You May Have to Pay Tax on Social Security Benefits
During your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you start receiving Social Security benefits, you may be surprised to learn that [...]
California Gives Veterans a Boost
The CA Employment Development Dept. has awarded $5 million in Veterans’ Employment-Related Assistance Program grants. The grants are expected to help about 1,200 veterans secure jobs. “EDD is proud to provide California veterans with the [...]
Bartering: A Taxable Transaction Even if Your Business Exchanges No Cash
Small businesses may find it beneficial to barter for goods and services instead of paying cash for them. If your business engages in bartering, be aware that the fair market value of goods that you [...]
Grading the Performance of Your Company’s Retirement Plan
Imagine giving your company’s retirement plan a report card. Would it earn straight A’s in preparing your participants for their golden years? Or is it more of a C student who could really use some [...]
Which Entity is Most Suitable for Your New or Existing Business?
The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax rate for C corporations. Under prior law, profitable C corporations [...]
If Your Kids Are Off to Day Camp, You May be Eligible for a Tax Break
Now that most schools are out for the summer, you might be sending your children to day camp. It’s often a significant expense. The good news: You might be eligible for a tax break for [...]
California Franchise Tax Board has Launched New Website
A new California state website just went live, with new features. As the CA Franchise Tax Board announced not long ago, its new website went live on Sunday, June 23. The site focuses on tasks, [...]
Put a Number on Your Midyear Performance with the Right KPIs
We’ve reached the middle of the calendar year. So how are things going for your business? Conversationally you might say, “Pretty good.” But, analytically, can you put a number on how well you’re doing — [...]
Is an HSA Right for You?
To help defray health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs). With these accounts, individuals can pay for certain medical expenses on a tax advantaged [...]
2019 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply [...]