Companys Employees – Obitel Kiev http://obitel.kiev.ua/ Just another WordPress site Tue, 19 Oct 2021 01:28:53 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://obitel.kiev.ua/wp-content/uploads/2021/07/icon-2-150x150.png Companys Employees – Obitel Kiev http://obitel.kiev.ua/ 32 32 Why public health is in crisis: threats, departures, new laws https://obitel.kiev.ua/why-public-health-is-in-crisis-threats-departures-new-laws/ https://obitel.kiev.ua/why-public-health-is-in-crisis-threats-departures-new-laws/#respond Tue, 19 Oct 2021 00:26:00 +0000 https://obitel.kiev.ua/why-public-health-is-in-crisis-threats-departures-new-laws/ Many, especially in conservative circles, have increasingly embraced individual rights over collective responsibilities, a trend that Dr. Rosner says undermines the notion of a social contract in which people work together to achieve a greater good. “It’s a depressing time,” he said. “What makes a society if you can’t even come together to keep your […]]]>

Many, especially in conservative circles, have increasingly embraced individual rights over collective responsibilities, a trend that Dr. Rosner says undermines the notion of a social contract in which people work together to achieve a greater good.

“It’s a depressing time,” he said. “What makes a society if you can’t even come together to keep your people healthy?” “

During the pandemic, the federal government made tens of billions of dollars available to bolster testing, contact tracing and vaccinations.

In May, the Biden administration announced it would invest an additional $ 7.4 billion from the Covid-19 stimulus package to train and recruit public health workers.

But while health officials have described the money as essential to help them build teams quickly after years of budget cuts, many of those new hires were temporary workers and much of the spending went to urgent needs such as tests and vaccinations. New funding is often funneled through state or grant programs with conditions, such as a short time frame to spend money or time-consuming requirements for state or county approvals. Some departments have said they have had to lay off employees at inconvenient times over the past year because grants were strapped for cash.

And the funding is not permanent. Many local health officials have said they expect the extra money to run out over the next two to three years. They compared the Covid-19 funds to the money that poured into health services after the 9/11 attacks, but then disappeared when political priorities shifted.

Dozens of departments have said that in order to prepare for further outbreaks or a future pandemic, they really need a higher baseline of qualified permanent employees. Instead, they bought equipment or, more frequently, hired temporary staff, knowing they would have to let them go when the money ran out.

A Berrien County, Michigan health official said it was taking so long to get county approval to hire temporary staff in the fall of 2020 that when his department received more funding later, she instead focused on faster purchases, like software. When the virus spread, she had to remove existing employees from their regular jobs.


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John Deere Farmers and Suppliers Worried About Strike Impact | Chicago News https://obitel.kiev.ua/john-deere-farmers-and-suppliers-worried-about-strike-impact-chicago-news/ https://obitel.kiev.ua/john-deere-farmers-and-suppliers-worried-about-strike-impact-chicago-news/#respond Sun, 17 Oct 2021 19:58:08 +0000 https://obitel.kiev.ua/john-deere-farmers-and-suppliers-worried-about-strike-impact-chicago-news/ John Deere Dubuque Works employee Steve Thor picnic outside UAW Local 94 in Dubuque, Iowa on Thursday, October 14, 2021 (Jessica Reilly / Telegraph Herald via AP) Farmers and suppliers to Deere & Co. are worried about what the strike at the tractor-maker’s factories will mean for their livelihoods. More than 10,000 Deere workers went […]]]>

John Deere Dubuque Works employee Steve Thor picnic outside UAW Local 94 in Dubuque, Iowa on Thursday, October 14, 2021 (Jessica Reilly / Telegraph Herald via AP)

Farmers and suppliers to Deere & Co. are worried about what the strike at the tractor-maker’s factories will mean for their livelihoods.

More than 10,000 Deere workers went on strike last week at 14 Deere factories in Illinois, Iowa, Kansas, Colorado and Georgia after the United Auto Workers union rejected a contract offer. The longer the strike continues, the greater the impact will be on the communities around the factories.

“If this settles in a few days, so much the better,” Brian Jones, who operates a farm in central Iowa, told the Des Moines Register. “But if this goes on for weeks, you start to worry a bit about things.”

Lance Lillibridge, who operates a farm in eastern Iowa near Cedar Rapids, said he was concerned he would run out of parts if his John Deere combine failed.

“We have a lot of big equipment here that we use to harvest, and if one part fails that we can’t get, we’re done,” said Lillibridge, who is also president of Iowa. Council of the Association of Corn Producers.

Burk “Skeet” Miehe of American Pattern & CNC Works in Cedar Falls, Iowa, said her business was doing well initially because she was working ahead to fulfill orders from Deere.

“If it lasts longer, it could affect us,” Miehe told the Waterloo-Cedar Falls Courier.

Casting Cleaning Inc. in Cedar Falls, which does chipping and grinding of foundry castings for John Deere, was closed on Friday due to lack of work, but company president Shannon Closson said that it should reopen on Monday.

“In the long run, (the strike) would be very damaging to our business. In the short term, we’ll be able to pick up some power and get through it, ”said Closson.

