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Key aspects of a successful wellness program

By |2022-08-17T15:12:11+00:00August 17th, 2022|Latest News|

Wellness programs have found a place in many companies’ health care benefits packages, but it hasn’t been easy. Because these programs take many different shapes and sizes, they can be challenging to design, implement and maintain. There’s also the not-so-small matter of compliance: The federal government regulates wellness programs in various ways, including through the

An “innocent spouse” may be able to escape tax liability

By |2022-08-16T18:22:39+00:00August 16th, 2022|Latest News|

When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax on the couple’s combined income. Therefore, the IRS can come after either spouse to collect the entire tax — not just the part that’s attributed to one spouse or the other. This includes

Estimated tax payments: Who owes them and when is the next one due?

By |2022-08-12T19:44:09+00:00August 12th, 2022|Latest News|

If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if you receive interest, dividends, self-employment income, capital gains or other income. Here are the applicable rules for paying estimated tax without triggering the penalty for underpayment. When are

Is it time for your business to fully digitize its accounts receivable?

By |2022-08-12T19:42:00+00:00August 12th, 2022|Latest News|

With electronic payments and in-app purchases becoming so much the norm, many midsize to large companies have grown accustomed to software-driven accounts receivable. But there are some smaller businesses that continue to soldier on with only partially automated payment systems. If your company is still using paper-based processes, and suffering the consequences, it might be

Provide employee parking? Here’s what the IRS wants to know

By |2022-08-05T17:18:33+00:00August 5th, 2022|Latest News|

Many offices, plants and other business facilities are once again filled with real, live people. And those hard-working employees need somewhere to park. If your company provides parking as a fringe benefit — either on or near your premises or at a location from which employees commute — the IRS may take an interest in

Is your withholding adequate? Here’s how to check

By |2022-08-05T17:15:05+00:00August 5th, 2022|Latest News|

When you filed your federal tax return this year, were you surprised to find you owed money? You might want to change your withholding so that this doesn’t happen again next year. You might even want to adjust your withholding if you got a big refund. Receiving a tax refund essentially means you’re giving the

How to avoid the early withdrawal tax penalty on IRA distributions

By |2022-07-27T18:42:34+00:00July 27th, 2022|Latest News|

When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on early withdrawals depending on how old you are when you take them and what you do with the money. Important: Once you reach a certain age, you must start taking required minimum distributions from your traditional

6 steps to easing employees’ fears about innovation

By |2022-07-27T18:38:09+00:00July 27th, 2022|Latest News|

Business owners often find the greatest obstacle to innovation isn’t the change itself, but employees’ resistance to it. Their hesitation or outright defiance is frequently driven by fear. Some workers might worry about how the innovation will alter their jobs — or whether it will even eliminate their positions. Others could reject the concept and

The kiddie tax: Does it affect your family?

By |2022-07-20T13:37:39+00:00July 20th, 2022|Latest News|

Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It seeks to take income out of your higher tax bracket and place it in the lower tax brackets of your children. While some tax savings are available through this approach, the “kiddie

Interested in an EV? How to qualify for a powerful tax credit

By |2022-07-13T15:50:49+00:00July 13th, 2022|Latest News|

Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However, while they’re still a small percentage of the cars on the road today, they’re increasing in popularity all the time. If you buy one, you may be eligible for a federal tax break. The tax

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