In theory, parents can get as specific as they want, deciding which children and grandchildren should get the fancy lamp from the living room or the painting of the ship in the dining room. But
As many discovered with the last tax season, it was more beneficial to take the standard deduction and forgo itemized deductions. Then again, you may feel that your expenses exceed standard deduction amounts. Taxpayers will
Although most arbitrators are lawyers or retired judges, increasing numbers of CPAs are serving as arbitrators to expand the services they provide. The CPA’s reputation for objectivity, knowledge, skills, and consulting experience collectively make arbitration
Many IRA and retirement plan limits are indexed for inflation each year. On November 6, 2019, the IRS (Notice 2019-59) announced the inflation-adjusted numbers for 2020. The maximum IRA contribution for 2020 is $6,000, unchanged
In theory, a compensation philosophy is a formal written statement that reveals the company’s stance on employee pay and rewards. Compensation philosophies vary from company to company. However, they often involve addressing the “what,” “why,”
Maybe your job, even your entire sector, has disappeared in 2020’s economic turmoil. Or perhaps you are just reaching a point at which you are ready to take the next step in your life. It’s
The technology for touchless payments (also called “tap” or “contactless”) has been around for a while, but customers continued to prefer the tactile experience of punching a PIN pad or signing with a pen. With
Although most wages are subject to SUTA tax, certain wages may be exempt. In New York, for example, wages paid to babysitters under 18 years of age, church employees, and certain family members are exempt
What are the tax implications of an inherited traditional IRA? Tax rules differ depending on whether or not the beneficiary is a spouse. Be sure you know the rules, because your decisions may have serious
Employers are required to withhold federal income tax from all employees’ wages unless the employee is exempt from federal income tax. The withholding amount is based on the employee’s taxable wages, marital status and number
