Just a week or so ago, the IRS issued final regulations and guidance implementing the new qualified business income (QBI) deduction (sec. 199A deduction), created by the Tax Cuts and Jobs Act signed into law in 2017. The QBI deduction, available in tax years beginning with 2018, allows owners of sole proprietorships, partnerships, trusts, and…
Read More »At long last, the public comment period for the new joint employer regulation has finally closed. The regulation, which was first published in the federal register last September 18, was initially open for public comment only through November 18. Since that time however, the closing deadline was postponed twice until January 12, and then, caught…
Read More »That’s the Department of Labor, of course, and joint employer wasn’t their only headline these past few weeks. The department finally sent along to the Office of Information and Regulatory Affairs (OIRA) a proposed regulation to “clarify, update and define” the basic and regular rate for calculating overtime pay. It is believed the regulation will…
Read More »In the cacophony of candidate announcements of exploratory committees, fundraising initiatives, and ‘test-the-waters’ visits to New Hampshire and Iowa, perhaps none is generating as much response as speculation about a Howard Schultz independent campaign. The former Starbucks CEO confirmed this week that he is considering launching an independent campaign for the White House that has…
Read More »As we predicted over the past few weeks, New Jersey gave its official blessing to more minimum wage increases up to $15 per hour effective by 2024 yesterday when both branches of the New Jersey legislature passed S.15 and sent it on to the Governor. The bill has enjoyed support from Governor Phil Murphy for…
Read More »Although many in the business community saw the “Grand Bargain” (the name given to a legislative/gubernatorial deal to raise wages and mandate paid leave in Massachusetts) as troublesome, but palatable, it appears that the regulations to implement the law could be ‘the straw that breaks the camel’s back’! At the first of seven planned public…
Read More »In the wake of the government shutdown last month, the Small Business Administration (SBA) has extended the deadline for the 2019 National Small Business Week Awards nominations until next Monday. All nominations packages must be hand delivered to the nearest SBA Office as they must be submitted by 3:00 EST on Monday, February 4, 2019. …
Read More »McDonald’s Corp. reported Q4 earnings showing modest US results on Wednesday of this week with SSS +2.3% but traffic down 2.2%. Although average ticket was positive at +4.5%, one of the largest ticket gains in recent history, US traffic remains weak, especially compared to other international lead markets. Breakfast also is still weak – the…
Read More »The annual wealth and affluence monitor identifying states with the highest ratio of millionaire residents was released this week by NYC-based Phoenix Marketing International, and it seems we now have a new champion – New Jersey! The ratio of millionaire households to total households in the Garden State for 2018 came in at 8.95 percent,…
Read More »For Dunkin’ franchise owners looking to join DDIFO for 2019 and have the National DCP process their annual membership investment must complete the NDCP authorization of DDIFO dues payment survey before the close of business today, February 1. Franchise owner members who have previously authorized the payments need not do anything and your membership investment…
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