by Admin | Oct 29, 2024 | Uncategorized
During the 2020 Regular Session, the General Assembly reenacted the Virginia Minimum Wage Act. The new statute stated the Commissioner of Labor and Industry shall establish the adjusted state hourly minimum wage by October 1, 2024, to take effect on January 1, 2025,...
by Admin | Sep 12, 2024 | Uncategorized
As educators gear up for the new school year, the IRS reminds schoolteachers that the maximum deduction for classroom expenses in 2024 remains at $300. This deduction allows educators to offset the cost of supplies, materials and other classroom essentials, providing...
by Admin | Sep 10, 2024 | Uncategorized
The Corporate Transparency Act (CTA), enacted as part of the Defense Authorization Act for Fiscal Year 2021, represents a significant legislative effort to enhance corporate transparency and combat illicit financial activities in the United States. The CTA mandates...
by Admin | Sep 5, 2024 | Uncategorized
Taxpayers are limited in the annual amount they can contribute to a Roth IRA. The maximum contribution for 2024 is $7,000 ($8,000 if age 50 or older), but the allowable 2024 contribution for joint-filing taxpayers phases out at an adjusted gross income (AGI) between...
by Admin | Aug 26, 2024 | Uncategorized
In recent years, tipping culture has seen significant changes, particularly with the rise of digital payment kiosks and self-checkout lanes. A CBS News article recently questioned, “Are tip requests getting out of hand?,” pointing out the shift from traditional...
