Making lifetime gifts continues to be a smart estate planning strategy
With the federal gift and estate tax exemption now at a record high $11.58 million for 2020, most estates aren’t taxable. But that doesn’t mean making lifetime gifts isn’t without significant benefits — even if your estate isn’t taxable under the current rules.
ESOPs offer businesses a variety of potential benefits
Wouldn’t it be great if your employees worked as if they owned the company? An employee stock ownership plan (ESOP) could make this a reality.
How to Track Employee Time
If you have to track a lot of employee work hours, you might want to use QuickBooks’ Timesheets.
Back-to-school tax breaks on the books
Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule. In any event, parents may be eligible for certain tax breaks to help defray the cost of education.
Payroll tax deferral guidance
President Trump signed an Executive Order on August 8, 2020, and Treasury issued guidance on August 28, 2020 regarding the deferral of social security tax withheld from the paychecks of employees.
5 key points about bonus depreciation
Under current law, 100% bonus depreciation will be phased out in steps for property placed in service in calendar years 2023 through 2027.
DOL provides additional guidance on FFCRA and what is considered a school closure
Many employers are trying to understand how the Families First Coronavirus Response Act (FFCRA) paid leave mandates for school closures apply to the various teaching options and schedules as schools reopen.
How nonprofits should classify their workers for tax purposes
Employees or independent contractors? It’s not only for-profit companies that struggle with the question of how to classify workers for federal tax purposes.
Oh, no, your original will is missing!
In a world that’s increasingly paperless, you’re likely becoming accustomed to conducting a variety of transactions digitally. But when it comes to your last will and testament, only an original, signed document will do. The original vs. a photocopy
Helping employees understand their health care accounts
Many businesses now offer, as part of their health care benefits, various types of accounts that reimburse employees for medical expenses on a tax-advantaged basis.