Why We Won’t See Federal Tax Reform

Rewriting the tax code remains a critical long-term priority.  But the hopes for this Congress passing true tax reform before the next election are all but gone.  Senate Majority Leader Mitch McConnell, when asked about his priorities in the next year, said there was no hope in passing true tax reform under this president.  And […]

New Overtime Rules Impact Businesses

Business owners are scrambling to track and manage the hours their employees really work following last month’s White House proposal that would put more American workers in line for overtime pay.   The rules won’t be finalized for months, but companies need to understand these rules, how to comply, and how to keep labor costs from […]

Transfer Taxes for Clients With International Ties

Americans and their businesses are changing.  More more often than not, we are encountering clients with dealings both inside and outside the United States.  If you fall into this category (consider international ties to family, business, and/or real property), several issues in the transfer tax arena may arise.  What is transfer tax?  Quite simply, it […]

Taxing the Internet

Early in June, the House of Representatives unanimously passed the Internet Tax Freedom Act (ITFA), which bans Internet access taxed by state and local governments.  This is not a new piece of legislation.  ITFA was passed initially in 1998  to reduce costs and spur Internet deployment.  It has been extended five times.  The House’s vote […]

Critical Obamacare Exemption for Small Businesses Expires Tomorrow

The Supreme Court’s recent ruling upholding the legality of Obamacare premium subsidies in states that don’t run their own health insurance exchanges breathed new life into the ACA and tells us, somewhat definitively, that Obamacare is here to stay.  With Obamacare comes a barrage of penalty provisions, including a $100 per-employee per-day penalty on employer […]

Reigning in Patent Trolls: The Innovation and PATENT Acts

Legislation aimed at making it more difficult for “patent trolls” to file unfair patent-infringement lawsuits is making its way through Congress.  The Innovation Act, approved in House Judiciary Committee and currently before the full House, would require that patent trolls clearly explain their claims; make patent litigation more efficient; stop discovery abuses; and make the […]

Senate Tax Reform Changes NC Competes Act

The North Carolina Senate has made significant changes to HB 117, the NC Competes Act, which we detailed for you in April.  In its original form, NC Competes was an economics incentives program designed to draw investment into the state and boost job growth.  It sailed through the House with bipartisan support and eventually stalled […]

Renewable Energy Act Becomes Law

Renewable energy developers received good news this spring when Senate Bill 372, the Renewable Energy Safe Harbor Act, became the law of the land in North Carolina.  The legislation changed the expiration date of the state tax credit for renewable energy projects from Jan. 1, 2016, to Jan. 1, 2017, for projects that are fairly […]

Proposed Changes to NC’s Building Code: House Bill 255

Changes may soon be coming to North Carolina’s building code.  House Bill 255, designed to make the inspection process more efficient for homebuilders, passed the NC House in April with bipartisan support.  It now sits in the Senate, under the guidance of the Committee on Rules and Operations. If passed, the legislation would reduce multiple […]

Retirement money—why are you missing out?

I recently read an article that said that one of the 401(k) advisor firms did a study which indicates that US workers are not taking full advantage of company matches for their 401(k) plans resulting in US workers missing out in at least $24 billion in retirement plan contributions.  That is billion with a “B”.  […]