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Tag: tax


Business Law & Regulations, Employment & Labor, Tax Code, Regulations and Guidance

Employer Payroll Taxes: The True Costs of Hiring a New Employee

August 6, 2018

Via: Fit Small Business

Employer payroll taxes are calculated by combining 50 percent of Social Security taxes (12.9 percent of employee wages), 50 percent of Medicare taxes (2.9 percent), and 100 percent of federal and state unemployment taxes. While you can make these calculations […]


Tax Code, Regulations and Guidance

How Is Cost Basis Calculated on an Inherited Asset?

July 25, 2018

Via: Investopedia

An inheritance tax is a tax that may be imposed on a person who inherits the estate of a deceased person. The rate at which the inheritance is taxed depends on the value of the inheritance and the relationship of […]


Business Law & Regulations, Finance, Financing your Business

Noncurrent Liabilities

June 27, 2018

Via: Investopedia

What are ‘Noncurrent Liabilities’ Noncurrent liabilities, also called long-term liabilities, are long-term financial obligations listed on a company’s balance sheet that are not due for settlement within one year – as opposed to current liabilities which are short-term debts. BREAKING […]


Tax Code, Regulations and Guidance

Supreme Court: employee stock options ‘non-taxable’ under Railroad Retirement Tax Act

June 21, 2018

Via: Jurist

[JURIST] The US Supreme Court [judicial website] ruled [opinion, PDF] 5-4 on Thursday that employee stock options given to railroad workers were not taxable under the Railroad Retirement Tax Act of 1937 [text] because employee stock options are not money. […]


Tax Code, Regulations and Guidance

Feeling Confused by the New Tax Law’s Small Business Provision? You’re Not Alone.

June 20, 2018

Via: Entrepreneur

I’ve been a small business accountant for 30 years, long enough to see just about all there is to see when it comes to the U.S. tax system. But, never in my three decades have I seen the level of […]


Tax Code, Regulations and Guidance

Seattle city council repeals tax on businesses

June 13, 2018

Via: Jurist

[JURIST] Seattle’s city council voted on Tuesday to repeal a proposed tax on businesses, in which large businesses would have been taxed [press release] $275 for every full-time employee, with the revenue going towards Seattle’s homeless population. The city council […]


Tax Code, Regulations and Guidance

Thanks to the New Tax Law There’s Never Been a Better Time to Hire Your Kid

June 8, 2018

Via: Entrepreneur

As a certified public accountant, I often get asked for ways to save on taxes. Thanks to the new tax reform bill, there are puh-lenty. But there’s one tax benefit in particular that I’ve been recommending to business owners of […]


Tax Code, Regulations and Guidance

New Tax Laws Make Muni Bonds Appealing

June 8, 2018

Via: Investopedia

Investors fearful of the new cap on federal deductions of state and local taxes may find that municipal bonds offer a promising investing strategy. Because the new tax law limits these deductions to $10,000, everyone with state/local tax bills that […]


Tax Code, Regulations and Guidance

Understanding the Insurance Transfer-for-Value Rule

June 6, 2018

Via: Investopedia

One of the key benefits of any kind of life insurance is the tax-free death benefit. However, some speculators began to transfer life insurance policies between parties to reap large tax-free windfalls. To discourage this, Congress declared any life insurance […]


Tax Code, Regulations and Guidance

Fidelity: Software Stocks to Benefit From Tax Cuts

May 30, 2018

Via: Investopedia

With many observers predicting that the economy is at the late stage of its cycle, some industries tend to perform better than others under these conditions. One such group, according to Fidelity Investments, is software stocks. After all, thanks to […]