If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick rundown of the rules Renting out a home or apartment that you own may result in a tax loss for you, even if the rental income is more than your...
Why Leadership Training Matters Leaders lead; it’s as simple as that, right? Not exactly. A relatively small percentage of employees promoted or thrust into leadership roles have the natural, innate ability to lead in a compassionate, measured way. Most others lack...
Is your business ready to take its health care benefits to the next level? One way to do so is to supplement group health coverage with an Excepted Benefit Health Reimbursement Arrangement (EBHRA). Here are some pertinent details. Rules to follow Under a traditional...
What Is a 529 Education Plan If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 education plans. These plans, named for the Internal Revenue Code section that...
They say it came from TikTok. If you’ve heard or read the term “quiet quitting” recently, you might have wondered what it means and why everyone seems to be talking about it. Simply defined, quiet quitting is when employees show up for work but basically stop trying....
Many small businesses start out as “lean enterprises,” with costs kept to a minimum to lower risks and maximize cash flow. But there comes a point in the evolution of many companies — particularly in a tight job market — when investing money in employee benefits...
Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how the interest you earn is taxed. And if they reach final maturity, what action do you need to take...
Late last year, the Consolidated Appropriations Act, 2023 (CAA 2023) was signed into law. Much of the discussion about this massive “omnibus” spending package has centered on the Setting Every Community Up for Retirement Enhancement 2.0 Act, a law within the package...
Innovation Shouldn’t Scare People Business owners often find the greatest obstacle to innovation isn’t the change itself, but employees’ resistance to it. Their hesitation or outright defiance is frequently driven by fear. Some workers might worry about how the...
As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA) when you reach age 72. The rules for taking required minimum distributions (RMDs) are...
