Catch-up retirement plan contributions can be particularly advantageous post-TCJA
November 27, 2018 – Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? Then you may want to make “catch-up” contributions by the end of the year. Increasing your retirement plan contributions can be particularly advantageous if your itemized deductions for […]
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TCJA changes to employee benefits tax breaks: 4 negatives and a positive
May 6, 2018 – The Tax Cuts and Jobs Act (TCJA) includes many changes that affect tax breaks for employee benefits. Among the changes are four negatives and one positive that will impact not only employees but also […]
Meals, Entertainment and Transportation May Cost Businesses More Under the TCJA
January 29, 2018 – Along with tax rate reductions and a new deduction for pass-through qualified business income, the new tax law brings the reduction or elimination of tax deductions for certain business expenses. Two expense areas where the Tax Cuts and Jobs Act (TCJA) changes the rules — and not to businesses’ benefit — are meals/entertainment and transportation. In effect, the […]
What are the most tax-advantaged ways to reimburse employees’ education expenses?
July 13, 2017 – Reimbursing employees for education expenses can both strengthen the capabilities of your staff and help you retain them. In addition, you and your employees may be able to save valuable tax dollars. But you have to […]