Smart Ways to Handle Off-Site Employees
With today’s technology, many companies and their employees have figured out that at least some work can be done from home. The idea seems an ideal solution for some work-related problems. Working from home eliminates commuting time and expense, reduces day-care problems and requires less office space. But along with the benefits come some challenges:…
The Spoof that Can Harm Your Business
Your business spends a great deal of time and effort preserving brand integrity and keeping your customers satisfied. But there is an insidious Internet crime that can ruin your company’s goodwill and cost you a fortune. AOL and PayPal Pretenders In one scam, PayPal customers received e-mail messages with the company logo claiming that due…
ERISA Basics for Employers
If you’re a U.S. employer and you offer any kind of pension benefit to your employees, it’s critical that you have an understanding of the Employee Retirement Income Security Act of 1974 (ERISA). The failure to know and fulfill your obligations and responsibilities under the landmark law may lead to significant liability. Background and Origin…
Set Up Strict Oversight of Contract Compliance
Government contracts generally require stringent internal oversight measures to ensure that your buisness complies with contract terms and conditions – as well as the expectations of the government agency. For example, contracts generally require close internal management and control of estimates, material management and accounting systems. Here Are Four Tips: Obtain the guidance used by…
New Law Eases the Individual Alternative Minimum Tax
Unfortunately, the Tax Cuts and Jobs Act (TCJA) retains the individual Alternative Minimum Tax (AMT). But there’s a silver lining: The AMT rules now reduce the odds that you’ll owe the AMT for 2018 through 2025. Plus, even if you’re still in the AMT zone, you’ll probably owe less AMT than you did under the…
To Retain Top Talent, Adopt Total Compensation Statements
Do your workers understand the full extent of the contributions you make to their financial security? Employees understand the cash compensation they receive each payday. But studies show that few workers grasp just how much their employer pays into health insurance, pension plans, employer matches, group wellness plans, employee assistance plans and other costly workplace…
Beware of Penalties in Transactions With Not-for-Profits
Tax law provisions and IRS regulations may have a significant impact on improper transactions between top officials and a tax-exempt organization. Under old rules from years ago: When the IRS determined that a top official engaged in a transaction and received an unfair benefit given his or her position in the organization, the only recourse…
Impress Your ‘Suitors’ With Financial Information
Attracting funding organizations and large individual contributors to donate money to your not-for-profit organization is a little like finding a spouse — you want to create the best impression during the courtship in the hope that the other person will find you to be a “good catch” and make a commitment. The financial information on…
Tax Law Ends Alimony Deductions after 2018
In divorce situations, an ex-spouse may be legally obligated to make payments to the other party. Since payments are often substantial, locking in tax deductions for the payer has often been important and involved a substantial amount of money. Before the Tax Cuts and Jobs Act (TCJA) was enacted, payments that met the tax-law definition…
Maximize Social Security Benefits When You Retire
Get the most from Social Security. Younger retirees face a harsh penalty for working part-time. For every $2 earned over $17,040 in 2018 (up from $16,920 in 2017), you lose $1 in Social Security benefits. In the year you reach full retirement age, a higher earnings threshold applies. Your benefits will be reduced by $1…