The IRS issued proposed regulations (REG-119307-19) implementing changes to Sec. 274 that disallow a deduction for the expense of any Sec. 132(f) qualified transportation fringe (QTF) provided to an employee, effective for amounts paid or incurred after Dec. 31, 2017. The changes were enacted in the law known as the Tax Cuts and Jobs Act […]
Trump ‘furious’ about ‘underwhelming’ crowd at Tulsa rally
President Donald Trump pumps his fist as he enters his first re-election campaign rally in several months in the midst of the coronavirus disease (COVID-19) outbreak, at the BOK Center in Tulsa, Oklahoma, U.S., June 20, 2020. Leah Millis | Reuters President Donald Trump is “furious” at the “underwhelming” crowd at his rally in Tulsa, Oklahoma, on […]
U.S. reports 30,000 daily coronavirus cases, highest number since May 1
The U.S reported some 30,000 new coronavirus cases on Friday, the highest number of daily infections recorded since May 1, according to data compiled by Johns Hopkins University. New cases across the country are surging faster than ever, especially in states in the South, West and Midwest. Officials are warning that some clusters of infections […]
Read SpaceX president Gwynne Shotwell’s email to employees about Juneteenth, diversity initiatives
SpaceX President and COO Gwynne Shotwell Jay Westcott / NASA SpaceX president and COO Gwynne Shotwell sent a company-wide email on Friday to clarify CEO Elon Musk‘s declaration about Juneteenth, as well as to tell employees about new diversity initiatives at the company. “Next year, Juneteenth will be an official company holiday,” Shotwell wrote in […]
Guidance on how to take CARES Act distributions from qualified plans
The IRS explained on Friday how qualified individuals can take coronavirus-related loans and distributions from eligible retirement plans (Notice 2020-50). Qualified individuals receive favorable tax treatment for those distributions under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136. Distributions: A coronavirus-related distribution is not subject to the Sec. 72(t) 10% additional tax […]
Podcast: How to help clients make good decisions in times of transition
The emotions underlying decisions can create confusion in times of major transition like the pandemic. In this podcast, you will walk away with gems to help you have better conversations with your clients that lead to action with purpose. Tune in as Lyle Benson interviews life transition expert Susan Bradley: What are the four stages […]
American Airlines bans passenger who was asked to get off flight for refusing to wear a mask on board
American Airlines Boeing 737-800 aircraft Nicolas Economou | NurPhoto via Getty Images American Airlines is temporarily banning a customer who was kicked off a flight in New York this week for refusing to wear a face mask on board, a requirement on major U.S. airlines that aims to curb the spread of Covid-19. American said crew asked the […]
Slack invested in this online recruiting start-up without ever meeting the CEO in person
Crosschq CEO Mike Fitzsimmons Crosschq At a virtual board meeting in early March, Crosschq CEO Mike Fitzsimmons told directors of his online recruiting company that he was about to make an unexpected call to Slack. With fears of the coronavirus roiling capital markets and the economy on the verge of shutting down, Fitzsimmons wanted to […]
DOJ sues to stop former Trump national security advisor John Bolton’s tell-all book
Former U.S. National Security Advisor John Bolton speaks at the Center for Strategic and International Studies September 30, 2019 in Washington, DC. Win McNamee | Getty Images The Trump administration filed a lawsuit Tuesday against former national security adviser John Bolton, hoping to delay publication of his tell-all book, due to be released next week. “The […]
Dow futures pop 200 points as stocks look to extend gains after Monday’s big comeback
Futures contracts tied to the major U.S. stock indexes rose Monday evening as investors looked to extend Wall Street’s gains from Monday’s dramatic comeback. Dow Jones Industrial Average futures rose 222 points, suggesting an open gain of 270 points when regular trading resumes on Tuesday. S&P 500 futures pointed to an opening advance of 1% while Nasdaq-100 futures indicated […]