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Starting a New Job
In the past, workers stayed with the same company for years and years, working their way up in the company. However, times have changed. Businesses facing hard economic times restructure, forcing employees to look for new jobs. It's also become common for workers to...
Employee Retention using Fringe Benefits
Fringe benefits may be defined as noncash compensation benefits provided by employers to their employees. Fringe benefits may take a variety of forms, including accident and health benefits, group-term life insurance coverage, dependent care assistance, employee...
Required Distributions – Changes You Should Know
The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 changed the rules for taking distributions from retirement accounts inherited after 2019. The so-called 10-year rule generally requires inherited accounts to be emptied within 10 years of...
Roth IRA Planning
A Roth individual retirement account (IRA) is a personal savings plan that offers certain tax benefits to encourage retirement savings. Contributions to a Roth IRA are never tax deductible on your federal income tax return, which means that you can contribute only...
Using Donor-Advised Funds as a Charity Planning Tool
Do you give money to your church? Do you get a tax benefit from those donations? How about your donations to other charities? Recent changes in the tax code have done much to destroy your benefits from church and other tax-deductible 501(c)(3) donations. But there’s a...
Education Tax Credits and Deductions
For parents and students trying to manage college bills and student loan payments, the federal government offers education-related tax benefits. The requirements for each are different, so here's what you need to know. American Opportunity credit The American...