Summary: The Foreign Account Tax Compliance Act requires that U.S. individuals who hold foreign financial assets must report those assets to the IRS. Click through for an overview of your responsibilities under FATCA rules. Under the Foreign Account Tax Compliance Act, U.S. taxpayers holding financial assets outside the U.S. must report those assets to the IRS […]
Summary: Are you settling an estate for someone who didn’t leave a will? This can lead to problems, but they’re not insurmountable. Click through to become familiar with intestate succession laws that control who inherits property if no will exists. Did a close relative die and not leave a will? You will face some complexities, but […]
Summary: Contributing to your workplace retirement plan, avoiding withdrawals, paying off debts, and setting up multiple sources of income are four ways to retire sooner. Click through for more ideas on how to put your work life behind you at a younger age. Retiring early is a goal for many people. However, according to findings from […]
Summary: Each year, employees may undergo life changes that could affect their income tax withholding. This is why it’s important to remind your employees to review their withholding every year, especially as they’re currently filing income tax returns. Click through to learn what employees should do once a year. The IRS says, “All taxpayers […]
Summary: It’s one of the fundamental rights of all taxpayers: You’re entitled to have representation in dealings with the IRS, even if you choose not to appear at the interview in person. Click through to learn how to retain an authorized representative for that help. Nobody likes dealing with the IRS, but if you […]
Summary: Understanding key financial ratios can make you a better manager. Once you know what the numbers reveal, you can take actionable lessons from them. Click through for an introduction to how ratios can offer important insights for your business and your investments. How do you measure how robust your business is? One of the key […]
Summary: The Fair Labor Standards Act has two categories of employees: exempt and nonexempt. But can an employee have two jobs at a company, one in each category? Click through to see how the rules would work in this situation. You can allow an employee to work two different jobs for your company. However, […]
Summary: When you’re a spouse or personal representative of a deceased individual’s estate, you discover that even the deceased needs to file a final tax return. Click through to find out what responsibilities you have to square things with the IRS. As a survivor, executor or administrator of an estate, you are obligated to file an […]
Summary: How will you pay for the help you’ll need in caring for yourself later in life? Long-term care insurance can be a major help, but decisions surrounding it can be complex. Click through for some insights on whether it might be right for you. Someday, you may need assistance with such routine daily […]
Summary: When people perform work for you, you face a whole new world of responsibilities and deadlines. The rules are detailed and complex. Click through for an introduction to tax rules for employers. Once you have at least one person working for your business, you’re an employer. Being an employer comes with a wide range of […]
