Subject to a phaseout, an eligible small employer may claim a credit of up to 35% of the noneletive  contributions for its employees before 2013 and increases to 50% after 2013. A qualified employer cannot have more than 25 employees and this credit only applies to non-owners. and those businesses with average annual wages per

These required minimum distributions must start in the year the IRA owner becomes 70.5 yrears of age or there will be penalties. The IRS can assess a excess accumulation penalty of 50%  of what was accumulated over what should have been retained. That can be painful. The only exception to this is when your spouse

For moves within or to the US, including moving and storing goods for up to 30 days after being moved, a deduction can be taken providing the move was at least 50 miles more than the distance from the old job location and the new one. And the employee must work for at least 39

Primarily it takes a divorce decree or a separate maintenance agreement issued incident to a divorce, or a written separation agreement and a specified dollar figure and when to be made toe the other ex-spouse.

There are several best tax deductions: The first is to have your own corporation, as many expenses are both personal and business and the business aspect becomes a write off. This is the best. The second one is a deductible retirement plan like a 401k or IRA where the money you put into it becomes

One way to keep your employees happy and not have them going elsewhere is to start a cafeteria plan where their benefits become non taxable. Consider the  following: Small Employers May Establish “Simple Cafeteria Plans” Under a cafeteria plan, an employer may offer a menu of nontaxable benefits and cash (or certain other taxable benefits)

As a parent with college-bound children, you are concerned with setting up a financial plan to fund future college costs. If your children are already college age, your goal is to pay for current or imminent college bills. I’d like to address both of these concerns by suggesting several approaches that seek to take maximum

Everyone has important decisions to make concerning health care coverage in 2014.  Starting in 2014, you must choose to either have basic health insurance coverage (known as minimum essential coverage) for yourself and everyone in your family for each month or go without health care coverage for some or all of the year. If you don’t maintain

The IRS is a documenting agency. You have the documents and they have to give the deduction and there are no two ways about it. But without the documents, they give us nothing. They do not believe us. So we have to prove it. First, you must get a receipt from the charity with the

The IRS does not like these at all. Where a skybox is leased for more than one sporting event, the amount allowable is limited to a deduction for one regular seat and then reduces this by 50% as it is entertainment as well.