Newsroom
Different states have different rules for determining whether a trust is a "resident" for income tax purposes. State tax liability can depend on the location of settlors, trustees or beneficiaries. In some situations, a trust could be liable for taxes in multiple states. Fortunately, you may be able… Read more
Inflation is generally bad news. But a favorable side effect is bigger annual inflation adjustments to federal tax breaks. In fact, many federal tax parameters for the 2023 tax year are up about 7% over the amounts for 2022. Here are the details — plus inflation-adjusted estimates for the 2024 tax…
The U.S. government has repeatedly revised the requirements for U.S. taxpayers to claim the Employee Retention Credit (“ERC”), also commonly known as the Employee Retention Tax Credit, since its initial codification into law. As a result, many eligible taxpayers have been left uncertain as to…
The Family and Medical Leave Act (FMLA) is a federal law that authorizes employees to take an unpaid leave of up to 12 weeks if certain conditions are met. What many employers and employees may not know is that this leave doesn't have to be taken all at once. It can occur under a reduced schedule.
Many businesses maintain life insurance policies on their owners or employees for estate planning, buyouts and various other business purposes. To receive the maximum tax benefits from business-owned life insurance, though, you need to understand the IRS rules and requirements.
It's time for calendar-year entities to engage in midyear employee performance reviews. Love them or hate them, performance reviews can help employers improve employee productivity and boost morale. But they're often rushed or underappreciated. Here's how you can get more from this administrative…
Active-duty service members, veterans and their families deserve our gratitude for their sacrifices for our country. One small "thank you" from the government comes in the form of tax breaks to service members serving here and abroad. Here are 10 breaks for military families to consider.