Recent News
Give financial gifts this holiday season
Filed Under: Your Finances on November 26, 2008
When planning gifts for children on your holiday list, you might want to think beyond the traditional retail offerings. Consider financial gifts that can bestow benefits for many years to come.
What’s New in Finances: HSA limits increase for 2009
Filed Under: Your Finances on November 26, 2008
Health Savings Accounts (HSAs) allow taxpayers with high-deductible health insurance to set aside tax-deductible dollars that can be used tax-free to pay unreimbursed medical expenses. The amount that can be contributed each year to an HSA is adjusted annually for inflation.
Read more of “What’s New in Finances: HSA limits increase for 2009”
Employee embezzlement: Are you taking steps to prevent theft in your business?
Filed Under: Business on November 26, 2008
Employee embezzlement and other forms of theft often follow a predictable pattern. First, the employee is faced with significant external pressures such as high gambling debts, mounting medical bills, or substance abuse problems. To relieve this pressure, he or she finds an opportunity to steal from the company, especially if the firm’s internal controls are perceived to be weak. From there, it’s easy to rationalize fraudulent behavior—“I’ll just take some money now, and pay it back later.” or “I deserve a raise, but management’s stingy, so I’ll provide it myself.” or “They’ve got plenty. They’ll never miss it.”
Read more of “Employee embezzlement: Are you taking steps to prevent theft in your business?”
New Business: IRS releases new per diem travel rates
Filed Under: Business on November 26, 2008
If you’re in business, you probably know expenses for business travel, meals, and entertainment must meet strict tests in order to be deductible. In addition, you must have records to substantiate the expenses.
Read more of “New Business: IRS releases new per diem travel rates”
Will your gifts bring a tax surprise?
Filed Under: Taxes on November 26, 2008
When it comes to gift giving, surprises are part of the pleasure. When it comes to gift taxes, surprises are the last thing you want. To help protect you from the unexpected, here are answers to common questions about federal gift tax law.
What’s New in Taxes: Lean-burn vehicle credit
Filed Under: Taxes on November 26, 2008
The IRS recently announced that certain advanced lean-burn technology vehicles will qualify for the alternative motor vehicle tax credit. Previously, only hybrid, fuel cell, and alternative fuel vehicles qualified.
Read more of “What’s New in Taxes: Lean-burn vehicle credit”
Major Tax Deadlines For December 2008
Filed Under: Taxes on November 26, 2008
* December 15 - Fourth estimated tax payment is due for calendar-year corporations.
* December 31 - Last day to set up a Keogh retirement plan for 2008. Deductible contributions for 2008 can be made any time up to the filing deadline for your 2008 return.
* December 31 - Deadline for taking required minimum distributions from IRAs and other retirement accounts.
* December 31 - Deadline to complete 2008 tax-free gifts of up to $12,000 per recipient.
* December 31 - Deadline for paying expenses you want to be able to deduct on your 2008 income tax return.
Got mutual funds? Pay attention to year-end tax issues
Filed Under: Your Finances on November 06, 2008
If you’re among the millions of Americans who invest in mutual funds, you need to be aware of the year-end issues that could affect your 2008 tax bill.
Read more of “Got mutual funds? Pay attention to year-end tax issues”
What’s New in Business: Social security taxable wage base will increase in 2009
Filed Under: Business on November 06, 2008
The amount of wages subject to social security tax will increase next year to $106,800, up from $102,000 for 2008. The Social Security Administration estimates that 11 million taxpayers will pay higher taxes as a result.
Read more of “What’s New in Business: Social security taxable wage base will increase in 2009”
Low-cost benefits can boost employee morale
Filed Under: Business on November 06, 2008
Fringe benefits are important to your employees. Wage levels often don’t differ much between companies, so the fringes you offer can be an important factor in hiring and retaining workers.