It would seem obvious: A bonus is income and gets withheld and taxed just like the money in the regular paycheck. But in reality, it’s more complex than that. Click through for details so no one faces unpleasant surprises at tax time.Bonuses, frequently given at the end of the year, are a popular “thank you” […]
Talking about pay with employees can be uncomfortable — even for experienced managers. But if you plan it right, the talk can be profitable for both parties. Click through for strategies on navigating pay discussions with your staff.During the normal course of business, managers are typically required to have conversations with their employees regarding compensation. […]
When you are planning how to divide your estate among family members, fair does not necessarily mean “equal.” Click through to learn how to preserve both the maximum value for the estate’s assets and harmony among the beneficiaries.For some simple estates, all you may need to do is split your assets in equal proportions among […]
As an employer, you will have confidential access to personal and identifiable information regarding your employees. If their information is not handled properly, the private details about their identities can easily end up in the wrong hands. Click through for insight into how you can protect your employees. Deductible levies for itemizers include their payments […]
When Form 1040 time rolls around, individuals who itemize deductions for state and local taxes use Schedule A of Form 1040 to claim such write-offs. But the rules can get tricky. Click through to make sure you navigate the provisions correctly.Deductible levies for itemizers include their payments for income taxes, sales taxes, real estate taxes […]
The federal work opportunity tax credit can put money into the pockets of employers for hiring individuals from certain target groups who have consistently faced significant barriers to employment. Click through to see if your business is eligible.As explained by the IRS, the work opportunity tax credit is equal to 40% of up to $6,000 […]
Summary: Many business owners have learned the expensive way that just because they incurred expenses doesn’t mean outlays can automatically qualify as deductibles. Click through for a case study that shows what “ordinary and necessary” really means. The operative word for business deductions is business. Generally speaking, the money that people spend to improve their […]
Summary: You may have been advised to check your tax withholdings at least once a year. But if you’ve had job or family changes, you may want to do it more frequently. Click through for some IRS withholding advice to forestall any surprises next tax season. Are you having the right amount of taxes withheld […]
Summary: Dividend stocks have been riding a renewed wave of popularity. Investors appreciate dividends due to the reliable income streams they produce, along with their potential for capital appreciation. Click through for an overview on dividends to see whether they’re right for you.Dividend stocks provide a relatively low-risk strategy and a hedge in volatile markets. […]
Summary: Productive workers can be difficult to find, though employee referrals can make your search much easier. But how does such a system work? Is it something you can implement at your place of business? Click through for insight into this type of incentive program.In May 2022, ABC News reported that 90% of employers have […]