At John Deere Sloan Implement equipment dealership in Fulton, Ill., Store manager Eric Maloney said the company was doing its best to handle the strike, as well as the supply chain issues associated with it. the coronavirus pandemic. The dealership relied more than usual on repairing parts instead of replacing them.

“We will continue to move forward as best we can,” said Maloney.



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Applications accepted to find the best employers in the Richmond area | Economic news https://obitel.kiev.ua/applications-accepted-to-find-the-best-employers-in-the-richmond-area-economic-news/ https://obitel.kiev.ua/applications-accepted-to-find-the-best-employers-in-the-richmond-area-economic-news/#respond Sat, 16 Oct 2021 13:15:00 +0000 https://obitel.kiev.ua/applications-accepted-to-find-the-best-employers-in-the-richmond-area-economic-news/ Pinnacle Living, the Henrico County senior housing provider with two residential communities in the Richmond area, was the top-ranked company in the broad category. Napier ERA, the Chesterfield County-based residential real estate brokerage firm with four locations in the area, was the first firm in the mid-size category. And Starling International Child Care & Learning […]]]>

Pinnacle Living, the Henrico County senior housing provider with two residential communities in the Richmond area, was the top-ranked company in the broad category. Napier ERA, the Chesterfield County-based residential real estate brokerage firm with four locations in the area, was the first firm in the mid-size category. And Starling International Child Care & Learning Complex, a private daycare and learning center founded in 1995, ranked first in the small category.

Of the 81 companies, nine have been recognized each year since the program launched eight years ago. Two employers were on the list for seven consecutive years, three companies were included for six consecutive years, four companies for five consecutive years and seven workplaces for four consecutive years.

The Times-Dispatch will honor Top Workplaces 2022 companies with an awards program in late spring. Employers will also be recognized in a special Top Workplaces section.

Employers will be recognized according to the size of the company: mega (over 900 employees); large (400-899); medium height (125 to 399); and small (124 or less).

Workplaces are assessed by their employees using a short survey of 24 questions.

Last fall, Energage invited 902 employers from the region to participate, and 117 organizations agreed to do so. These companies employ around 29,500 people locally.


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Walmart CRT Training Encourages Employees To Accept “White Isn’t Fair” https://obitel.kiev.ua/walmart-crt-training-encourages-employees-to-accept-white-isnt-fair/ https://obitel.kiev.ua/walmart-crt-training-encourages-employees-to-accept-white-isnt-fair/#respond Fri, 15 Oct 2021 01:18:45 +0000 https://obitel.kiev.ua/walmart-crt-training-encourages-employees-to-accept-white-isnt-fair/ Walmart has put more than 1,000 employees in a critical race theory a background that teaches that the United States is a “white supremacist system” and that white interns are guilty of “white supremacist thinking” and “internalized racial superiority,” according to a new report. Disclosure documents obtained by City newspaper‘s Christopher Rufo reveals that Walmart […]]]>

Walmart has put more than 1,000 employees in a critical race theory a background that teaches that the United States is a “white supremacist system” and that white interns are guilty of “white supremacist thinking” and “internalized racial superiority,” according to a new report.

Disclosure documents obtained by City newspapers Christopher Rufo reveals that Walmart first launched the program, based on the fundamentals of Critical Race Theory, in 2018 in partnership with the Racial Equity Institute.

The company has made the program mandatory for executives, while it is recommended for hourly workers. Rufo denounces Walmart for its hypocrisy, noting that all of its nine senior executives, except for chief technology officer Suresh Kumar, are white.

Walmart confirmed to Rufo that it has “hired REI for a number of training sessions since 2018” and that it “found these sessions stimulating and constructive.”

The party claims the United States is a “white supremacist system,” created by white Europeans “for the purpose of attributing and maintaining white skin’s access to power and privilege,” according to the report.

The program suggests that whites are guilty of “white privilege” and “internalized racial superiority,” the belief that “his comforts, wealth, privileges and success have been won by merit and hard work” rather than by the benefits of systemic racism. The formation claims that the The “culture of white supremacy” is defined by several qualities, including “individualism”, “objectivity”, “paternalism”, “defense”, “hoarding of power”, the “right to comfort” and the “cult of writing”.

He adds that “discussions on racist conditioning” should take place in racially segregated groups because “people of color and white people have their own jobs to do to understand and combat racism,” the report notes.

According to the training, employees belonging to racial minorities suffer from “constructed racist oppression” and “internalized racial inferiority” and struggle with internal messages such as “we think there is something wrong with it. being a person of color “,” we have lowered self-esteem “,” we have lowered expectations “,” we have very limited choices “and” we have a feeling of limited possibility “.

This harmful internal thought forces them to adhere to “myths promoted by the racist system”, according to the training, and to develop feelings of “self-hatred “,” anger “,” rage “and” ethnocentrism “, and they are forced to” forget “,” lie “and” stop feeling “in order to survive.

The program suggests that the solution is for whites to work on “white anti-racist development” and accept their “guilt and shame” and that “whites are not right”. Ultimately, they should be working towards “collective action” where “white people can do good”.

