Update on the New Business Interest Expense Limitation
The Tax Cuts and Jobs Act (TCJA) imposes a new limitation on deductions for business interest expense. The IRS recently issued guidance in the form of proposed regulations. The business interest expense limitation is a permanent change for tax years that began in 2018. Thankfully, many businesses are unaffected. Here's what you need to know.
Is a New Individual Health Plan in Your Future?
If you currently have a conventional health plan through your employer, you could be in for a change. This is also true of employers who provide health insurance. Beginning in 2020, employers will have expanded freedom to simply give you some money to help you buy health coverage on your own. It's probable that many employees will seize the opportunity eventually. Here's what you need to know.
Hot Midyear Tax Planning Ideas for Individuals
The second half of 2019 has begun. Have you given any thought to your current federal tax situation? Fortunately, you still have several more months to make changes. Here are some areas to consider including fine-tuning your investments, making tax-savvy gifts, converting IRAs and avoiding the alternative minimum tax to help lower your tax hit in 2019 and beyond.
Tips for Picking the Right Nursing Home Facility
Nearly 1.3 million Americans live in nursing homes. While most facilities provide high-quality care, a recent study found about 3% have "persistent records of poor care." When it comes to finding an extended nursing care facility for your loved one, you'll want to do extensive research. This article provides a search tool that rates nursing homes and tips to help your family make an informed decision.
Summer Loving? Think About Taxes Before You Tie the Knot
Warm weather, outdoor venues and picturesque photo backdrops make summer a popular time to get married. But forget romance for a while and think about practical matters. Before saying, "I do," it's important to consider taxes and other financial issues that must be addressed when you merge two lives. The more wealth you accumulate, the more complicated the issues become.
NLRB Raises the Bar on Clarity of Employee Arbitration Agreements
Arbitration agreements are a common legal tool in employment arrangements to keep labor disputes from becoming bogged down in costly, time-consuming court battles. However, as a recent National Labor Relations Board (NLRB) ruling reveals, there are limits to their enforceability based not just on what these agreements state, but also on what they imply.
How Much Can Businesses Deduct for Vehicles Placed in Service in 2019?
Tax breaks for buying new and used business vehicles have been expanded under the Tax Cuts and Jobs Act. But there are some important limitations and exceptions that you should review before making a purchase. Also, if you're thinking about leasing a car to be used for business, don't forget to consider the amounts that lessees must report as income that effectively reduces deductible lease payments.
As Legal Challenges Continue, Dont Miss this EEOC Deadline
Some employers may need to scramble to comply with the latest development from the Equal Employment Opportunity Commission. Its EEO-1 report has been the subject of a legal saga for some time. Now, a September 30 deadline may make it tough to pull together your 2017 and 2018 "Component 2" data. (The "Component 1" data deadline has passed.) Here's what you need to know.
Consider a Summer Dress Code to Keep Workers Cool
If you're located in a four-season climate, summer work attire may soon become a hot topic. To avoid the possibility of heated conflicts with inappropriately dressed employees, it might be a good idea to implement a seasonal dress policy. Here are some thoughts on the topic.
How to Structure a Business Asset Purchase with Taxes in Mind
In merger and acquisition negotiations, taxes are an important consideration. Do you fully understand the tax consequences of purchasing the assets of a business? The rules are especially confusing if you operate the new entity as a so-called "pass-through" business. Here's what you should know to help you comply with the rules and potentially lower taxes.
Are Pop-Ups a Fresh Marketing Concept or Merely a Fad?
The 21st century has seen its fair share of consumer trends from Pokemon Go to selfies to the popularity of reality television shows. Some trends last longer than others. But one that may have longevity is the pop-up business. Modern pop-ups randomly appear to test innovative products, create brand awareness or sell seasonal wares for a limited time. Learn the pros and cons before you open or invest in a pop-up business.
Employer Responsibility for Gig Workers Evolves with Safety Concerns
After reading the daily news, you might conclude that so-called "gig" workers are taking over the world. While that's not yet the case, their growing role in the labor force is drawing attention to new issues for employers. Workplace safety is one such concern. Here's what today's employers should keep in mind when using independent contractors.