Feeling Generous at Year End? Strategies for Donating to Charity or Gifting to Loved Ones
As we approach the holidays, many people plan to donate to their favorite charities or give money or assets to their loved ones. Here are the basic tax rules involved in these transactions. Donating [...]
Protect Your Business with a Cybersecurity Assessment
Years ago, it may have seemed like only government agencies with top-secret intel or wealthy international banks had to worry about hackers. Nowadays, even the smallest small business could see its reputation ruined by a [...]
Many Factors are Involved When Choosing a Business Entity
Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for you — a C corporation or a pass-through entity [...]
Factor in Taxes if You’re Relocating to Another State in Retirement
Are you considering a move to another state when you retire? Perhaps you want to relocate to an area where your loved ones live or where the weather is more pleasant. But while you’re thinking [...]
What Business Owners Should Know About Stop-Loss Insurance
When choosing health care benefits, many businesses opt for a self-insured (self-funded) plan rather than a fully insured one. Why? Among various reasons, self-insured plans tend to offer greater flexibility and potentially lower fixed costs. [...]
Happy Halloween from the Team at Linkenheimer!
Happy Halloween from the quirky team at Linkenheimer! We hope you all have a safe, fun holiday!
Thinking About Participating In Your Employer’s 401(k) Plan? Here’s How It Works
Employers offer 401(k) plans for many reasons, including to attract and retain talent. These plans help an employee accumulate a retirement nest egg on a tax-advantaged basis. If you’re thinking about participating in a plan [...]
California Tax Updates for 10/28
Update 1: Required supplemental paid sick leave (SPSL) related to COVID-19 expired in California on Sept. 30, 2021. Specifically, that leave was required of employers with at least 26 employees. However, a number of CA [...]
Employers: The Social Security Wage Base is Increasing in 2022
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income above this threshold aren’t subject [...]
You May Owe “Nanny Tax” Even If You Don’t Have a Nanny
Have you heard of the “nanny tax?” Even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or other household employee (who isn’t an independent contractor) may make [...]