Business Advisory Blogs

Saving For a Comfortable Retirement Is Up To You

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

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Who pays for Social Security and Medicare?

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. 

Read full post  |  Posted by on 08.02.16

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ACA and Employers: How Seasonal Workers Affect Your ALE Status

When determining if your organization is an applicable large employer, you must measure your workforce by counting all your employees.  However, there is an exception for seasonal workers.

Read full post  |  Posted by on 07.21.16

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Make Time For Midyear Tax Planning

One benefit of midyear tax planning is that you have a solid foundation for making decisions and enough time to implement them.

Read full post  |  Posted by on 06.20.16

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HSA Contribution Limits Barely Budge for 2017

The IRS recently announced the inflation-adjusted contribution limits for health savings accounts (HSAs) for 2017. HSAs combine high-deductible health insurance plans with a medical savings account.

Read full post  |  Posted by on 06.15.16

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Renting Out Your Vacation Home

We are often asked “What are tax consequences of renting out our vacation home for part of the year?”

The tax treatment depends on how many days it's rented and your level of personal use. Personal use includes vacation use by your relatives (even if you charge them market rate rent) and use by nonrelatives if a market rate rent is not charged.

Read full post  |  Posted by on 06.02.16

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Prepaid debit cards offer benefits and drawbacks

Prepaid debit cards, also known as stored-value cards, can be useful when you lack a traditional checking account. In an increasingly plastic-dependent world, these cards can be substituted for cash, and you can use them to pay for airline tickets, hotel stays, electronics, and groceries. Money is transferred, or "loaded," to the card and is yours to spend until the card runs out of funds or is reloaded. Read more.

Read full post  |  Posted by on 05.31.16

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Financial tips to follow when a spouse dies

The death of a spouse is emotionally and financially devastating. Making decisions of any kind is difficult when you're vulnerable and grieving, but having a plan to follow may help. Here are suggestions for dealing with financial tasks. Read more.

Read full post  |  Posted by on 05.31.16

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How Employee Expenses Are Deducted

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.

Read full post  |  Posted by on 05.26.16

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Luxury auto depreciation limits announced for 2016

The IRS recently issued the depreciation limits for business vehicles you buy and place into service this year. 

Read full post  |  Posted by on 05.18.16

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