NAEDA In Action: Your Help Needed!
NAEDA’s VP of Government Relations, Natalie Higgins, met with Representative Rod Blum’s (IA) office in early July to discuss Rep. Blum’s efforts to increase the de minimis safe harbor from $500 to $2,500 per invoice or item. Current IRS regulations provide a $5,000 de minimis safe harbor deduction for capital expenditures provided that the taxpayers maintain and file specific financial documents, typically an audited financial statement. Many of NAEDA’s members do not need to file the applicable financial statements given the structure of their businesses. For those businesses, the IRS only provides a de minimis safe harbor of only $500 per invoice or item. NAEDA does not believe that its members or it’s member’s customers should have to bear an unnecessary accounting burden simply to qualify for a more reasonable exemption. Such costs are clearly incurred to keep equipment in an ordinarily efficient operating condition.
Rep. Blum has now officially introduced his proposed bill as House Resolution 3318. In order for this bill to gain the momentum it needs to succeed, Rep. Blum needs other lawmakers join him and co-sponsor the bill. NAEDA members are encouraged to reach out to their own Representatives and ask them to co-sponsor H.R. 3800. Dealers are asked to raise this issue as you come into contact with their congressional member while they are on their August recess.
Need help getting connected to your legislators? Call or email Natalie Higgins to get more information; (636) 349-6206 or firstname.lastname@example.org.
Reminder To Update HR Policies Due To Same-Sex Marriage Court Decision
The immediate impact of the US Supreme Court decision is the legalization of same-sex marriages in all states, regardless of where the marriage was performed. That means that all spousal privileges associated with employment must be extended to same-sex married couples. Examples include: FMLA: Time off to care for a spouse with a serious medical condition and time off associated with a spouse’s military deployment. Spousal participation rights in group medical or other employer-provided fringe benefits plans, including the right to COBRA coverage in the event of divorce or other qualifying event that triggers spousal election rights. Application of employer policies with spouse-specific terms, such as bereavement or other time off policies. Protections afforded by state or local law or employer-adopted policies that prohibit discrimination based on marital status. Also, employers that have adopted policies extending benefits or other privileges to “domestic partners” may decide to re-visit the need for those policies in light of the Court’s decision. In reviewing any existing policies concerning domestic partner benefits, be aware that some state and local governments have enacted laws mandating equal treatment for domestic partner relationships. Porter Wright LLP via MAERA Weekly Bytes