Tag Archive: "Transportation"
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Supreme Court Denies Review of California Assembly Bill 5
At the end of June the Supreme Court denied the review of California Assembly Bill 5 (AB5) and returned the case to the 9th U.S. Circuit Court of Appeals. A ruling by the 9th Circuit had previously overturned a lower court’s injunction that had kept AB5 from applying to the transportation industry. Despite overturning the […]
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Will a Fuel Tax Holiday Provide Relief?
President Biden recently called for a fuel tax holiday to help reduce the costs at the pump. Will it help? Sure, a little bit. A little bit are the key words. The President is pushing for a three-month holiday that would remove the federal fuel tax. Currently, the federal tax is 18 cents per gallon […]
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The Year of Early Planning
Proposed tax legislation may not be moving quickly, but that doesn’t mean there isn’t significant changes that warrant early planning for 2022.
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Is a Strong Balance Sheet a Risk to Your Business?
As part of the continued web series, “In the Hot Seat with Tenney Group”, I was invited to discuss a variety of issues around the risks of a strong balance sheet and the value of Quality of Earnings engagements, all with a focus around insight and perspective to transportation business owners. Please check out our […]
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Consider Your Leverage
For asset-based carriers trucking is usually a high leverage business. It involves constant equipment trade cycles that often requires financing to be able to afford the costs or protect cash reserves. With inflation and technological improvements, we have seen equipment costs rise and expect that trend to continue. Why do I mention this? Because interest […]
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Could the Events in Ukraine Impact Your Business?
Cybersecurity protection has become about as important as hazard insurance to protect your buildings and property. While cyber attacks may not be the first thing you think about when you think of the conflict in Ukraine, it should absolutely be something to consider when you think about how events there could impact your business. Ask […]
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Compensation, Accountable Plans and Per Diem
Authored by Thomas Schultz, PHR, SHRM-CP; Human Resources Consultant Organizations are seeing compensation pressure today more than ever. As a result, some are looking at compensation that comes from employee reimbursements. When employees pay for allowed, work-related expenses, organizations generally reimburse those expenditures. The amount reimbursed, can be taxable if it is not aligned with […]
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Solutions for your Workforce Challenges
Throughout the COVID-19 pandemic, small- and mid-market companies faced increased financial and operational concerns that have ranged from liquidity needs, compliance, and debt obligations to loss of production and supply chain disruption. However, when addressing workforce concerns, organizations that offer their employees the following have consistently emerged as better prepared to weather the uncertainty of […]
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Further Guidance on Per Diem Deductibility
Back in November we posted about guidance under IRS Notice 2021-63 allowing for the temporary 100% deduction for the meals portion of the special per diem rate for motor carriers with drivers who are subject to the hours of service rules. Sometimes, guidance can create more confusion and questions than clarity. Under Notice 2021-63 it […]
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Schedules K-2 and K-3 — What Transportation Companies Need to Know
The IRS has released final versions of two new international-related tax filing schedules that are being added to passthrough entity returns (including Forms 1065, 8865, and 1120-S). Many people may, at first glance, may be lead to believe that K-2 and K-2 reporting matters are primarily a global tax issue; however, nearly every pass-through entity […]