More National Review


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Netflix trans staff and allies plan walkout – The Hollywood Reporter https://obitel.kiev.ua/netflix-trans-staff-and-allies-plan-walkout-the-hollywood-reporter/ https://obitel.kiev.ua/netflix-trans-staff-and-allies-plan-walkout-the-hollywood-reporter/#respond Thu, 14 Oct 2021 01:18:45 +0000 https://obitel.kiev.ua/netflix-trans-staff-and-allies-plan-walkout-the-hollywood-reporter/ At least a thousand Netflix employees are expected to participate in a virtual walkout to protest recent comments by Netflix co-CEO Ted Sarandos in support of Dave Chappelle’s special, The closest, according to a current staff member who spoke with The Hollywood reporter. As first reported by The edge, Netflix’s trans staff and allies plan […]]]>

At least a thousand Netflix employees are expected to participate in a virtual walkout to protest recent comments by Netflix co-CEO Ted Sarandos in support of Dave Chappelle’s special, The closest, according to a current staff member who spoke with The Hollywood reporter.

As first reported by The edge, Netflix’s trans staff and allies plan to hold the virtual walkout on Wednesday, October 20, after Sarandos sent two staff memos – one on October 8 and another to all Netflix staff on Monday – stating that the company wouldn’t remove the special, in which Chappelle pokes fun at gender identities and defends JK Rowling’s transphobic remarks, among other comments.

In the second memo, sent on Monday, Sarandos argued that “on-screen content does not directly translate into real-world damage,” according to a copy reviewed by THR.

“The strongest evidence to support this is that screen violence has increased dramatically over the past three decades, especially with first-party shooters, and yet violent crime has declined dramatically in many countries.” , wrote Sarandos in the memo, which was first reported by Variety. “Adults can watch violence, assault and abuse – or enjoy shocking stand-up comedy – without it causing them harm to others.”

Current Netflix employee Said Sarandos’ memos were largely the impetus behind the walkout, organized by employee resource group Trans * to the streamer but which received support from several allies at the company. During the walkout, participating staff members will not do any work to stream it and instead focus on donating to charities and encouraging others to engage in content that supports the trans community, according to the staff member.

“The note was very disrespectful” said the staff member, who requested anonymity to speak candidly about the matter.It didn’t invite a solid conversation on this difficult topic, and that’s normally the way it is.

In a press release sent to THR Earlier Wednesday, a Netflix spokesperson said the company supports the “artistic expression” of creators while encouraging “employees to openly disagree.”

Dave Chappelle’s specials are consistently the most watched comedy specials on Netflix and have won numerous awards including an Emmy and a Grammy for Sticks and stones,“said the spokesperson. “We support the artistic expression of our creators. We also encourage our employees to openly disagree.

Netflix refused to share audience data for The closest.

Earlier this week, three Netflix staff were suspended for attending an executive meeting to denounce the Chappelle special. The trio, which included a Netflix engineer who is trans, were later reinstated after a public reaction to Netflix’s response.

October 13, 6:00 p.m .: Updated with comments from the Netflix employee and Ted Sarandos’ second memo to staff.


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COVID Vaccines: When is an employee’s immunization status protected by HIPAA? | McAfee and Taft https://obitel.kiev.ua/covid-vaccines-when-is-an-employees-immunization-status-protected-by-hipaa-mcafee-and-taft/ https://obitel.kiev.ua/covid-vaccines-when-is-an-employees-immunization-status-protected-by-hipaa-mcafee-and-taft/#respond Tue, 12 Oct 2021 20:15:57 +0000 https://obitel.kiev.ua/covid-vaccines-when-is-an-employees-immunization-status-protected-by-hipaa-mcafee-and-taft/ The question of whether an employee’s immunization status is HIPAA protected has been (or should be) on the minds of all human resources staff lately. This is especially true in the wake of the impending rule by the US Department of Labor’s Occupational Safety and Health Administration (OSHA) that will likely require employers with more […]]]>

The question of whether an employee’s immunization status is HIPAA protected has been (or should be) on the minds of all human resources staff lately. This is especially true in the wake of the impending rule by the US Department of Labor’s Occupational Safety and Health Administration (OSHA) that will likely require employers with more than 100 employees to ensure that their workforce is either vaccinated or regularly tested. Until the OSHA rule is finalized and published, employers should ensure they are familiar with the application of the confidentiality rule to vaccination status by asking questions such as:

  1. Does the HIPAA privacy rule prohibit businesses or individuals from asking their customers if they’ve been vaccinated?
  2. Does the HIPAA privacy rule prohibit an employer from requiring a staff member to disclose if they have received a COVID-19 vaccine to the employer, customers or other parties?

Fortunately, the Department of Health and Human Services (HHS) recently addressed these and other frequently asked questions in new guidelines. Below is a quick reminder of the HIPAA privacy rule, along with the HHS ‘answer to these common questions.

Reminder of confidentiality rules

The HIPAA privacy rule generally applies to information classified as Protected Health Information (PHI). PHI includes almost all health information that identifies an individual – typically, information relating to an individual’s past, present, or future physical or mental health status, the provision of health care to an individual, or payments for health care. PHIs can include not only traditional health information, but even names, addresses, ages, etc. when connected to health information.

However, not all health care information constitutes PHI. PHI generally only includes health information that is created, received, maintained or transmitted by a covered entity or business associate. This therefore raises the question: which entities are covered entities? Health plans are generally covered entities. HIPAA defines this broadly to include any individual or group plan that pays the cost of medical care. Thus, when in the hands of a covered entity, an individual’s immunization status will likely constitute an RPS and be protected under the rule of confidentiality.

