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February 2020 Archives

Fausone Bohn Recently Assisted in IRS Approval for Family Foundation

Attorneys Brandon Grysko and Jim Fausone recently assisted a high net worth client in establishing a tax-exempt family foundation, meaning the foundation is exempt from Federal Income Tax, under Internal Revenue Code Section 501(c)(3). In order to qualify under Section 501(c)(3), an organization must be organized and operated exclusively for charitable-type purposes.

The SECURE Act

On December 20, 2019 President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), which went into effect on January 1, 2020. This Act is intended to strengthen retirement security throughout the country. If you have a qualified retirement plan at work or an IRA, this law will most likely effect you and your beneficiaries.

Former Fastenal Employee Fired Over Tweet

Hussien Mehaidli, a former Fastenal branch manager in Canada, was fired just before the New Year because he complained on social media about the company's holiday gift - a grill scraper and barbecue sauce. The former employee tweeted "What kind of multi-billion company gifts its Canadian employees barbeque sauce as a holiday gift? Yet the USA employees stuff their face with an actual holiday giftbox?"

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