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Here are your articles for May 26, 2016.
Congratulations are in store for a few of the employees here at CDL!

Congratulations to Gary Mann for passing all 4 parts of the CPA Exam and to Victoria Rizzuto for receiving her Restaurant Accounting Specialist Certificate!

CDL encourages its employees to further their education tohelp develop and advance their careers.




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Raising the federal minimum wage has become a hot topic on the presidential campaign trail. Proposals are flying as candidates try to gain support for their ideas. But, in reality, what's happening at the state and local level may be more important to your business today. Here's an update on the latest changes, plus information about the proposal to change the overtime rules.



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The new tax law has finally passed and the changes generally kick in in 2018. President Trump and Republican members of Congress say it will bring $3.2 trillion in tax cuts. But some individual taxpayers are skeptical. Everyone's situation is unique and not everyone will come out ahead. This article provides an example of how it might affect your taxes in 2018, if you're still eligible to itemize deductions.


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Submitting expense reports can be tedious and time-consuming for employees who travel. While on the road, they must collect paper receipts and record the details of business meals. Fortunately, the IRS offers simplified methods for reimbursing employees' travel costs that involve the use of travel per-diem and "high-low" rates based on location. Here's an explanation of how these methods work, as well as a summary of the changes that go into effect starting on October 1, 2017.


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Starting December 1, new overtime rules kick in that will make millions more employees qualify for overtime pay. The changes include a dramatically higher pay threshold that determines whether workers are eligible for overtime at a rate of at least one and one-half times their regular pay. With a few months of lead time, employers need to take a look at their operations and decide how to incorporate the changes. This article explains.
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The cost of the average U.S. wedding has grown more than $5,500 over the past five years. Before you or a loved one ties the knot, it's important to establish budget guidelines and discuss other financial and legal issues upfront, especially for people who've been married before. Here are the latest weddings trends, including who's paying for the wedding and how much it's likely to cost.
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Private companies aren't required to perform fraud risk assessments but they should conduct them anyway. A financial expert can help you spot vulnerabilities, such as inadequate segregation of accounting duties or insufficient oversight of inventory, before an employee gets a chance to exploit them. This article discusses the issue.
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If you own real estate for investment purposes, you may be ready to stop managing the properties. You may also want your heirs to avoid the probate process after you die. And, of course, you want to save on taxes. One option that might allow you to achieve your goals is to transfer the property to a trust. This article discusses the process.
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Remember the Aesop's Fable about the ants and the grasshopper? While the ants actively stockpile food, the grasshopper parties the summer away and starves in winter. In terms of retirement savings, are you an ant or a grasshopper? A Federal Reserve survey found that many Americans aren't saving for retirement. Here are some planning tips, as well as some surprising statistics on U.S. household finances.
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Our firm provides the information in this e-newsletter for general guidance only and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, expressed or implied, including but not limited to warranties of performance, merchantability and fitness for a particular purpose.


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