Resources

GREENSBORO, N.C. – Carruthers & Roth, P.A. is proud to welcome back Kevin A. Rust to the firm’s litigation team as a director. Kevin’s practice will focus on business, appellate, and construction litigation. Kevin previously worked for Carruthers & Roth from 2008 to 2011 as a litigation associate who handled disputes related to business and construction projects. After leaving the firm in 2011, he spent several years in private practice in Raleigh and has since then served as in ...
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Retirement plan accounts, like 401(k)s and IRAs, are becoming an increasingly larger portion of many estates, especially since funds have the potential to accumulate in a tax-deferred manner for many years. The tax-deferral attributes of retirement accounts, however, have resulted in specific rules that impact how these accounts are treated after death. Given that distributions from inherited retirement accounts are taxable as part of a beneficiary's ordinary income, Congress has instituted r ...
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Greensboro, NC - Carruthers & Roth’s Kenneth (Kenny) Greene was recently honored as the recipient of the Lifetime Achievement Award from the Bankruptcy Section of the North Carolina Bar Association (NCBA). The Lifetime Achievement Award recognizes a bankruptcy practitioner who, for not less than 25 years, has contributed to the betterment of the NCBA Bankruptcy Section and the profession, and who has set an aspiring example for those who follow. Greene is the ninth recipient of the awar ...
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Step up to the Plate Income Tax Basis Planning on a (Relatively) New Playing Field (PDF)

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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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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