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Charitable Giving with Trusts, Foundations and Donor-Advised Funds
Recent federal tax law changes pertaining to itemized deductions have caused many people to rethink how they make charitable gifts. With the increased standard deduction, far fewer taxpayers will itemize, which means that small charitable contributions may not create the tax benefit the donor anticipated. At the same time, many… Continue
OK Boomer – Not OK in the Workplace
The phrase “ok boomer” is seen by many as the retort of Millennials and Gen Z to dismissive older generations in all sorts of disagreements from climate change to gender identity to musical tastes. In essence, this retort implies “you’re too old to get it.” While the phrase may be… Continue
Rental Real Estate and the Qualified Business Income Tax Deduction
The Tax Cuts and Job Act established the qualified business income (QBI) tax deduction in section 199A of the Internal Revenue Code. Congress enacted section 199A to provide a deduction to non-corporate taxpayers of up to 20 percent of the taxpayer’s qualified business income from a qualified trade or business,… Continue
New Rule: Overtime Exemption
The Department of Labor (DOL) has issued its final rule regarding the overtime exemption for salaried employees. For an employee to be considered exempt from overtime, an employee must meet the duties test (executive, administrative, professional) and must make a minimum salary. If an employee does not pass the duties… Continue
Trademark Genericide – How Bad Grammar Kills a Brand
Businesses invest greatly in brands to catch and keep consumer attention. Some brands have become regular parts of our language – so instead of adjectives, they are nouns. Think fast: do you say Q-Tip cotton swab or just Q-tip? Frisbee flying disc or just Frisbee? Vaseline petroleum jelly or just… Continue
GKH Named Lancaster’s Favorite Law Firm
For five out of the last six years, Gibbel Kraybill & Hess LLP has been voted Lancaster’s favorite law firm in the LNP Readers’ Choice Awards. GKH is grateful for this unique honor. It has been our privilege to serve the people and businesses of our community since 1977. By… Continue
Taxing Workers in the Gig Economy
Participation in the gig economy has grown steadily in recent years, facilitated in part by popular online and app services such as Uber, Lyft, AirBnB, VRBO, and TaskRabbit, as well as selling platforms available through Amazon, eBay, and Etsy. A recent survey by Upwork suggests that more than 56 million… Continue
Is Your Business in Compliance with New Sales Tax Laws?
Nearly every state imposes a sales tax on the purchase of certain goods and services. It is the seller’s responsibility to collect the tax and remit the proceeds to the state taxing authority. If the seller does not collect the tax, as is often the case when a purchase is… Continue
Pennsylvania Expands Anatomical Gift Law
According to the U.S. Department of Health & Human Services, there are more than 125,000 people across the country on waiting lists for anatomical gifts, including more than 7,000 in Pennsylvania alone. In an effort to reduce these numbers, Pennsylvania recently passed the Donate Life PA Act (DLPA). The DLPA… Continue
Recordkeeping for Donations to Charity
One of the requirements for claiming a tax deduction for a contribution to a charitable organization is that you have to be able to prove it. The rationale is clear, but the rules for compliance are very detailed and the cost of running afoul of them can be substantial. For… Continue