Increases to Minimum Wage in New York
New York State increased minimum wage rates on December 31, 2015. Effective for 2016, New York State minimum wage is now $9 per hour, while tipped employees will now earn $7.50 per hour. Fast food employees, meanwhile, will earn $10.50 per hour in New York City and $9.75 per hour throughout the state.
For more information, click here.
Federal Tax Breaks Extended - Some Permanently
Congress approved and President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) on December 18, 2015, extending dozens of expired tax deductions, credits, and incentives. In addition, the PATH Act provides for additional tax rules on a host of topics.
Here are the most significant provisions.
Click on one of the following for additional updated information:
• S.A.L.T January 2016 Newsletter
• Client Line December 2015 Newsletter
To learn more about Sanders Thaler Viola & Katz, LLP, visit www.st-cpas.com.
