Restricted stock is stock that’s granted subject to a substantial risk of forfeiture. Income recognition is normally deferred until the stock is no longer subject to that risk or you [...]
1. Your expenses must be for the care of one or more qualifying persons. 2. Your expenses for care must be work-related. Which means you must pay for the care [...]
In general, when meal and entertainment expenses are incurred in the context of an employer-employee or customer–independent contractor relationship, one party will be subject to a 50% limitation on the [...]
Major events like hurricanes, tornadoes and fires can strike any time. It’s a good idea to plan for what to do in case of a disaster. You can help make [...]
First and foremost, don’t take a lump-sum distribution from your old employer’s retirement plan. It generally will be taxable and, if you’re under age 59½, subject to a 10% early-withdrawal [...]
IRS.gov offers tips explaining withholding to your student. Here are a few important tips to help explain withholding and tax information. 1. Don’t be surprised when your employer withholds taxes from [...]
The passing of Memorial Day marks the beginning of summer in the minds of many Americans. Although the kids might still be in school for another week or two, summer [...]
If you’re considering donating a property to charity, here are three potential tax traps you need to be aware of: If you donate real estate to a public charity, you [...]
Exerts from an article on msn.com A marital split, divorce or remarriage can have long-lasting ramifications when it comes to your retirement benefit. Most retirees are uninformed about how Social [...]
Exerts from IRS Tax Tip- irs.gov For many people, out of sight out of mind is the rule of thumb once they have filed their tax return. However, there’s no [...]
Health care Flexible Spending Accounts (FSAs) allow employees to redirect pretax income to an employer-sponsored plan that pays, or reimburses them for, qualified medical expenses not covered by insurance. A [...]
Use an account with tax benefits. Remember, not all savings accounts are the same. Putting your retirement fund in a high-yield account or CD isn’t enough. Look for specific [...]
Are you thinking about turning a business trip into a family vacation this summer? This can be a great way to fund a portion of your vacation costs. But if [...]
This year, trusts are subject to the 39.6% ordinary-income rate and the 20% capital gains rate to the extent their taxable income exceeds $12,150. And the 3.8% net investment income [...]
Information courtesy of IRS Did you know that the Treasury Department’s Offset Program can use all or part of your tax refund to pay outstanding federal or state debt. The [...]