A health reimbursement arrangement, or HRA, is a benefit plan you can offer to your employees to reimburse them for medical expenses that are not covered by an insurance plan. HRAs offer tax benefits, including the deductibility of contributions you make to your employees' accounts.
By the time you read this article we will be less than two weeks away from Donald Trump's inauguration.
With winter now here and the holidays in the rear-view mirror, the markets also shared in the holiday cheer with a positive (but uneventful) December.
Shaping up your finances in 2017 may seem like a big goal, perhaps even too daunting. But if you take one small step at a time, these small steps will add up. Here are suggestions.
Have you noticed the price of gas? So has the IRS – and the reimbursement rate for business mileage has gone down as a result. The new rate for 2017 is 53.5¢ per mile, down from the 2016 rate of 54¢ per mile.
In general, you can expect your federal refund to be issued approximately 21 days after your electronically filed tax return has been accepted. However, identity theft is still a major problem, and the IRS continues to implement new strategies to protect taxpayer data.
When you're an applicable large employer (generally, when you employ 50 or more full-time workers and equivalents), you're required to provide information about health coverage to the IRS and to your employees.
As you begin your January payroll preparation, take into account earlier due dates for two common information reporting forms.
Updating your payroll records before year-end and putting procedures in place for annual reporting is an especially good idea this December. Two important due dates have been pushed forward...
Have you been keeping up with the latest changes in payroll reporting and other requirements? Here's an update.
November markets have simply been captivated by the US Presidential election.
Here's a quick review of some of the rules you can expect to encounter when you get ready to prepare your 2016 federal income tax return.
The social security coverage threshold for domestic employees, including nannies, will remain at $2,000 for 2017, the same as the 2016 threshold.
On Tuesday, November 22, U.S. District Judge Amos Mazzant of the Eastern District of Texas issued a temporary injunction to stop the new regulation to the Fair Labor Standards Act. This regulation was set to go into effect December 1st...
Losses can be hard to take - so if you think your S corporation will show a loss for 2016, now's the time to plan to make sure you'll get the full tax benefit.
For 2017, the wage base for withholding social security tax from wages has increased to $127,200, up from $118,500 in 2016.
December 31 is the last day you can take advantage of this year's annual gift tax exclusion. The exclusion is the amount you can give away each year without triggering gift tax. For 2016, the exclusion is $14,000 per recipient.
As an IRA owner, you've probably heard about required minimum distributions (RMDs). These account withdrawals, which are mandatory once you reach age 70 &1/2;, are coupled with a steep penalty for noncompliance, and you're generally required to take...
Life in the 21st century is pretty amazing. We have access to nearly limitless options - where to live and work, which degree to earn, what to eat for dinner, which show to stream, where to go on vacation, and so on.
U.S. stocks declined in October with the S&P 500 dropping 1.82% as the November 8th election approaches. It appears that the markets are reluctant to make large moves before it is clear who our next president will be...
Disasters, natural or otherwise, could ultimately lead to your company's demise. Fortunately, advance planning can keep you on track. Here are seven scenarios to be prepared for.
If you're over 70 1/2; and are required to take distributions from your IRA or other retirement account, remember that you must take your 2016 required minimum distribution by December 31.
Beginning this month, you can sign up for a new 2017 health insurance policy on the health insurance Marketplace. You can also change or renew the policy you purchased during the last enrollment period.
An important part of our service to you is to help identify actions you can take before year-end to minimize your personal 2016 federal income tax bill.
Your business just might benefit from the PATH Act (Protecting Americans from Tax Hikes), recent legislation that includes some interesting new opportunities to save taxes on the purchase of assets and upgrades to buildings.
Fringe benefits can be a powerful tool for attracting and retaining staff. If you have an age-diverse workforce, providing the right mix of benefits can help you achieve your goal. Here are suggestions.
Taking a deduction for donations made to charitable organizations sounds simple enough: make a donation and claim it on your tax return when you itemize your deductions.