Benefits

Tax deferred retirement savings accounts, especially 401(k)s, have long been a standard for American workers looking to ensure some savings and income during their retirement years. But the economy and recent changes to healthcare law and insurance premiums are having a negative effect on savings rates.

When the ball dropped in Times Square at midnight on New Year’s Eve, it did more than signal the start of another year. It also officially closed the books on several significant tax breaks for individuals and small business owners. Unless these provisions are resurrected by a bipartisan Congress – no sure bet – they won’t be available in 2014.

All extended federal benefits ended last week because the budget deal reached by U.S. Senate and House negotiators didn't include extension of the federal Emergency Unemployment Compensation program. The added benefits were authorized in 2008 and extended 11 times as the recession and its effects dragged on.

The IRS surprised employers a few weeks back with a rule change that allows flexible spending account participants to roll over up to $500 of their unused account balances into the next year.

A "Boomer flight" is coming, as the currently retiring generation of Americans are leaving New York City en masse, carrying with them tens of billions in retirement dollars and lost money to the local economy every year.

After years on the job and endless family responsibilities, baby boomers are ready to redefine what it means to be retired. A composite of Del Webb Baby Boomer surveys completed throughout 2013 found that boomers plan to use retirement to revamp their social lives and focus on their overall physical well-being.

As a lawyer who has represented businesses and professionals in the claims and litigation process of long-term disability insurance benefits for more than 20 years--and a business owner myself--I have learned the importance of long-term disability insurance, as well as the importance of having the right package of long-term disability insurance benefits.

With January only a few weeks away, business owners should already be thinking about year-end tax planning, and there are five significant tax regulations and credits they should evaluate before the New Year, according to Paychex.