The CBD Blog

Find peer advice, partner insights, and industry updates – all here in the CBD blog, ‘At The Helm’! With contributions from our entire team, we blog about the things that interest you.

Exploring the Cashless Movement in Retail

Retailers have seen a significant decrease in customers who pay with cash over the last decade and that trend is expected to continue. Some businesses have even stopped accepting cash at all. Here are the reasons for the declining popularity of cash as a form of payment, considerations for businesses who are contemplating going cashless in the future and recent legislative moves to block this trend.

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Does Your Company Allow Vaping on the Job?

All your efforts to establish a healthy work environment for your employees could be vaporized with one false move, if you turn a blind eye to vaping (using e-cigarettes) on the job. Or at least that’s the worry of some employers and regulators today. Not everyone is knowledgeable about vaping, but that doesn’t mean they don’t have strong opinions. Before you set a policy that affects your workforce, take a look at some of the issues involved.

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Records Retention Guidelines to Remember during Spring Cleaning

Spring has finally sprung! Before you start cleaning out your personal or business files, review these guidelines. On the one hand, excess clutter takes up space in your home, office or hard drive and it could lead to stolen identities if not properly disposed of. But, if you purge too soon, you might not be able to file an amended return or defend against inquiries by the IRS and state tax agencies.

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EEOC Spotlights Disability Discrimination Claims

Is your company in compliance with the federal and state laws that protect disabled employees and job applicants from discrimination? Many violations happen because employers are unaware of the rules and the scope of the protections. Here are three recent EEOC cases that show how even unintentional violations can lead to disability discrimination claims and steep penalties.

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Electric Vehicle Tax Credit: You Can Still Save Greenbacks for Going Green

Buyers of new plug-in electric or hybrid vehicles may be eligible for a federal income tax credit of up to $7,500, along with other cost-saving benefits depending on where they live in the United States. But beware: Some electric and hybrid vehicles now qualify for only a partial credit due to a phaseout rule. If you wait too long, the credits for those vehicles will be completely phased out. Here are the details.

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How to Prepare for the Probable Demise of LIBOR

Do you have adjustable-rate loans or other financial arrangements that are based on the London Interbank Offered Rate (LIBOR)? This traditional reference rate’s days may be numbered. Here’s the reason for LIBOR’s probable demise and a possible alternative that’s based on real-world transactions, rather than on voluntary submissions by banks.

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Defeating Age Discrimination in the Workplace

More than a half century after the passage of an important law aimed at eliminating workplace age discrimination, many employers still find themselves facing allegations of this type of violation. Whether the discrimination is intentional or unplanned, the result can be draining for all parties. Here’s a primer on how to avoid running afoul of laws that protect workers from being shut out of the job market based only on age.

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Hiring Minors to Work at Your Company? Know the Rules

If your company is planning to hire teenage job seekers for seasonal or year-round work, that could be a win-win situation. The teens get valuable job experience and, of course, income. And you benefit from the youth and enthusiasm they bring. If the workers are under age 18, however, be aware that you must adhere to various child labor laws. Here’s what you need to know.

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It’s Not Too Late for Some Business Owners to Lower Their 2018 Taxes

Even though last year is long over, there are still tax-saving opportunities for business owners to consider for the 2018 tax year, including the new QBI deduction for pass-through entities, expanded first-year depreciation deductions for qualifying assets, favorable accounting method changes, and more. Here’s what you should know to file (or extend) with confidence this tax season.

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If Adopted, Overtime Pay Rules May Expand to More Employees

Newly proposed Department of Labor regulations, if finalized as written, will mean roughly 1.3 million workers who are currently treated as exempt will become eligible for overtime pay, beginning next year. Another provision sets a higher threshold for “highly compensated employee” status, potentially impacting another 200,000 workers. Here’s what it means.

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5 Last-Minute Ideas to Lower Your 2018 Taxes

Tax Day is right around the corner. Every year, thousands of people delay filing their taxes until the last minute or they file an extension. That’s especially true now, as taxpayers try to decipher what’s changed under the Tax Cuts and Jobs Act. Fortunately, there may be a few simple strategies that many individuals can still use to lower last year’s tax liability even though 2018 ended months ago.

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Update on Deducting Personal Casualty Losses

The rules for claiming disaster-related casualty losses to personal-use property have changed for 2018 through 2025 under the Tax Cuts and Jobs Act. As a result, taxpayers generally can’t deduct losses unless the casualty event qualifies as a federally declared disaster. Here’s what you need to know, including how to calculate casualty losses and possible safe-harbor methods for measuring losses.

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Tax Issues to Consider When Small Business Owners Get Divorced

If business owners file for divorce, tax issues can complicate matters. Though most assets can be transferred tax-free between soon-to-be-ex-spouses, there may be tax bills when those assets are eventually sold. So, it’s important to consider current and future tax obligations. Here’s how taxes factor into divorce settlements under today’s tax law, including the new treatment for alimony payments under post-2018 divorce agreements.

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Women in Business: Who’s the Boss?

More women serve as leaders in business and politics than ever before. But there are still gender-based gaps in terms of pay and opportunities, according to several recent surveys. Businesses that allow women to participate in management often reap significant benefits. If you’re a business owner or organization executive, here’s what you can do to promote women to leadership positions.

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Federal Investigators Find Labor Law Violations in Several Cases

The U.S. Department of Labor recently finished seven investigations and found employers had violated laws involving minimum wages, overtime, work visas and more. The cases serve as a warning to employers about the implications of not complying with labor laws. We’ll also tell you about how off-duty police officers providing private security services were found to be employees entitled to overtime.

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SIMPLE IRA vs. Solo 401(k): Which Is Right for Your Small Business?

Retirement plan options can be overwhelming for small business owners. Two popular alternatives SIMPLE IRAs and solo 401(k) plans may allow you to make larger annual deductible contributions than you could to a traditional defined contribution or profit-sharing plan. But they’re not right for everyone. Here’s what you need to know to help you save more money for retirement.

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I-9 Audits Are On the Rise: Be Prepared

Employers face growing hazards if they fail to comply with I-9 documentation. While this has always been an important topic, the federal government is stepping up its audits of how employers are handling I-9 forms. Don’t take compliance lightly. Can your practices stand up to a government audit? Here’s what you need to know to be prepared.

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Payment Card Fraud on the Rise Despite Use of Chip Technology

For in-store purchases made after October 2015, liability for credit card fraud shifted from credit card companies to merchants that weren’t chip-card enabled. However, a recent study found that criminals can still steal and clone chip-enabled payment cards in the United States. Here are the reasons, along with some ways merchants and credit card companies may be able to chip away at future losses.

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Is an HSA Right for You?

Health savings accounts (HSAs) allow people with high deductible health plans to pay for their medical expenses with pretax dollars. But some people are confused about how HSAs work. Here’s what you need to know to determine whether you qualify for these tax-advantaged accounts and, if so, how much you can (and should) contribute.

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