July 20, 2016
Under the ACA, employers are generally required to provide at least minimal essential coverage to full-time employees. Beginning in 2016, the employer mandate applies to employers with 50 or more employers. (Smaller businesses are exempt.)
July 13, 2016
If there’s one thing we all have in common, it’s that no one enjoys filing taxes. But, according to recent studies, millennials feel particularly anxious about the annual process.
July 8, 2016
To help ease the burden of hard-working parents, employers may institute a dependent care assistance plan for employees. Under such a plan, payments made to third parties like babysitters and day care centers are excluded from income if the costs ...
July 6, 2016
Leaders from the Internal Revenue Service, state tax agencies and tax preparation community are warning tax preparers that they increasingly are targets of cybercriminals and should take appropriate steps to protect clients from data theft.
July 6, 2016
If some of your employees are looking to go back to school, or to enroll in college courses for the first time, you might decide to lend a helping hand. An employer can set up a program that effectively pays for all or most of the costs on a tax-free ...
July 5, 2016
Does your business provide meals to its employees in your own cafeteria or by other means? Generally, the cost of this fringe benefit is deductible by the business and tax-free to the employees, but only as long as certain tax law requirements are met.
July 4, 2016
The statutory requirements for on-site athletic facilities are precise. If you operate a gym or similar facility on the business premises, the value of the benefit is exempt from tax and deductible by the company as long as substantially all use at ...
July 3, 2016
Taxpayers who adopt children may be in line for special tax breaks. Significantly, you can claim a generous tax credit for qualified adoption expenses you’ve incurred, subject to a reduction based on your modified gross income (AGI). But high-income ...
June 28, 2016
If morale in your workplace has hit rock-bottom, you can boost spirits – and hopefully productivity – by establishing a program of employee achievement awards. As long as certain requirements are met, the awards are tax-free to employees and ...
June 28, 2016
If the employer doesn’t provide a cell phone, but instead initiates a reimbursement arrangement for an employee’s personal cell phone that is used for business, the IRS may treat it as a noncompensatory business purpose.
June 28, 2016
From credits for electric vehicles, to education deductions and employer credits, there are many changes in 2016. So make sure you and your clients keep up-to-date on these tax breaks.
June 28, 2016
The IRS is giving employers three additional months to comply with the rules for claiming the Work Opportunity Tax Credit (WOTC). The WOTC is available to employers who hire workers any one of several “target” groups.