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Giving Gifts to Employees? IRS Wants Its Share.
Does your business reward employees with bonuses and gifts? These gifts, as well as fringe benefits, may have tax consequences for your company and the recipients. While it's not impossible for an employer to give a tax-free gift to an employee, it is difficult to do, as one Tax Court case illustrates. Educate your employees about the tax implications of bonuses, fringe benefits and perks to prevent a backlash of employee dismay at tax time. Click "Full Article" for a look at the issue.
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Don't Overlook a Roth IRA if You're Self-Employed
Roth IRAs have a number of unique benefits but many eligible people don't take advantage of them. Don't miss out on this tax-saving vehicle because you assume you don't qualify or you believe your tax rate during retirement won't be very high. In this article, we explain why these assumptions might be wrong and how you might be able to build a substantial retirement fund with a Roth IRA that will be free from federal income taxes.
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Eight Tax Breaks for 'Going Green'
These days, it seems everyone is talking about protecting the environment. Businesses are no exception. Here are eight tax breaks your organization might be able to claim for "going green".
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