It is important to note that HIPAA specifically excludes PHI information held by the employer in its employment records. An employer sponsoring a group health plan usually wears two different hats – they have different responsibilities when acting as an employer and when acting as a covered entity i.e. the plan health.

While some information may not be PHI and HIPAA protected, employers should also consider whether state law provides for a stricter rule. While state laws are no less restrictive than HIPAA requirements, they may provide additional restrictions.

HHS answers our common questions

Based on these ground rules, HHS has answered these common questions for employers:

1. Does the HIPAA privacy rule prohibit businesses or individuals from asking their customers if they have been vaccinated?

No. The HHS has clarified that the privacy rule does not prohibit anyone from simply asking another if they are vaccinated. When a business asks its customers if they are vaccinated, the business is probably not acting as a covered entity i.e. the health plan. When the employer is not acting as a health insurance plan, the rule of confidentiality does not generally apply.

In addition, the confidentiality rule does not prohibit covered entities from simply requesting health information. Instead, the rule of confidentiality concerns the way in which covered entities use and disclose the PSR in their possession. HHS gave a few examples. The confidentiality rule does not apply when an individual:

  • is asked about their immunization status by a school, employer, store, restaurant, entertainment venue or other person;
  • ask another person, their doctor or a service provider if they are vaccinated;
  • asks a business, such as a home care agency, if its employees are vaccinated.

Nor do the rules of confidentiality prohibit a person from disclosing their own immunization status. HIPAA of course allows a person to disclose their own health condition as they wish. When an individual discusses their own health information, they are probably not acting as a covered entity or as a business associate.

2. Does the HIPAA privacy rule prohibit an employer from requiring a staff member to disclose if they have received a COVID-19 vaccine to the employer, customers, or other parties?

No. Remember that the rule of confidentiality does not apply to information held by the employer in its employment records, unlike information held by the health insurance plan. The confidentiality rule does not prohibit an employer from requesting an employee’s immunization status as part of the terms of employment. HHS also gave some examples here. The confidentiality rule does not prohibit a covered entity or a business associate from requiring or asking each staff member to:

  • provide documentation of their COVID-19 or influenza vaccination to their current or potential employer;
  • sign a HIPAA authorization for a covered healthcare provider to disclose the staff member’s COVID-19 or chickenpox vaccination record to their employer;
  • wearing a mask – on the employer’s premises, on the employer’s property or in the normal course of carrying out his duties at another location;
  • disclose if they have received a COVID-19 vaccine in response to questions from current or potential patients.

While these examples are generally allowed under the rule of confidentiality, employers should be aware that other federal or state laws may also come into play when they require employees to be vaccinated as a condition of employment and how to do so. employers must process this information. For example, documentation of an employee’s immunization status should be kept confidential and kept separate from other employee personal records in accordance with the Americans with Disabilities Act.


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U.S. food workers go on strike https://obitel.kiev.ua/u-s-food-workers-go-on-strike/ https://obitel.kiev.ua/u-s-food-workers-go-on-strike/#respond Sun, 10 Oct 2021 07:43:17 +0000 https://obitel.kiev.ua/u-s-food-workers-go-on-strike/ OMAHA, Neb. – A summer of social unrest among U.S. food manufacturers has dragged on into the fall, as workers tired by the pandemic continue to strike for better wages. About 1,400 workers at Kellogg Co.’s US grain plants left work last week, saying negotiations with the company over wages and benefits have stalled. Meanwhile, […]]]>

OMAHA, Neb. – A summer of social unrest among U.S. food manufacturers has dragged on into the fall, as workers tired by the pandemic continue to strike for better wages.

About 1,400 workers at Kellogg Co.’s US grain plants left work last week, saying negotiations with the company over wages and benefits have stalled. Meanwhile, in Kentucky, a strike of 420 workers against Heaven Hill Distillery is in its fifth week.

The actions come in addition to strikes carried out earlier this summer by 600 workers at one Frito-Lay plant in Topeka, Kansas, and 1,000 workers at five Nabisco plants in the United States. In June, Smithfield Foods narrowly avoided a strike by thousands of workers at a factory in Sioux Falls, SD

The number of shares is unusual. Kellogg says this is the first time its U.S. grain workers have gone on strike since 1972. Nabisco workers last quit their jobs in 1969.

But after a difficult 18 months, during which many workers worked 12-hour shifts and mandatory overtime to meet pandemic demand, employees are not in the mood to compromise.

“We’re drawing a line in the sand,” said Rob Long, a production mechanic who worked at the Kellogg plant in Omaha for 11 years.

Kellogg workers are also on strike in Michigan, Pennsylvania and Tennessee.

Long said he and others were unhappy with a two-tier employee system that offered fewer benefits and less pay to new workers, creating a rift in the ranks. Long said the company wanted to get rid of a provision that currently caps the lower level of workers at 30% of the workforce.

After decades of watching companies cut wages and benefits, food workers feel they have a rare advantage in the wake of the pandemic, said Patricia Campos-Medina, executive director of the Worker Institute of the ‘Cornell University, ILR School.

