Summer Hiring Tips
Summer brings warm weather, sunny days and summer hires. Students out of school for a few months are eager to work and businesses are eager to have them. Be prepared for the rush of additional customers with an increased short-term workforce and be sure to follow these tips to ensure you’re covered from all angles:…
If you’ve put your home on the market, you need to know the tax consequences of a sale
Summer is a common time to put a home on the market. If you’re among those who are following this trend, it’s important to be aware of the tax consequences. If you’re selling your principal residence, you can exclude up to $250,000 ($500,000 for joint filers) of gain — as long as you meet certain…
An Ounce of Prevention
Don’t sweat the small stuff – but be sure to plan for it. Oftentimes, businesses focus on a few selected risks rather than planning for all types of security threats. Visualizing several worst case scenarios, keeping the focus on the big picture and a healthy amount of planning will keep everybody on the same page…
Consider the Sec. 83(b) election to save tax on restricted stock awards
Restricted stock is stock that’s granted subject to a substantial risk of forfeiture. Income recognition is normally deferred until the stock is no longer subject to that risk or you sell it. You then pay taxes on the stock’s fair market value at your ordinary-income rate. But you can instead make a Section 83(b) election…
Cut the Fat from Next Year’s Tax Bill Now
With your 2013 tax return just fading from the rearview mirror, your last thought is likely about your 2014 return. Mid-year planning is particularly important for high-income taxpayers and anyone with substantial investment income. Here are a few reasons why: · A tax law that took effect last year imposes a new 39.6% marginal rate…
Who’s subject to the 50% limit on meal and entertainment deductions?
In general, when meal and entertainment expenses are incurred in the context of an employer-employee or customer–independent contractor relationship, one party will be subject to a 50% limitation on the deduction. But which party? Last year, the IRS finalized regulations that address this question. In the employer-employee setting: If the employer reimburses the employee for…
Commitment, Accountability, Performance & Vision
Have you ever considered the role your mindset plays in how you approach your leadership? Mindset can be defined as the attitudes, beliefs and expectations you hold that act as the foundation of who you are, how you lead and the ways in which you interact with your team. Your mindset: · Determines how you…
What to do with your old retirement plan when you change jobs
First and foremost, don’t take a lump-sum distribution from your old employer’s retirement plan. It generally will be taxable and, if you’re under age 59½, subject to a 10% early-withdrawal penalty. Here are three alternatives: 1. Stay put. You may be able to leave your money in your old plan. But if you’ll be participating…