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How To Create a Business Succession Plan

2/15/2023

There is an unbelievable number of companies across a wide array of industries, which may lead you to believe that the creation of a succession plan must be a unique and one-off process. For instance, family businesses in particular carry distinctive cultures and reflect idiosyncratic histories in ways that might be challenging for outsiders to relate to, let alone understand.

4 Ways HR Technology Enhances Performance Management

2/15/2023

“Performance management is an ongoing process of communication between a supervisor and an employee that occurs throughout the year, in support of accomplishing the strategic objectives of the organization,” according to the University of California, Berkeley.

Roping Yourself to the Mast With a Robo Adviser

2/15/2023

Automated robo adviser software applications use algorithms to buy and sell securities according to predetermined user preferences. You tell the robo adviser your age, when you will need the money and your risk tolerance. You then sit back and let it automate.

Will Your Small Business Be Audited?

2/15/2023

Are you worried about the likelihood of your business being audited by the IRS? If so, there are a lot of preventive red flags that you can keep an eye out for when looking to protect your business from being the focus of an audit.

Tax and Finance Tips for Seniors

2/15/2023

The first tip is to always question where you are planning to get your advice from when it comes to tax and finance tips for seniors. There are a lot of scams out there — from incompetent and so-called experts to downright crooked "professionals." So says Julian Block, an attorney and former IRS special agent.

What To Know About Health Care Credits

2/1/2023

A premium tax credit is designed to lower the total cost of health insurance plans that are already relatively expensive in the United States. You can either apply the premium tax credit on a monthly basis to your insurance bill or choose to receive your premium tax credit in the form of a refund that is put toward your federal income taxes.

Just What Is a Conservatorship?

2/1/2023

While Britney Spears' conservatorship case and her multimillion-dollar fortune were extraordinary circumstances, her legal condition is not uncommon: Over 1.3 million U.S. adults are living under guardians or conservators, who control about $50 billion of their assets, according to the National Center for State Courts.

Business Owners May Face Special Compensation Rules

2/1/2023

S corporations allow the business to pass corporate income, losses, deductions and credits through to their shareholders for federal tax purposes. But with those great advantages come many rules, including those related to compensation. Shareholder-employees may think there's no practical difference between income as an owner and income as an employee, but they'd be wrong. The IRS demands that shareholder-employees define both income streams clearly, but it can be vague about how to do this.

Changes in Homeowners’ Deductions for Mortgage Interest and Taxes

1/18/2023

What are the rules that apply to deductions for interest payments on mortgages? They can get confusing.

What's the Latest on the Federal Excise Tax?

1/18/2023

The IRS explains that the excise tax is an indirect tax on specific goods, services and activities. The federal government typically imposes an excise tax on the sale of things like fuel, airline tickets, heavy trucks and highway tractors, indoor tanning, tires, tobacco, and other goods and services. Businesses that are subject to excise tax generally must file a Form 720, Quarterly Federal Excise Tax Return to report the tax to the IRS.

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