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The gift tax exclusion is among the most valuable tools available to transfer assets to family and other loved ones without ending up with an unwelcome tax bill for the givers or recipients. Year end often is a busy time for gifting, as taxpayers move to take advantage of the annual exclusion.… Read more
When generative AI hit the front pages, companies across industries moved quickly to explore the opportunities the technology had to offer.
Predictive staffing helps ensure the right people are available at the right time to provide the right care.
Businesses and individuals concerned about the confusing 1099-K reporting requirements can breathe a sigh of relief: On November 21, 2023, the IRS announced that the deadline for the new $600 reporting threshold won't go into effect for the 2023 tax year — and it's expected to increase the threshold…
The holidays are often referred to as "the most wonderful time of year" — and, for some people, that's due in part to their year-end bonuses. While bonuses are an important part of rewarding employee performance and enhancing retention, they also can raise a variety of tax issues for both employers…
The National Center for Employee Ownership (NCEO) estimates that about 6,500 U.S. companies have employee stock ownership plans (ESOPs). Many owners of closely held businesses use these plans as an exit strategy. Although ESOPs offer a variety of benefits, including significant tax advantages,…
It's challenging and expensive to be a parent. The average annual cost of raising a child in the United States is $21,681, after factoring in tax exemptions and credits, according to a 2023 study published by Lending Tree. That's an increase of roughly 19% from 2016 — and the estimate is based on…