6.6.19
Employers: Be Aware (Or Beware) of a Harsh Payroll Tax Penalty
If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh penalty…
6.6.19
Fraud du Jour: Social Security Phone Scams
Despite the National Do Not Call registry and features such as caller ID, phone fraud is thriving in the mobile phone era. Using spoofed numbers…
6.6.19
Ensuring Your Long-Term Care Policy Is Tax-Qualified
A long-term care insurance policy supplements your traditional health insurance by covering services that assist you or a loved one with one or more activities…
6.6.19
Vacation Homes: Do You Understand the Tax Breaks and Nuances?
Owning a vacation home can offer tax breaks, but they may differ from those associated with a primary residence. The key is whether a vacation…
6.6.19
Consider the Tax Advantages of Qualified Small Business Stock
While the Tax Cuts and Jobs Act (TCJA) reduced most ordinary-income tax rates for individuals, it didn’t change long-term capital gains rates. They remain at…
6.6.19
TCJA Inspires Many Business Owners to Reconsider Entity Choice
For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C…
5.31.19
IRS Wheels Out Additional Guidance on Company Cars
The IRS has updated the inflation-adjusted “luxury automobile” limits on certain deductions taxpayers can take for passenger automobiles — including light trucks and vans —…
5.31.19
Tax-Smart Domestic Travel: Combining Business with Pleasure
Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have…
5.31.19
Conflicts of Interest: When Employees Aren’t on Your Side
One of the governing principles of the employee/employer relationship is that employees have a fiduciary duty to act in their employer’s interests. An employee’s undisclosed…
5.31.19
IRS Updates Rules for Personal Use of Employer-Provided Vehicles
The IRS recently announced the inflation-adjusted maximum value of an employer-provided vehicle under the vehicle cents-per-mile rule and the fleet-average value rule. Employers can use…