Employee Reimbursement Effective January 1, 2019, an employer shall reimburse employees for any necessary expenditures or losses incurred by employees within the employee’s scope of employment and directly related to services performed for the employer. Employees must provide “appropriate supporting documentation” within 30 calendar days after incurring the expense. The appropriate supporting documents are loosely […]
Read more...Month: February 2019
Eligibility of Farm Landlords for 199A Deduction
One of the most significant aspects of the Tax Cuts and Jobs Act passed late last year was the addition of the Section 199A deduction that provides a 20% deduction on “qualified business income.” Our Summer/Fall 2018 issue contained an overview of the deduction. Recently, the IRS has provided guidance on whether farm rent income […]
Read more...Illinois Law Update
Illinois has enacted several new laws of significance taking effect with the new year: Firearms Restraining Order Act: A law enforcement officer or a family member (defined to also include an unrelated person living in the same household) may now petition the court to have a person’s firearm removed from his or her possession and […]
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