Nominate Now for Louisville’s Fast 50 Awards

Nominations are now being accepted for Louisville Business First’s 2017 Fast 50 Awards. The Fast 50 Awards programLouisville Business First's Fast 50 Logo recognizes privately-held companies in the Greater Louisville area that have experienced significant growth in revenue. Nominations can be submitted online until May 26th, and winners will be announced in October. Harding, Shymanski & Company, P.S.C. is proud to sponsor the awards that recognize some of the most dynamic companies in the Greater Louisville area.

Special Report: Administration’s 2017 Tax Reform Outline

The White House released President Trump’s “2017 Tax Reform for Economic Growth and American Jobs” last week. The outline calls for dramatic tax cuts and simplifications, including: lower individual tax rates under a three-bracket structure, doubling the standard deduction, and more than halving the corporate tax rate; along with changing the tax treatment of pass-throughs, expanding child and dependent incentives, and more.

Continue reading “Special Report: Administration’s 2017 Tax Reform Outline”

Louisville Metro Requires Rental Housing Registry

(Published on Louisvilleky.gov, January 2017)
Effective March 1, 2017, all property located in Louisville Metro and occupied or offered for occupancy in exchange for money or any other consideration must be registered with Louisville Metro Government. Failure to register is subject to a fine up to $100 per day per housing unit.

To learn more about this change click the link to an article posted on the City of Louisville’s website https://louisvilleky.gov/government/codes-regulations/rental-registry.

21st Century Cures Act: Impact on Health Reimbursement Arrangements for Small Employers

President Obama recently signed the 21st Century Cures Act into law. The new law allows qualified small employers to offer health reimbursement arrangements (HRAs) without facing penalties for non-compliance with the Affordable Care Act. Prior to the enactment of this law, an employer could only offer an HRA if they also offered coverage under a group health plan and met requirements of the Affordable Care Act.

In an HRA, an employer is able to reimburse health insurance premiums and certain other qualified medical expenses on a pre-tax basis for eligible employees. In circumstances where an employee is not covered under minimum essential health coverage, their reimbursements are considered taxable and included in gross income. Continue reading “21st Century Cures Act: Impact on Health Reimbursement Arrangements for Small Employers”

Judge blocks Overtime Final Rule

On November 22, 2016, U.S. District Court Judge Amos Mazzant granted an Emergency Motion for Preliminary Injunction and thereby enjoined the Department of Labor from implementing and enforcing the Overtime Final Rule on December 1, 2016.  The case was heard in the United States District Court, Eastern District of Texas, Sherman Division (State of Nevada ET AL v. United States Department of Labor ET AL No: 4:16-CV-00731). The rule updated the standard salary level and provided a method to keep the salary level current to better effectuate Congress’s intent to exempt bona fide white collar workers from overtime protections.

To learn more about this change click the link to an article posted on the Department of Labor’s website https://www.dol.gov/featured/overtime.