Labor shortages mean companies cannot easily find replacements for food production workers, she said. The pandemic has brought to light the essential – and sometimes dangerous – nature of their work.

“Workers in general demand that companies invest more in the workforce and not just use the profits for shareholders,” she said.

Campos-Medina said the trend is not just happening with unionized workers like those at Kellogg, who are members of the Bakeries, Confectionery, Tobacco and Millers Union.

Unorganized fast food workers have quit their jobs in dozens of American cities in search of a minimum wage of $ 15. Workers at three Starbucks stores in Buffalo, New York, are trying to organize.

The strikes come as food companies are still trying to get back to normal production levels.

Kellogg’s cereal sales had been sluggish for years, for example, as families turned to portable breakfast items like nutrition bars. But when schools closed and children returned home last year, grain sales in the United States soared 7%. So far this year they are down 7.7%.

Kris Bahner, Kellogg’s senior vice president for global corporate affairs, says the company’s compensation and benefits are already among the best in the industry.

The Battle Creek, Mich.-Based company says its longer-term employees earned an average of $ 120,000 last year and $ 118,000 in 2019. Its proposed contract would move new workers to those rates. higher wages over six years, Bahner said.

“We are disappointed with the union’s decision to strike,” she said.

Kellogg began negotiating a new four-year contract on September 8. But workers on the picket line in Omaha say they regularly work 74 to 84 hours a week to make that money.

Some workers have said they endured 12-hour shifts seven days a week throughout the pandemic, with just minutes’ notice of mandatory overtime.

“We’re making a lot of money, but we’ve given up a lot,” said Dan Jourdan, a packaging machine operator who has worked at Kellogg since 2001. “If we only worked 40 hours a week, we wouldn’t earn close to that. kind of salary. “


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Why Section 1202 and QSBS Are So Important to Startup Founders, Employees, and Investors | Nelson Mullins Riley & Scarborough LLP https://obitel.kiev.ua/why-section-1202-and-qsbs-are-so-important-to-startup-founders-employees-and-investors-nelson-mullins-riley-scarborough-llp/ https://obitel.kiev.ua/why-section-1202-and-qsbs-are-so-important-to-startup-founders-employees-and-investors-nelson-mullins-riley-scarborough-llp/#respond Sat, 09 Oct 2021 01:47:44 +0000 https://obitel.kiev.ua/why-section-1202-and-qsbs-are-so-important-to-startup-founders-employees-and-investors-nelson-mullins-riley-scarborough-llp/ With good planning (and avoiding some potential landmines along the way), Qualified Small Business Stock (QSBS) may be able to avoid paying taxes up to 100%[1] capital gains realized on the sale of shares in a startup. This 100% exclusion has been available for startup founders, employees and investors since 2010. If the changes proposed […]]]>

With good planning (and avoiding some potential landmines along the way), Qualified Small Business Stock (QSBS) may be able to avoid paying taxes up to 100%[1] capital gains realized on the sale of shares in a startup. This 100% exclusion has been available for startup founders, employees and investors since 2010. If the changes proposed by the House Ways and Means Committee are passed, this 100% exclusion would be reduced to 50% for taxpayers whose Adjusted gross income is equal to or exceeding $ 400,000 for all sales and trades made after September 13, 2021 (unless a binding contract to sell the shares has been entered into on or before that date). The maximum earning exclusion is the greater of (i) $ 10 million or (ii) 10 times the holder’s adjusted tax base in the QSBS. If you are a founder, QSBS should be a factor to consider when making decisions about starting your business, issuing shares, repurchasing shares and beyond.

First, the disclaimer: As with most things lawyers talk about, every situation is different and there are exceptions, details, nuances, and other considerations that are not included in this article. You should always consult a legal and tax professional to determine if and how you might benefit from the QSBS rules.

What is QSBS? Generally speaking, QSBS is a share that (A) is acquired directly (i.e. in cash or in exchange for services) (B) from a “qualified small business” (C) is held for 5 years before the sale and (D) without a disqualifying event occurs.

What does it all mean?

  1. Acquired directly. QSBS must generally be initially issued to you by the company directly after September 27, 2010 to be eligible for the full exclusion.[1] In other words, if you bought your shares directly from the company and after that date, that’s fine. If you bought it from another shareholder, you probably won’t be able to benefit from section 1202. There are exceptions for certain transfers by gift, death, certain tax-exempt reorganizations or, in limited circumstances, to or from a transfer. entity, so that proper tax and estate planning can preserve QSBS treatment even after certain transfers. If you receive restricted shares as a start-up employee, those shares may also be eligible, provided that you make an 83 (b) choice or, instead of an 83 (b) choice, the restricted shares are fully acquired.
  2. A “qualified small business”. This is one (1) U.S. C corporation (2) engaged in a qualifying trade or business (3) with total gross assets not exceeding $ 50 million prior to issuance.

    Thus, shares issued by foreign companies, S companies and LLCs cannot qualify as QSBS. However – and this is a big “however” – it is possible to convert an LLC or other unqualified company into a C company in a way that exchanges unqualified shares for newly issued QSBS. If this happens without tax deferral and at a time when the value of the unqualified shares is high enough that the basis of the new QSBS exceeds $ 1 million, then the exclusion of the QSBS gain may even exceed the typical $ 10. . millions maximum (since the exclusion will be capped at the largest 10x base). Note, conversions of S companies in particular should be given special attention, as they are unlikely to qualify the stock as QSBS in the absence of a corporate restructuring or other targeted planning. This issue is often only discovered after due diligence on an exit, when it is far too late to complete the trade and begin the 5 year holding period described below.

