Employer Provided Benefits
An employer can provide many different forms of medical coverage benefits to its employees. Some are tax advantageous for the employee, while other plans are required to be included as income.
An employer can provide many different forms of medical coverage benefits to its employees. Some are tax advantageous for the employee, while other plans are required to be included as income.
Withholding is the method the government developed to help Americans prepay their tax bills.
If your business needs an automobile, you need to consider the tax consequences of buying or leasing the vehicle.
An employee stock purchase plan (ESPP) is a plan that allows a company to compensate a broad group of employees with options to buy the company’s stock at a specified price, usually at a discount. Many large companies use these plans as an employment incentive, giving employees an opportunity to share in the growth potential of the company’s stock. Generally, the employee is not taxed at the time the stock is purchased.
If you’ve been lucky enough to lock in one of the historically low mortgage rates through refinancing, you should know some of the refinancing costs are tax deductible.
You haven’t received cancelled checks with your monthly bank statement since 2004, so how do you prove an expense to the IRS?
A year-end bonus sounds like a good idea, but is it in the best interest for your employees and company?
Although you may withdraw money from an IRA at any time, these funds are intended for retirement. To encourage you not to touch this money until you retire, the IRS imposes penalties for early withdrawals.
Generally, club dues are not a deductible expense, but depending on the circumstances, a business meal at the club might be.
Even in death, you cannot escape taxes. Even after you have passed, your surviving spouse or estate need to file your final personal tax return.