- Never Make These 9 Mistakes with Exempt Employees
- The federal Fair Labor Standards Act (FLSA) requires employers to pay most employees overtime pay for all hours worked in excess of 40 in a workweek (some states require overtime in additional situations), with exemptions for certain employees. Here are 9 mistakes to avoid when paying your exempt employees.
- Complications to the IRA-to-Charity Distribution Provision
- Individuals are required to begin taking distributions from their IRA when they reach a certain age. That age was 70½ until Congress passed the SECURE Act in late 2019 which made significant changes to the retirement plan provisions of the tax code, one of which was to up the age for beginning required minimum distributions (RMD) to age 72. That change was supposed to occur with 2020 distributions, but due to the Covid-19 pandemic, Congress waived RMDs for 2020. So, 2021 is actually the first year that the age 72 rule is effective.
- Business Success Stories > The Explosive Growth of Zoom.
- The background of how user experience and the pandemic combined to make Zoom an established software power. Learn more below.
- Our Olympic Champs Get a Tax Break
- You may not realize this, but in addition to winning an Olympic medal, winners are compensated by the U.S. Olympic Committee with prize money: $37,500 for winning a gold medal (up from $25,000 in the 2016 games). Prize money for winning a silver medal is $22,500 (up from $15,000 in 2016) and $15,000 for a bronze medal (up from $10,000).
- Video Tip: Tax Ramifications of Disposing of an Old Vehicle
- Watch this video for a quick overview of what you can do with your old car and how that will affect your taxes.
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