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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. Read more
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.
The COVID pandemic significantly disrupted the labor force. In 2021, more than 47 million U.S. workers quit their jobs, according to the U.S. Department of Labor. Many people who quit in search of better work-life balance, enhanced flexibility and increased pay were rehired elsewhere. In fact, the…
Despite its name, the "kiddie tax" is anything but child's play. If you're not careful, this provision of the tax code can result in children having to pay significant extra tax dollars on their investment income. But your family may be able to downsize the kiddie tax for 2023 by making the right…
Proactive business owners always have an eye on the future. And part of that preparedness means knowing what the company is currently worth and doing everything possible to maximize that price. Operating in a sale-ready state can be worthwhile, for example, if the business receives an unsolicited…
Healthcare organizations may be missing opportunities to align tax planning with business strategy.
The new Section 174 rules require taxpayers to capitalize and amortize R&E costs incurred in taxable years beginning on or after Jan. 1, 2022. Amortization is calculated using a straight‐line recovery period of either five years for costs incurred in the U.S. or 15 years for costs incurred outside…