Government Contracts and the STR

July 22, 2020

With the Federal government planning to ramp up infrastructure spending to get the economy going with “nation building” projects, the opportunity is ripe for businesses to take full advantage and tender for these contracts. Before you dive into writing your tender, you should be aware that any contracts over $4m (including GST) will require your business to obtain a statement of tax record (STR) from the ATO.

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Why Maintaining Payroll Records Remains an Absolute Must

July 22, 2020

The COVID-19 pandemic has forced many small businesses to reduce their operations, furlough workers and even shut down for a period. But this doesn’t mean employers can allow payroll recordkeeping obligations to lapse. Your business is still responsible for creating and maintaining records for possible inspection by the Equal Employment Opportunity Commission (EEOC) and the Department of Labor (DOL).

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New Supreme Court Rulings on Immigration and Discrimination Summon Attention

July 20, 2020

Employers that hire foreign workers may have a hard time filling certain job slots soon, if recent action by the Trump Administration survives legal scrutiny. The affected foreign workers are those who have been able to come to the United States using several categories of work visas. In late June, President Trump signed an executive order suspending applications for:

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Tax-Favored QSBC for the COVID-19 Era and Beyond

July 6, 2020

The COVID-19 crisis has taken a toll on many small businesses. But some winners are expected to emerge from the wreckage. Unprecedented steps will be taken to guard against health risks from COVID-19 and whatever might come along next. The new normal will create new opportunities. Small businesses that can respond to those opportunities will survive and thrive.

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A Good Time for Making Tax-Smart Family Loans

July 6, 2020

During the COVID-19 crisis, you may want to loan money to a family member in need of financial assistance. However, before writing out a check, you should review the federal tax rules to ensure that you’re making a tax-smart loan. The good news is that now is generally an advantageous time to lend money to family members.   

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