    The definition of a skilled trade or business is quite broad and essentially requires activities outside of a few prohibited industries. Most tech start-ups will be eligible even if they are tangentially tied to some of the more common exclusions (such as the hospitality industry, personal services, financial industry, agriculture, and mining). So, for example, companies engaged directly in the provision of health or financial services generally do not qualify, but many health technology and FinTech companies do so as a software-as-a-business model. service is generally considered distinct and separate from the underlying service domain. Eighty percent of the company’s assets must be used in the active conduct of a qualifying trade or business for the duration of the taxpayer’s holding period. This is very specific to the facts, and there are strategies that companies can implement as long as they are engaged in skilled and unskilled trades or businesses.

    To issue QSBS, the company must also have remained below $ 50 million in gross assets at all times prior to the qualifying issue. The previously issued QSBS does not lose its eligibility when this threshold is crossed, but the company can no longer issue new QSBS shares, even if the total subsequently drops below this number.

  3. Held for 5 years before sale. A holder must have held the share for a period of 5 years prior to the date of the sale for the share to qualify as QSBS. Filing an 83 (b) election will generally start the clock for restricted shares issued for services. Limited exceptions similar to the initial issuance requirement above generally apply here in the event of a transfer, but, as with this requirement, affiliate transfers should be reviewed for 1202 compliance to ensure that the period 5-year holding will be transferred to the assignee as scheduled. Some rollover transactions may preserve QSBS treatment for shares sold before being held for 5 years.
  4. No disqualifying event. Certain actions taken by the company may affect QSBS processing for a single holder or for a group of shareholders (or all) at the same time. In addition to the inability to maintain a qualifying trade or business as described above, buyout and takeover bid transactions (which have become increasingly common for fast-growing startups) feature a minefield of problems that can destroy the opportunity to benefit from Section 1202. For example, during the 2 year window on either side of an issue of shares to a particular holder, a redemption of any share of that holder will cancel the QSBS benefits with respect to this share issue. In addition, certain larger share buybacks occurring within a one-year window on either side of a share issue may destroy QSBS eligibility for all shares issued in that issue. Because of these rules, any proposed buyback should be discussed with legal counsel as early in the process as possible.

As mentioned above, this article does not cover all the details, rules, or exceptions that may help – or hinder – QSBS eligibility.


[1] QSBS issued after September 27, 2010 are eligible for the 100% exclusion, and QSBS issued after August 10, 1993 and before September 27, 2010 are eligible for a 75% exclusion. If the changes proposed by the House Ways and Means Committee are passed, the 100% and 75% exclusions would be reduced to 50% for taxpayers with adjusted gross income equal to or greater than $ 400,000 (subject to the binding contractual exception).


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Dismayed business groups warn tax hikes will hurt recovery | National insurance https://obitel.kiev.ua/dismayed-business-groups-warn-tax-hikes-will-hurt-recovery-national-insurance/ https://obitel.kiev.ua/dismayed-business-groups-warn-tax-hikes-will-hurt-recovery-national-insurance/#respond Tue, 07 Sep 2021 18:18:00 +0000 https://obitel.kiev.ua/dismayed-business-groups-warn-tax-hikes-will-hurt-recovery-national-insurance/ Business groups have reacted with dismay to the government’s national insurance hike and the dividend income surtax to increase spending on health and social care from next April, calling it a tax on employment and blow to economic recovery. The British Chamber of Commerce (BCC) said the additional financial burden from increased tax burdens ignored […]]]>

Business groups have reacted with dismay to the government’s national insurance hike and the dividend income surtax to increase spending on health and social care from next April, calling it a tax on employment and blow to economic recovery.

The British Chamber of Commerce (BCC) said the additional financial burden from increased tax burdens ignored the damage suffered by thousands of small businesses over the past 18 months.

In a separate attack on tax increases, the Institute of Directors accused the government of an opportunistic ambush, “exploiting public opinion to the detriment of some of the most productive and enterprising segments of the economy.” .

Boris Johnson said a 1.25 percentage point increase in national insurance for employees and employers would contribute to a £ 14 billion annual increase in health and welfare spending, to narrow the lists waiting times and prevent vulnerable people from using all their savings to pay social care bills.

Johnson said the scope of national insurance would be expanded to include retirees who continue to work, although the move would not bring in enough money. A further 1.25% dividend tax hike would mean that small business leaders would also be forced to back the reforms.

Big business was caught in the sights of Rishi Sunak in his budget last March when he announced the first corporate tax increase in 47 years.

The Chancellor raised the overall corporate tax rate, which businesses pay on their profits, from 19% to 25% on profits over £ 250,000 from April 2023, raising $ 47.8 billion pounds sterling by April 2026.

Suren Thiru, head of economics at the BCC, said the increase in national employers’ insurance was a further blow to the business world and “would be a drag on job growth at some point. absolutely crucial “.

