Are tax savings expensive?
Everyone wants to save tax dollars, but at what cost? Tax savings usually require you to do one of two things with your hard earned cash, give up the use of it or give it away. Many tax savings vehicles make more financial sense when you have built up enough wealth to fund them. Ideally, [...]
Frequent Flyer Miles – Taxable or Not?
As if the pain of flying today was not enough, now we can add the pain of trying to determine whether receiving frequent flyer miles is a taxable event or not. Most of us who fly frequently are excited to receive miles either for flights we take or purchases we make on our airline credit [...]
Mini COBRA Insurance Coverage
Here’s a question that has recently come up with some of our clients – What is Mini COBRA? First of all, let’s talk about COBRA itself. COBRA is a program by the federal government that gives all employees the opportunity to continue their insurance coverage if they become unemployed. This federal COBRA law [...]
Small Business Health Care Credit
Are you a small employer…… With fewer than 25 full-time equivalent employees? That pays an average wage of less than $50,000 a year? And pays at least half of employee health insurance premiums? ….then this tax credit may be for you. Check out this IRS Tax Tip. Need help to determine if you qualify? Or [...]
Payroll Tax Cut Extension 2012
On the evening of Feb. 22 at the White House, President Barack Obama signed into law the Middle Class Tax Relief and Job Creation Act of 2012, H.R. 3630. On Feb. 23, the IRS released a revised Form 941, Employer’s Quarterly Federal Tax Return, to reflect the extended payroll tax cut. The act extends the [...]
