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Increase in Gasoline Prices Means Increase in Optional Standard Mileage Rates for 2022

Posted on December 17, 2021 by

The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2022, and the increased rates reflect the increase in the fixed and variable costs of operating a vehicle, primarily due to increased gas prices.  Effective January 1, 2022, […]

Pros and Cons of Using the No-Contest Clause

Posted on December 13, 2021 by

Drafting an estate plan allows a person to put into writing their wishes for division of assets upon death.  Sometimes this means making a choice to give more to one child over the other, or to completely write out natural heirs of law.  An uncle whose nephew is like a son to him may bypass […]

Nationwide Halt to Vaccine Mandate for Federal Contractors

Posted on December 8, 2021 by and

On Tuesday, December 7, a federal court in Georgia issued an order staying the vaccine mandate for federal contractors (“Mandate”). The Court ordered that the Defendants, which includes President Biden, are ENJOINED, during the pendency of this action or until further order of this Court, from enforcing the vaccine mandate for federal contractors and subcontractors […]

Federal Court Issues Nationwide Injunction Against Enforcement of the CMS Vaccination Mandate

Posted on December 1, 2021 by and

A couple of weeks ago we alerted you regarding the Centers for Medicare and Medicaid Services (CMS) COVID-19 vaccination mandates. Reports have emerged today that an injunction has been placed upon this CMS requirement nationwide which takes place immediately. This is the second Federal Court injunction that has been issued enjoining immediate enforcement of the […]

CMS Releases Key Medicare Figures for 2022

Posted on November 23, 2021 by and

The Centers for Medicare and Medicaid Services (“CMS”) recently released key Medicare figures for 2022 that will affect all elderly and disabled individuals who receive program benefits.  This notice summarizes the changes and their impact on various benefits. As is normally the case, Medicare deductibles and premiums have both increased and decreased for 2022.  Many […]

What is the Gift Tax and How Does it Work?

Posted on November 22, 2021 by

Last week, I provided a brief overview of the gift tax in a vlog.  You can view the vlog here.  In this blog post, I’ll expand on basic gift tax concepts, just in time to make your holiday gifts. What is the gift tax?  Basically, the gift tax is a tax imposed on the gratuitous […]

Breaking News! Sixth Circuit to Hear OSHA ETS Challenge

Posted on November 16, 2021 by and

On November 16, 2021, a panel on multidistrict litigation announced that a panel of three judges from the U.S. Court of Appeals for the Sixth Circuit will hear the OSHA ETS litigation. All petitions that have been filed will be consolidated to the Sixth Circuit in accordance with the Consolidation Order signed today. What does […]

Federal Appeals Court Halts OSHA ETS! What does this Mean for Employers?

Posted on November 8, 2021 by and

On November 6, 2021, the Fifth Circuit Court of Appeals temporarily halted OSHA’s latest ETS by issuing an order staying the ETS until the court can conduct a full review.  BST Holdings v. OSHA (5th Cir 11/06/2021). The order states: Before the court is the petitioners’ emergency motion to stay enforcement of the Occupational Safety […]

CMS Issues Interim Final Rules with Comment Period Mandating Vaccination of Staff of CMS Regulated Providers/Suppliers

Posted on November 5, 2021 by

On November 4, 2021, the Centers for Medicare & Medicaid Services (“CMS”) issued Interim Final Rules requiring many of its regulated providers and suppliers to require staff and employees to meet COVID-19 vaccination requirements.  CMS chose to mandate vaccination by revising Conditions of Participations, requirements that providers and suppliers must meet to maintain certification to […]

2022 Qualified Plan Cost of Living Increases, 2022 Social Security Taxable Wage Base

Posted on November 4, 2021 by

On November 4, 2021 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. The vast majority of the limits shown below have increased from last year.   Qualified Plan Limit Cost-of-Living Adjustments 401(k) and 403(b) elective deferral limit 2021 – $19,500 2022 – $20,500 $200,000 compensation limit 2021 – […]