Employers and employees pay national class 1 insurance depending on the remuneration of an employee. The rate is 13.8% for employers, while employees pay 12% of their income up to £ 50,000 per year. Anything over this amount is taxed at 2%.

“Businesses have been hammered by 18 months of Covid restrictions and have accumulated a huge debt burden. This increase will impact the broader economic recovery by placing significant costs on businesses as they already face a series of new cost pressures and curb the entrepreneurial spirit needed to drive the recovery. ”Thiru said.

Mike Cherry, director of the Federation of Small Businesses (FSB), said tax increases would demoralize business owners and independent traders “as they try to recover from the toughest 18 months of their lives. professional”.

“This increase will stifle recruitment, investment and efforts to upgrade skills and improve productivity in the years to come. At the same time, corporate executives, many of which have been excluded from pandemic support measures, face a new attack on dividend income, ”he said.

Kitty Ussher, the chief economist of the Institute of Directors, was scathing about the impact on independent traders, many of whom are forced to become small businesses to secure contracts with larger companies.

“The new surprise dividend tax will once again target the executives of small businesses,” she said.

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“The independent incorporated traders and other owner-managers, who relied on dividend income, were the only group of workers who were not supported by the government during the pandemic.

“Employees and the self-employed have received financial support to help them, but this group has not. “

She said the tax hike revealed “a complete lack of understanding of the very real difficulties faced by owners of Britain’s smallest businesses”.


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What is a 401 (k)? Definition, contribution limits, basic principles https://obitel.kiev.ua/what-is-a-401-k-definition-contribution-limits-basic-principles/ https://obitel.kiev.ua/what-is-a-401-k-definition-contribution-limits-basic-principles/#respond Fri, 03 Sep 2021 19:19:31 +0000 https://obitel.kiev.ua/what-is-a-401-k-definition-contribution-limits-basic-principles/ A 401 (k) plan is an employer-sponsored retirement plan where employees can contribute their pre-tax income, up to a limit, where it can grow tax-free. There are two types of 401 (k) plans: traditional 401 (k) plans funded in pre-tax dollars and Roth 401 (k) plans funded in after-tax dollars. It is possible to withdraw […]]]>
  • A 401 (k) plan is an employer-sponsored retirement plan where employees can contribute their pre-tax income, up to a limit, where it can grow tax-free.
  • There are two types of 401 (k) plans: traditional 401 (k) plans funded in pre-tax dollars and Roth 401 (k) plans funded in after-tax dollars.
  • It is possible to withdraw money from a 401 (k) earlier, but you will have to pay taxes and penalties.
  • Visit Insider’s Investment Reference Library for more stories.

Everyone knows the importance of saving for retirement. According to a TD Ameritrade 2020 Study, most Americans expect to retire at age 67, and more than half have a plan in place to do so. If you’re one of those wondering where to start, you may have considered a 401 (k) as an option.

A 401 (k) is one of the many retirement vehicles that can help you plan for the future. Here is what you need to know.

What is a 401 (k)?

A 401 (k) plan is a tax-advantaged retirement account offered by employers in the United States. This retirement vehicle is named after section § 401, subsection k, of the United States Internal Revenue Code.

This type of account allows employees to save for their retirement by contributing a portion of their income over time. Contributions are made by payroll each pay period. Employees can choose to contribute a percentage of their salary or a fixed amount up to a certain limit. These investment vehicles are tax-efficient, which means they lower your taxable income since they are funded with pre-tax money – and the funds in the account grow tax-free.

Some employers contribute to employee 401 (k) plans by offering an employer match. For example, an employer may offer to match an employee’s contributions dollar for dollar up to the first 5% of the employee’s salary.

Employer contributions often come with conditions, such as a vesting schedule. Vesting means that employer contributions and the income from them are not the property of the employee until certain conditions are met. Most of the time, employers require employees to be employed for a set period of time before all employer contributions and earnings become the property of the employee.

Types of 401 (k) s

There are two types of 401 (k) plans: the traditional 401 (k) and the Roth 401 (k) s. Not all employers offer both types of 401 (k) plans.

Here is how they work:

  • Traditional 401(k) plans: Traditional 401 (k) plans allow employees to contribute pre-tax dollars to their account, thereby reducing their taxable income. However, withdrawals from the account will be taxed. In general, this type of 401 (k) is ideal if you expect to fall into a lower tax bracket in retirement when receiving taxable distributions.
  • Roth 401(k) plans: The Roth 401 (k) plans are the opposite in that they are funded with after tax dollars. There is no tax break when funded, but you won’t have to pay tax on withdrawals later in retirement. Contributions and income grow tax free.

401 (k) annual contribution limits

For 2021, the maximum amount an employee can contribute to a 401 (k) is $ 19,500. Employees 50 or older can make a catch-up contribution of $ 6,500 for a combined total limit of $ 26,000.

These limits apply to both traditional 401 (k) plans and Roth 401 (k) plans, even if you split your contributions between the two. If you change employers during the year, your total 401 (k) contributions cannot exceed this limit.

Another important thing to keep in mind: 401 (k) contributions cannot exceed an employee’s income. For example, if you earn $ 15,000, you cannot contribute $ 19,500 to your 401 (k) plan.

