ten key aspects make succession planning for family-owned…

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June 1st, 2024

May Federal Tax Updates

INDIVIDUALS In Excelsior Aggregates LLC v. Commissioner, TC Memo 2024-60, in a decision applied to 13 cases, the Tax Court doubted the value of conservation easements restricting sand and gravel mining and reduced the deduction…

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May 31st, 2024

Celebrating Web Designer Day: The Craft Behind Modern Websites and Legal Considerations

Web Designer Day, observed annually on May 31st, honors the imaginative individuals who create the websites we rely on daily. Modern web design goes beyond mere aesthetics, encompassing user experience, accessibility, and mobile responsiveness. In…

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May 23rd, 2024

U.S. Department of Labor’s Expansion of Overtime Eligibility Goes Into Effect July 1

The U.S. Department of Labor (DOL) announced a final rule on April 23, 2024, that will increase the salary thresholds for the “white collar” (WC) and “highly compensated employee” (HCE) exemptions to the Fair Labor…

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May 22nd, 2024

Road Trip Ready: What to Do If You’re in a Car Accident This Summer

With Memorial Day marking the unofficial start of summer and the travel season heating up, roads will be bustling with vacationers. Unfortunately, this can also mean an increase in traffic accidents. It’s crucial for travelers…

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May 9th, 2024

Senior Fraud Awareness Day: Ensuring Your Loved Ones Aren’t Victims

Did you know seniors lost an estimated $3.1 billion annually to financial scams and fraud? Shockingly, the total losses of fraud reported by elderly victims have increased 84% since 2021. May 15th is National Senior…

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May 1st, 2024

April Federal Tax Updates

INDIVIDUALS In Estate of Finnegan v. Commissioner, TC Memo 2024-42, the Tax Court concluded that settlement proceeds paid by a state as a result of improper findings of abuse and neglect of their children were…

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April 25th, 2024

FTC Issues Ban on Noncompete Agreements

On April 23, 2024, the Federal Trade Commission (FTC) announced a Final Rule, applicable to for-profit employers, that would prohibit the enforcement of most “noncompete” clauses—those clauses that prohibit “workers” from seeking or accepting competing…

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