- Video Tips: Watch Out for Improper ERC Claim Promotion
- Employers should be wary of third parties advising them to claim the employee retention credit when they may not qualify.
- Start Off on the Right Foot for the 2023 Tax Year
- Individuals and small businesses should consider various ways of starting off on the right foot for the 2023 tax year.
- Wonder What a Tax Deduction Is Worth?
- Individuals are always looking for tax deductions that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward answer because some deductions are “above the line”, others must be itemized, some must exceed a threshold amount before being deductible, and certain ones are not deductible for alternative minimum tax purposes, while business deductions can offset both income and self-employment tax. In other words, there are many factors to consider, and the tax benefits differ for everyone, depending on their particular situation and tax bracket.
- Video Tips: Employee Holiday Gifts May Be Taxable
- Under the right conditions, employee holiday gifts would be tax-free to the employee, and its cost is tax deductible by the employer.
- Status Of The Biden Administration’s Student Loan Forgiveness
- President Biden's student loan debt forgiveness plan was originally authorized by an executive order and announced on August 24, 2022. It subsequently hit a snag when two court cases put a hold on the plan, which was one of Biden’s campaign promises.
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