July 8, 2016
To help ease the burden of hard-working parents, employers may institute a dependent care assistance plan for employees. Under such a plan, payments made to third parties like babysitters and day care centers are excluded from income if the costs ...
July 6, 2016
Does your business offer discounts to its employees and family members? This can be a valuable fringe benefit to your workers and shows that you believe in your own brand. But does a discount qualify for a tax exclusion? It depends.
July 6, 2016
If some of your employees are looking to go back to school, or to enroll in college courses for the first time, you might decide to lend a helping hand. An employer can set up a program that effectively pays for all or most of the costs on a tax-free ...
July 5, 2016
Does your business provide meals to its employees in your own cafeteria or by other means? Generally, the cost of this fringe benefit is deductible by the business and tax-free to the employees, but only as long as certain tax law requirements are met.
July 5, 2016
Women, with longer life expectancies and lower average salaries, are much more concerned than men about whether they will be able to save enough money to have the kind of retirement they want, studies show.
July 4, 2016
The statutory requirements for on-site athletic facilities are precise. If you operate a gym or similar facility on the business premises, the value of the benefit is exempt from tax and deductible by the company as long as substantially all use at ...
July 3, 2016
Taxpayers who adopt children may be in line for special tax breaks. Significantly, you can claim a generous tax credit for qualified adoption expenses you’ve incurred, subject to a reduction based on your modified gross income (AGI). But high-income ...
June 28, 2016
What’s better than a salary increase? For many employees, the addition of an equivalent fringe benefit may be preferable, due to the tax consequences. For example, if an employee is in the 25% federal tax bracket and receives a $10,000 raise, he or ...
June 28, 2016
If the employer doesn’t provide a cell phone, but instead initiates a reimbursement arrangement for an employee’s personal cell phone that is used for business, the IRS may treat it as a noncompensatory business purpose.
June 28, 2016
Global stock markets, including those here in the U.S. saw huge declines in the first few days of trading after the Brexit vote, primarily due to the uncertainty of what this decision by British voters will mean for not only their economic future, but ...
June 22, 2016
Here are 5 tips (and a bonus!) from CPA Mutual to help CPA leaders pay attention when it’s time to renew their policies.
June 17, 2016
At Scaling New Heights, Intuit announced a new partnership with ICBUSA, part of the Institute of Certified Bookkeepers (ICB), and Hubdoc.