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Companies can stop collecting employees’ payroll taxes starting Tuesday, September 1, after an executive order in early August gave workers a tax holiday.The deferral of payroll taxes applies to employees making less than 4,000 a year. Employees are taxed 6.2 percent that goes toward the Social Security Trust Fund and another 1.45 percent for Medicare.It’s a deferral because the payroll taxes are still due to the IRS by April 30, 2021, which they made clear in new guidance released last week with the US Treasury Department.What this means to employees: It depends on your employer. Starting September 1, employers can stop withholding taxes, but many business leaders have said they will not since the taxes will eventually be due. The decision is up to each company and is not required.If a company stops withholding payroll taxes, employees will have more money in their paychecks through the end of the year. Then on January 1, companies will need to withhold more from paychecks to collect all that is owed in April 2021.For employees making ,000 a year, the elimination of Social Security taxes would result in an extra per paycheck every two weeks. Assuming the employee has eight paychecks left in 2020, that would result in 2 in taxes deferred in 2020, which would be repaid in 2021. For employees making ,000 per year, those figures would be doubled.If an employee leaves their job before all of the appropriate taxes are collected, the guidance only states that companies can "make arrangements to otherwise collect the total applicable taxes from the employee."President Trump has stated he would “terminate” the tax if he was elected in November. However, the president does not have the ability to do that on his own. Abolishing payroll taxes requires an act of Congress. 1814

CORONADO, Calif. (KGTV) — Coronado is getting a touch of Hollywood Saturday, as 200 stars are installed in honor of cinema's leading icons.As the city ramps up for the Coronado Island Film Festival Nov. 8-11, volunteers will place stars featuring the names of Hollywood actors and filmmakers along Orange Avenue to construct its own Coronado Walk of Fame.Coronado's cinematic history dates back more than 100 years. One of the most well-known films to showcase the island is "Some Like it Hot," which featured the Hotel Del Coronado. The hotel was also featured in other flicks like "My Blue Heaven," "K-9," and "The Stunt Man."Of course, Naval Air Station has hosted Hollywood stars as well. Most recently, actor Tom Cruise was seen on base during filming of the next "Top Gun" film, "Top Gun: Maverick."Coronado's Walk of Fame will highlight names including Marilyn Monroe, Jack Lemmon, Desi Arnaz, Kevin Bacon, Judd Apatow, Charlie Chaplin, Bette Davis, Judy Garland, and many more.CIFF tickets are available online. The four-day festival will celebrate the island's film history with more than 90 film screenings, panels, workshops, and parties. 1158

Cooled to negative 320 degrees, using liquid nitrogen cooled food has become a trendy and cool way of eating. But eating products so cold comes with risks. On Thursday, the FDA issued a warning for foods cooled by liquid nitrogen. The FDA says consuming products marketed as "Dragon’s Breath," "Heaven’s Breath," "nitro puff," among others could cause serious injury. Liquid nitrogen quickly freezes food, but even after the liquid has completely boiled into a gas, the extreme cold of the food and the displacement of oxygen could cause health concerns. "The FDA has become aware of severe -- and in some cases, life-threatening -- injuries, such as damage to skin and internal organs caused by liquid nitrogen still present in the food or drink," the FDA said in a statement. "There has also been a report of difficulty breathing after inhaling the vapor released by liquid nitrogen when added immediately before consumption. Injuries have occurred from handling or eating products prepared by adding liquid nitrogen immediately before consumption, even after the liquid nitrogen has fully evaporated due to the extremely low temperature of the food."The FDA's warning does not extend to all foods cooled by liquid nitrogen. "Other foods treated with liquid nitrogen prior to the point of sale and before consumption, for example some frozen confections, are treated in such a way that results in the complete evaporation of liquid nitrogen before reaching the consumer and are no longer at an extremely low temperature, and therefore do not pose a significant risk of injury," the FDA says. 1646

COLUMBUS, Ohio — A pharmacy group reversed its decision to disallow the prescription of hydroxychloroquine, an anti-malarial drug, in COVID-19 cases.The Ohio Board of Pharmacy rescinded the ban only hours after announcing it, likely due in part to Ohio Gov. Mike DeWine's public plea for officials to allow doctors to continue using the unproven, politically controversial drug to treat the novel coronavirus. 417

Commercial real estate leader Steve Schwab is looking to sign tenants to leases at a new development in downtown Denver but he’s running into troubles linked to the pandemic.“COVID has a had a major effect, probably the most major effect in the sales business,” he said.Schwab, a managing principal at Cushman & Wakefield, says COVID-19 has had a major impact on commercial real estate in a short amount of time.“Between the first quarter and the second quarter, we saw office investments sales decrease by about 72%,” he said.Schwab says unemployment, more people working from home and social distancing are impacting commercial real estate sectors like shopping centers, hotels, retail and office spaces.He says that the road to recovery will be very challenging, something other industry experts agree with.“The restaurants, the gyms, the bowling alleys, those are going to struggle over the next 12-18 months until we get back to full physical occupancy,” said Spencer Levy, chairman at CBRE.Levy says high inventory combined with low interest rates could attract foreign investors to American commercial real estate, something he welcomes with open arms.“Foreign money isn’t just cash. It brings everything with it. It brings jobs, it brings foreign students, it brings people that buy retail,” he said.But will foreign investment bring more people back inside massive buildings?Levy compares what today's commercial real estate industry needs to rebound to that of 9/11.“We had a period of time where people were tragically afraid to be back in the cities, afraid to go back into tall buildings. But that passed after people had better security in those buildings,” he said. “We are going to see exactly the same thing today from a wellness prospective.”With many major retailers already moving out of brick and mortar buildings, and millions of square feet available across the country, Levy says the commercial real estate industry needs more government assistance on the road to recovery. 2005

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