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Put Compensation Front and Center
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," "how," "how much" and...read more
Can You Challenge Your Property Taxes?
Has your property tax bill increased significantly? Do you think you may have grounds for an appeal, particularly if the increase seems out of line with overall appreciation in your area? Property tax rules and policies are local, but in general, you have 90 days...read more
How to Avoid the Top 10 Estate Planning Errors
There are myths and misconceptions about estate planning. Here are the top common mistakes to avoid and help your family save thousands of dollars in unnecessary taxes and probate fees: Beneficiary omissions — Not naming contingent beneficiaries or failing to review...read more
Regarding Your Meals and Entertainment Expenses
With the passing of Tax Cuts and Jobs Act, the IRS made significant changes that will leave an impact on many business owners. Under the previous law, businesses were permitted to take a deduction of 50% for business meals and entertainment expenses. However, with the...read more
3 Essential HR and Payroll Metrics To Track
HR metrics are essential to evaluating the efficiency of your human resource policies, programs, procedures and initiatives. One executive, quoted in a Society for Human Resource Management article, said, "They're measuring how the HR function is doing as a whole and...read more
What’s New With the Kiddie Tax?
The kiddie tax — around since 1986 — came about as an effort to close a tax loophole for the wealthy. The idea was that taxing children's passive income at the same rate as their parents would eliminate a sneaky reallocation of money just to avoid taxes. Since the...read more
What Is an HECM Reverse Mortgage?
Not all reverse mortgages are the same. The home equity conversion mortgage, insured by the federal government, is available only through a Federal Housing Authority-approved lender. For homeowners 62 years of age or older with significant equity in a home, an HECM...read more
How to Decode Box 1 of Form W-2
Box 1 of Form W-2 shows the employee's total compensation that is subject to taxation for the year. Per an article published by Forbes, "This tends to be the number most taxpayers care about the most." Consequently, there's no room for error. Below are...read more
What Information Is Included on a Pay Stub?
Although the Fair Labor Standards Act (FLSA) does not require that you give employees a pay stub, it does mandate that you keep accurate records of employees' wages and hours worked. Also, many states require that employers supply employees with a pay stub. However,...read more
Socially Responsible Investing: The Wave of the Future?
Socially responsible investing (SRI) lets you target individual companies or socially conscious mutual funds. For example, you might look to avoid tobacco, alcohol or gambling firms, and instead support companies with a good track record in social justice,...read more