2017 Standard Mileage Rates Announced for Business, Charitable, Medical and Moving Purposes

By W. Neal Carris, CPA

  

The Internal Revenue Service recently issued the 2017 optional standard mileage rates to be used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

 

Congress Eliminates IRS Penalty on Employer Reimbursements for Health Insurance

By Mary C. Dantuma, CPA, MST, CGMA

The Senate passed legislation revoking a tax penalty on employers who reimburse employees for the cost of health insurance premiums. The IRS began enforcing the penalty last year.

 

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Texas Federal Judge Issues Nationwide Injunction Against Overtime Rule

By Richard M. Ornstein, CPA, CGMA

A Texas federal judge recently issued a nationwide injunction derailing the Department of Labor's new overtime pay rule which would have changed how employers compensate employees. The new rule would have raised the salary threshold at which white-collar workers are exempt from overtime pay from $23,660 to $47,476 starting December 1. An estimated 4.2 million salaried workers were eligible for overtime pay under the new rule.

 

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