Cash In on the Unique NUA Tax Break

Benefits of company stock in retirement plans One frequent tax reform target is still on the books. It is a unique tax break available to employees, including business owners, who own company stock in their retirement plan. If you handle things right, you can avoid paying tax on the appreciation in the stock’s value, called
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The New Tax Law – Are C Corporations Now Better?

Since the President signed the Tax Cuts and Jobs Act on December 22, 2017, lowering the corporate income tax rate to 21%, one of the most frequent questions small business owners have had is “Should I convert to a C corporation?” The answer is “Perhaps, but we need to look at the big picture to
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Caution: Someone Is Watching You Online

How to discourage information tracking It can certainly feel like “Big Brother” is watching us with the way our online activities are being tracked. Typically, the information is being gathered for legitimate marketing means, but that will not necessarily make you feel any better. What’s more, tracking increases your exposure to potential identity theft. You
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How to Support Your Charitable Deductions

Follow recordkeeping rules for donations Charitable deductions are often treasured by high-income taxpayers who itemize deductions on their personal returns. But your deductions are at risk if you do not have the requisite proof to back up your claims. Worst-case scenario: You are forced to forfeit all or part of your charitable deduction for 2017 if the
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Five Ideas for a 2018 Business Plan

Practical suggestions for the year It is 2018 … do you know where your business plan for this year is? Developing a business plan for the upcoming year is a laborious task, but it is often critical to the continued success of the operation. Although the details will vary from company to company, the best
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Seven Time-tested Year-end Tax Tactics

Practical approaches for individuals At this point, it is still uncertain whether any significant tax reform will be enacted this year. Keeping that in mind, individual taxpayers may stick with “tried-and-true” methods to reduce taxes owed at year-end. Here are seven prime examples: 1. Harvest capital gains or losses. Typically, you might realize capital gains or
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New Cases Concerning Family Medical Leave

Three recent rulings focus on key issues The Family and Medical Leave Act (FMLA) concerns when an employee can take extended time off from work. Three new cases point out the need for both employers and employees to understand the rules. Background: Under the FMLA, an eligible employee is entitled to take up to 12 weeks
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Five Year-end Moves for Small Businesses

Top ideas for your business operation As with individuals, year-end tax planning for businesses remains somewhat uncertain. However, the Protecting Americans from Tax Hikes (PATH) Act of 2015 preserved certain tax benefits that can be incorporated into a logical year-end plan. Here are five ideas for small-business owners to consider: 1. Speed up equipment deductions. Under
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Minding Your Business Manners

Steps to improve workplace etiquette All too often these days, workers exhibit rude, inappropriate or self-absorbed behavior. Sadly, in many places of business across the country—including boardrooms, offices and plant floors—appropriate business etiquette is not being observed. What’s more, bad behavior might lead to confrontation and even violence that can threaten someone’s well-being and the
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Twists and Turns to Charitable Rollovers

Special tax break for older taxpayers If you are “of a certain age,” you may benefit from a unique tax break. Under a special tax law provision, an individual age 70½ or older can transfer a significant amount of funds directly from an IRA to a qualified charitable organization without paying any tax on the distribution.
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