Author: taxsecretsblog

Article Highlights: De Minimis Fringe Benefits Cash Gifts Gift Certificates Group Meals FICA and Wage Withholding It is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a fair market value so low

December 2022 Individual Due Dates December 1 - Time for Year-End Tax Planning December is the month to take final actions that can affect your tax result for 2022. Taxpayers with substantial increases or decreases in income, changes in marital status or dependent status, and

Article Highlights: Watch Out for Holiday Gift Scams Gifts with Tax Benefits Gift of College Tuition Qualified Tuition Programs Qualified Charitable Distribution Donor-Advised Funds Work Equipment Employee Gifts Monetary Gifts to Individuals Documentation Timing The holiday season is customarily a time of giving gifts, whether

If you had to make a list of some of the most successful video games of the mobile era, "Angry Birds" would undoubtedly be right at the top. According to one recent study, it has been downloaded more than four billion times as of 2019

There's an old saying that reminds us that there are only two certainties in this life: "death, and taxes." Whoever coined that phrase couldn't have known how true it was, particularly when it comes to the latter portion. The Internal Revenue Service recently came out

Article Highlights: Employing a Child Child Payroll Taxes FUTA Tax for a Child Child IRA Contributions Child Tax-Free Income Spouses Working in the Same Business Partnership Spousal Joint Venture Spouse Employee Along with the holidays comes a lot of extra work for many family-run businesses,

Over the last decade, in particular, the definition of the term "career" has changed. Rather than being employed by a single entity for which you receive a W2 at the end of the year, many are now participating in the "gig economy" in a variety

Article Highlights: Benefits Sunsetting After 2021 Benefits Sunsetting After 2022 Not Needing to File May Be an Opportunity Maximize Education Tax Credits Employer Health Flexible Spending Accounts Maximize Health Savings Account Contributions Roth IRA Conversions Avoid Required Minimum Distribution (RMD) Penalties Recognizing Capital Losses Take

If you've been following the news recently, you're no doubt aware of a massive round of layoffs that struck one of the most popular social media sites in existence, Twitter. Under the direction of new owner Elon Musk, it was estimated that as many as

According to one recent study, there is a 96% chance that the United States will experience some form of economic recession within the next 12 months. If you needed a single statistic to underline the importance of planning ahead when it comes to your business,