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Defined Benefit Plans: The Standard Pension
Summary: Defined benefit plans offer guaranteed retirement benefits for employees. How do these time-honored plans work? Click through to see advantages, disadvantages and tax considerations for employers and employees. Defined benefit plans are retirement plans that are largely funded by employers, with payouts based on a set formula that considers employees’ salary, age and tenure with […]
Steps for a Disabled-friendly Workplace
Summary: Everyone talks about making workplaces more inclusionary for employees with disabilities, but what are they really doing? Click through for some insights into how to make your business more welcoming to the disabled. How do you get the best employees to work at your company? Start by making your company more inclusive. Even though you […]
What to Do With an Inherited IRA
Summary: If you’ve inherited an individual retirement account, you need to learn the complex rules that govern how you must handle it. Click through to learn how to avoid making decisions that can result in very expensive consequences. Have you inherited an IRA following the death of the owner? Are you the spouse of the original […]
What Business Owners Need To Know About Depreciation
Summary: The depreciation tax break can be nice, but it’s one of the more complicated parts of the tax code. It’s easy to make a mistake, as the IRS draws some fine lines. Click through for the details so you neither violate the rules nor leave money on the table. Depreciation is an annual tax deduction […]
Should You Set Up an Escrow Account?
Summary: Escrow accounts allow homeowners to set aside money each month to cover insurance premiums and property taxes. Click through for some thoughts on the pluses and minuses so you can find out whether an escrow account makes sense for you. With the flexibility offered by an outsourced chief financial officer, you’ll have access to expertise […]
Do You Need an Outsourced CFO?
Summary: You’ve heard of outsourcing accounting, payroll, IT, and marketing — but outsourcing your chief financial officer? It may sound outlandish, but this could very well be the solution that you need. Click through to give your business access to financial expertise and related best practices. With the flexibility offered by an outsourced chief […]
9 Ways To Avoid an IRS Audit
Summary: Does the fear of receiving a notice from the Internal Revenue Service regarding an audit keep you awake at night? Click through for insight into how you can avoid an IRS audit. While you cannot fully control whether the IRS audits you come tax season, there are measures you can take in an effort to […]
How to Manage Inventory
Summary: Whether you sell gardening supplies or computer components, inventory can be a nightmare, especially in this era of disruptions related to COVID-19. Click through for some tips to manage your inventory in a productive way. Do you always have the necessary products available when you need them? Have you lost out on business because items […]
Special Tax Rules for Rehiring Staff
Summary: In these rapidly changing times, you may want to rehire, at least on a temporary basis, staff who have formally retired. But does that change their pension status? Click through to learn how to follow the complex tax rules in this situation. If you find yourself short-staffed, there’s no harm in calling a former employee […]