Thu.Feb 11, 2021

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Sales Tax and Valentine's Day

TaxConnex

Candy, flowers, jewelry, dinners: The gifts may be the same, but Cupid’s arrow will fly in new online directions this year for Valentine’s Day presents. And it might land right on your company’s bottom line after sales and use tax obligations. Expected s pending on Valentine’s Day gifts this year dropped to an average $164.76 , down about $32 from a record high in 2020 , according to the National Retail Foundation.

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IRS Again Addresses COVID-19 Relief Applicable to Dependent Care FSAs

ThomsonReuters

IRS Information Letter 2020-0027 (Sept. 25, 2020). Available at [link]. The IRS has released another information letter responding to an inquiry regarding unused amounts in a participant’s dependent care flexible spending arrangement (FSA) account. The participant had unused amounts because his children did not attend summer camp due to COVID-19 and he did not expect to have additional childcare expenses for 2020.

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The Annual Performance Evaluation

RitaKeller

“Be spectacularly great at what you do. Wear your passion on your sleeve and hold your heart in the palm of your hand. And work hard. Really hard.” – Robin Sharma. If you have been keeping up with current trends in firm management, you probably know all too well that the annual performance review is on the verge of death. Many firms have already abandoned this old-school method of providing team members with information that could help advance their careers.

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When Can an Employer Provide Nontaxable Local Lodging?

ThomsonReuters

QUESTION: Our company would like to assemble its senior staff for a four-day retreat at a facility near our headquarters to work on our long-term business plan and receive some training. This would not be travel “away from home” for most of them, and we understand that the usual travel exclusion rules will not apply to our local employees. But will we need to treat the value of lodging provided to those local employees as taxable income?

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Planning Your Restaurants Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Digitizing Forms & Processes: A Primer

Withum

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DOL Reports 2020 Mental Health Parity Enforcement Activity

ThomsonReuters

DOL Fact Sheet: FY 2020 MHPAEA Enforcement; An Introduction: DOL MHPAEA FY 2020 Enforcement Fact Sheet (Jan. 15, 2021); Appendix: MHPAEA Violation Guidance Compendium. Fact Sheet. Introduction. Appendix. The DOL has issued a fact sheet summarizing 2020 mental health parity enforcement activity conducted by the DOL and (with respect to non-federal governmental group health plans) the Centers for Medicare & Medicaid Services (CMS).

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