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 […]
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: 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 […]
Summary: Many homeowners believe their property taxes are etched in stone and that the rates calculated in municipal offices cannot be changed. Click through to learn how your town arrives at your tax rate and how you may be able to change it. Property taxes can be confusing, as there doesn’t appear to be […]
Summary: New entrepreneurs think about production, marketing, sales and human resources — but often forget the tax angle. You need to be on top of your IRS situation from day one. Click through for an overview of taxes for new businesses. Have you given thought to your tax responsibilities, and the choices you need to make […]
Summary: Few business tax issues are as confusing or as subject to misunderstanding as what you can deduct. Mistakes can lead to wasted money and serious legal trouble. Click through for an introduction to what is and what is not deductible. When you’re filing your tax returns, what expenses can you deduct from business income? It’s […]