2019 Business & Tax Seminar Video

North Carolina Adopts New Changes to Contractor Income Tax Withholding Rules

Senate Bill 523 (July 26, 2019) made significant amendments to N.C.G.S. 105-163.3, which requires that any payer paying more than $1,500 in a calendar year to an ITIN contractor to withhold 4% of income tax on the compensation being paid to the ITIN contractor.  Under the amended N.C.G.S 105-163.3, effective January 1, 2020, a payer must deduct and withhold 4% NC income tax from nonwage compensation paid to a "payee" if the payer expects to pay more than $1,500 to the payee in that calendar yea ...
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Salary Overtime Threshold to Increase in 2020

On January 1, 2020, the salary threshold for “white collar” exemption from overtime will increase to $684 per week ($35,568 annualized). In order to qualify for the “white collar” exemption from overtime (available for certain executive, administrative, and professional employees), the employee must meet both a “duties” test and be paid on a “salary” basis.  Under Department of Labor rules, being paid on a “salary basis” means an employee must regularly receive a predet ...
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Three Carruthers & Roth Attorneys Named “Lawyer of the Year” by Best Lawyers® 2020

Greensboro, N.C. - Carruthers & Roth, P.A. announced today that three of the firm’s attorneys have been named Best Lawyers® 2020 “Lawyer of the Year” in their respective practice areas in Greensboro. Only a single lawyer in each practice area and designated metropolitan area is honored as the "Lawyer of the Year," making this accolade particularly significant. Carruthers & Roth attorneys recognized as 2020 Best Lawyers "Lawyer of the Year" are: June L. Basden - 2020 Gr ...
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Sixteen Carruthers & Roth Attorneys Named to 2020 Best Lawyers® List

Greensboro, N.C. - Carruthers & Roth, P.A. is pleased to announce that 16 of the firm’s attorneys representing 25 practice areas have been named to the 2020 Edition of The Best Lawyers in America©, the oldest and most respected peer-review publication in the legal profession. In addition, three Carruthers & Roth attorneys were named as Best Lawyers 2020 “Lawyer of the Year” in their respective practice areas. The publication awards this honor to a single lawyer in each practi ...
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2019 Business & Tax Seminar (December 4, 2019)

Carruthers & Roth’s annual Business & Tax Seminar will be held on Wednesday, December 4, 2019 at the Greensboro Marriott Downtown. This full-day seminar, designed for CPAs, accounting and tax professionals, will focus on key issues, policies and requirements related to their profession.  Attendees can earn up to 8 CPE credits in Accounting, Taxes and Business Law fields of study. Please click on the following link for more information and to register online: 2019 Business &am ...
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IRS Ramps Up Effort to Collect Employer Shared Responsibility Payments

The IRS has recently started sending letters to businesses asserting tax penalties under the Affordable Care Act (ACA), also known as "Obamacare". These letters advise that the business owes an Employer Shared Responsibility Payment (ESRP) penalty as a result of failing to comply with certain provisions of the ACA. Under the ACA, all employers with 50 or more full-time employees are required to offer health insurance coverage that is affordable and provides minimal essential coverage to at le ...
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