Questions on how to claim deductions for expenses you incur in connection with your employment? The expense include those for local transportation (other than commuting), business meals and entertainment (at 50% of cost), travel away from home, supplies, educations, etc.
The U.S. Department of Labor updated the rules for paying overtime, and the changes take effect December 1, 2016. Under the new rules, salaried employees who earn less than $913 per week ($47,476 per year) will be eligible for overtime pay.
IRS Simplifies the Process for Correcting Late Rollovers between Retirement Accounts
Issued August 24, 2016, Rev. Proc. 2016-47 simplifies the process for correcting late rollovers from one tax-qualified retirement account to another. The guidance provides plan administrators and IRA trustees with an additional basis for accepting rollover contributions after the 60-day deadline.
Read full post | Posted by on 09.08.16
As you settle into your fall semester routine, both the FBI and the IRS want you to be alert for calls from scammers.
Read full post | Posted by on 09.07.16
A research study by a staffing agency reveals that younger workers want to know how the work they do affects the company they work for.
Read full post | Posted by on 09.01.16
Business owners have many computer systems in place in their company, managed by an employee as part of his job or managed by a third party who may not be really qualified to manage a business software system.
When reviewing and evaluating your bank loans make sure that you, your controller, CPA or attorney review all loan documentation in detail and consider the following matters:
If you're age 50 or older, tax law has a permanent provision that lets you make extra contributions to your retirement plans. These “catch-up” contributions vary depending on the type of retirement plan. For example, if you participate in a SIMPLE, you can make a catch-up contribution of up to $3,000 in 2016, over and above the maximum $12,500 salary reduction contribution. For IRAs, both Roth and traditional, the 2016 catch-up contribution is $1,000.
If your employer offers a 401(k) plan, participating can mean the difference between having a sufficient nest egg and worrying about your expenses after you stop working.
Read full post | Posted by on 08.04.16
According to the 2016 Summary of Annual Reports by the trustees, the major source of funding for the Social Security and Medicare programs is the payroll tax you and your employer pay, or that you pay as a self-employed worker.