Take Steps to Avoid this Tax “Gotcha”
Last summer the Trade Preferences Extension Act (TPEA) was signed into law, giving the President fast-track trade authority. But like many complex pieces of federal legislation, some provisions buried deep […]
How to Protect Yourself from Underpayment Penalties
You can be subject to penalties if you don’t pay enough tax during the year through estimated tax payments and withholding. Here are some strategies to protect yourself: Know the […]
Have You Misclassified Employees As Independent Contractors?
An employer enjoys several advantages when it classifies a worker as an independent contractor rather than as an employee. For example, it isn’t required to pay payroll taxes, withhold taxes, […]
Were Your 2013 Roth IRA Distributions Taxable?
Did you take a distribution from a Roth IRA during 2013? If so, you may not have been thinking about income tax consequences, as one often-touted benefit of Roth IRAs […]
Think Twice Before Taking Early Withdrawal From Retirement Plan
If you’re in need of cash, early retirement plan withdrawals generally should be a last resort. With a few exceptions, distributions before age 59½ are subject to a 10% penalty […]
“Play or Pay” Compliance Deadline Extended for Employers
The Patient Protection and Affordable Care Act of 2010’s shared responsibility provision, commonly referred to as “play or pay,” was scheduled to take effect Jan. 1, 2014. But on July […]
Setting the Salaries and Benefits of Your Executives
Rules known as “intermediate sanctions” allow the IRS to assess penalties against nonprofit executives who receive excess compensation — and the board members who approve it. Do you and your […]
Are Your Workers Independent Contractors or Employees?
Do you hire independent contractors to help with business tasks? Are you sure those workers are independent contractors — or should you be treating them as employees? As expanded employer […]
Play or Pay: 3 Questions to Ask About Health Care Act Penalties
The Patient Protection and Affordable Care Act of 2010’s shared responsibility provision, commonly referred to as “play or pay,” was scheduled to take effect Jan. 1, 2014. But on July […]
Are You Prepared for the Health Care Act’s “Play or Pay” Provision?
The Patient Protection and Affordable Care Act of 2010’s shared responsibility provision, commonly referred to as “play or pay,” is scheduled to take effect Jan. 1, 2015. It doesn’t require […]