Insurance companies are licensed by the states, as are insurance brokers and insurance agents. Does the Federal Government Regulate Insurance? For the most part, no. The federal McCarran-Ferguson Act of 1945 delegated that authority to the states, exempting insurance companies and the majority of ...
But hey, depending on where you live, you might have to deal with federal, statelocal taxes . . . that’s a lot! If you’re feeling overwhelmed this tax season, work with one of our RamseyTrusted tax advisors who serves your area. That way, you can rest easy knowing you have aon ...
In addition to sectoral privacy laws, the U.S. is experiencing a massive drive toward pushing privacy legislation at the state level. That’s because the federal government hasn’t been able to find a consensus on how to legislate broadly. Rather than wait, state lawmakers have been nudged ...
and taxes payable. Trade payables refer to payments on goods or services, and non-trade payables refer to business expenses that don’t directly affect operations (e.g. utility bills). Taxes payable refer to the company’s federal, state, and local obligations. ...
Prime contractors should inventory their prime contracts and subcontracts to determine how the various parties to the agreements are paid and the impact of nonpayment from the federal government. Prime contractors should also be aware that statutory interest may be available for delayed pa...
Self-employed individuals such as independent contractors, freelancers, and small-business owners can set up SEP IRAs. A SEP IRA adheres to the same tax rules for withdrawals as a traditional IRA. For 2024, SEP IRA contributions are limited to 25% of compensation or $69,000, whichever is ...
If you are self-employed, it's likely you need to fill out an IRS Schedule C to report how much money you made or lost in your business. Freelancers, contractors, side-giggers and small business owners typically attach this profit or loss schedule to the
Businesses closely connected to the federal government, such as federal contractors or tourist services around national parks, could see disruptions and downturns. The travel sector could lose $140 million daily in a shutdown, according to the U.S. Travel Industry Associa...
New Jersey requires contractors to payprevailing wage ratesfor most municipal and state-financed construction projects. They also require contractors to pay federal prevailing wage rates for “building services” in state-owned or leased buildings. The penalties for not following the New Jersey prevailin...
Invoice numbers aren’t limited to sequential or chronological invoice numbering systems. Custom invoice numbers are entirely up to the business issuing the invoices. There are no federal laws or state financial regulations regarding what a company’s invoice numbering system must include. A company ...