Are you currently using a retirement plan that’s helping you and your employees reach important retirement goals? Well, you should have one. And soon. (Read the full article for full details.) Why the rush? Because if you act by December 31, you’ll be able to put a business retirement plan in place, or make the switch to an extremely useful Roth IRA (if your income is … [Read more...]
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Now, Deduct 100% of Your Business Meals!
To get our complete, FREE articlewith all the details… Eat, drink, and be merry, because tomorrow you dine. Why should you be merry? Because thanks to a new law and new IRS regulations, all your business meals qualify for a 100% tax deduction! This includes restaurant meals, take-out, and delivery! Read the full, complete article for full details. Here’s the … [Read more...]
COVID-19 Relief Law Boosts Temporary Tax Deductions and Credits
Don’t miss my new article! In the new COVID-19 relief law, lawmakers enacted some extremely important legislation. It was designed to provide tax relief during the devastating COVID-19 pandemic. Some of the relief came in the form of direct government financial assistance.Most of the provisions of the law came in the form of extra deductions or tax credits that put … [Read more...]
Be Sure to Pay the PCORI Fee if You Have an HRA
What the heck is the pesky little PCORI fee you have to pay and why should you care? Here’s the short answer… If you’ve established a Health Reimbursement Arrangement (HRA) for your employees and/or your spouse, you’ve got to pay the small PCORI fee to Uncle Sam. (More details below.) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ A Quick Reminder.HRAs that you likely have come … [Read more...]
83(b): Restricted Stock Awards and Your Taxes
Two facts about stock options you should be aware of… FACT #1: Stock options can lose most or all of their value if the underlying stock goes down in price. FACT #2: In contrast, restricted stock awards retain significant value as long as the underlying stock has appreciated. So what does the tax law have to do with these facts? Plenty. There are important federal and … [Read more...]