Thomas&Libowitz a professional association

25 South Charles Street, Suite 2015 Baltimore, Maryland 21201 410.752.2468

Archive for December, 2020

U.S. Department of Labor Updates Tip Regulations under the FLSA

Wednesday, December 30th, 2020

This week, the U.S. Department of Labor (DOL) published a final rule altering its regulations concerning tipped employees. If your business falls in an industry where tipping is customary, you will want to be acquainted with this change. By way… Read More

PPP Loans and Tax Deductibility of Expenses.

Tuesday, December 22nd, 2020

Pending congressional legislation (the Consolidated Appropriations Act, 2021) would make expenses paid with forgiven PPP loans tax deductible. Although it was always clear that forgiveness of a PPP loan would not be treated as taxable income, the IRS has taken… Read More