However, employer contributions are not subject to this ceiling. Overall, employee and employer matching contributions cannot exceed $ 58,000 (or $ 64,500 for employees 50 years of age or older). Some employers allow employees to make non-Roth after-tax contributions, which are subject to this limit.

Here’s a quick rundown:

Rules for withdrawing money from a 401 (k)

If you are looking to withdraw money from a 401 (k), keep in mind that there will be taxes – and even fees – to pay, depending on what type of 401 (k) you have, your age and other factors.

Let’s take a look at each scenario in which you can withdraw funds before retirement:

How to avoid withdrawal penalties

While 401 (k) plans allow your savings to grow until retirement, there are ways to access the money sooner. Just keep in mind that it will cost you, both in penalties now and lost income later.

Money withdrawn from a 401 (k) plan before age 59.5 will be subject to a 20% federal income tax and an additional 10% penalty from the Internal Revenue Service (IRS) . This means that if you withdraw $ 5,000, your plan administrator will withhold $ 1,000 (20%) and you owe the IRS $ 500 when you file your taxes, leaving you with $ 3,500.

While you can’t avoid federal income tax in most cases, there are ways to avoid the 10% penalty in certain situations :

  • A permanent handicap: If you need to withdraw funds due to permanent disability, you will not be subject to the 10% penalty.
  • Division of property during a divorce: Funds that must be withdrawn during the division of assets during a divorce are not subject to the penalty.
  • Qualified military reservists: Those called up on active duty for at least 180 days can make withdrawals without penalty.
  • Rule of 55: If you quit your job, are laid off or fired at age 55 or over, you can avoid paying the early withdrawal penalty.
  • Election “substantially equal periodic payments “: A special provision allows you to withdraw a specific amount from your 401 (k) each year for five years or until age 59.5, whichever comes first. There are many rules with this option, so it is best to work with a qualified financial advisor.
  • Withdrawal of difficulties: If you can prove to the IRS that you have immediate and significant financial need, you may be eligible for a hardship withdrawal to pay for eligible medical expenses or to repair your home after a disaster.
  • Upon death: Distributions made to a beneficiary or an estate on or after your death are not subject to the penalty.
  • IRS taxes: If you owe the IRS money, you can make a withdrawal without penalty to reimburse Uncle Sam.
  • Birth or adoption: You can take up to $ 5,000 without penalty to pay for an eligible birth or adoption.
  • Financial difficulties related to COVID: The CARES (Coronavirus Aid, Relief, and Economic Security) law allows up to $ 100,000 to be withdrawn from a 401 (k) account without penalty due to financial hardship related to the COVID-19 pandemic. This only applies to withdrawals made during the year 2020.
  • Work plan: If you transfer your account to another pension plan within a certain period of time, you can avoid the 10% penalty.

Rules after retirement

Once you reach the age of 59.5, you can access the money in your 401 (k) account without paying a penalty. Depending on the type of plan you have, you may have to pay income tax on distributions.

“In practice, most people transfer their 401 (k) to an IRA before or during retirement,” says Sean Mullaney, CPA and financial planner at Mullaney Finance and Taxation. They can choose the financial institution where they renew the money and will have access to a wider variety of investment options than those offered by most 401 (k) plans.

Starting at age 72, individuals should start withdrawing the minimum required distributions, called RMD for short, from their 401 (k) account. If they are still working for an employer at age 72 or over, they will not need to take RMD. Mullaney says this exception does not generally apply if the employee has a substantial interest in the employer.

How to open a 401 (k)

Getting started with investing in a 401 (k) is pretty straightforward. You will need to create your account with your employer and decide how much of your salary you want to contribute each month.

The 401 (k) plan administrator provides employees with investment options such as mutual funds, index funds and exchange traded funds. You can decide which funds to invest in and how much of your contributions to invest in each fund. For example, you can decide to divide your monthly contributions between a total market

index fund
and a bond index fund.

Investment options vary from plan to plan. It’s important to look at the fund’s performance and choose funds that match your risk tolerance and long-term goals.

401 (k) loans

Sometimes you may need early access to your 401 (k) funds if something does happen. In this case, you can take out a loan against your balance, called a 401 (k) loan. You can borrow up to 50% of your acquired balance or $ 50,000, whichever is less, while avoiding penalties. You will have five years to repay the loan, but it may be different depending on your plan rules.

The good news is that you won’t permanently deplete your retirement savings and any interest you pay will go back into your 401 (k). However, you will need to pay the origination fee. And if you can’t repay the loan within the allotted time, the IRS considers it a distribution, so you’ll have to pay income tax and the 10% penalty.

If you quit your job, are laid off, or are fired before repaying the loan, the plan sponsor may require you to repay the outstanding balance immediately. If you don’t, it may be reported to the IRS as a distribution and subject to federal tax and an early withdrawal penalty.

The financial report

A 401 (k) account can be a great way to save for retirement and minimize your tax burden. It allows you to save for your retirement in a tax-efficient manner. Since the money is automatically deducted from your paycheck, it’s easy to save. Many employers also offer a match, which allows your retirement savings to grow faster. You should always contribute enough to your 401 (k) to capture the entirety of the employer each year if you can. This is free money, if you stick to the vesting schedule, and is part of your total compensation.


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