If you travel a lot for business and have been considering the purchase of your own aircraft, you’ll want to be aware of the basic tax rules: In most cases, if you use the plane only for ordinary and necessary…
The 2021-2022 Aflac WorkForces Report highlights some trends in employee benefits that have occurred due to the pandemic. The report reflects an increase in employee interest in supplemental benefits such as life insurance, critical illness, accident, and disability coverage. These…
Many of us make new year’s resolutions – new habits we want to cultivate in order to achieve our goals. Amid your weight loss and other self-improvement intentions, here are some financial goals to consider: Review your investments. With market…
There’s still time before the end of this year to execute a few strategies to reduce your 2021 tax liability. Here are a few ideas: Take advantage of bonus depreciation. If you purchase new or used equipment, machinery, or office…
Each year, the government updates certain dollar limits for inflation. Here are the new numbers for 2022 along with some explanatory information: Payroll Taxes The Social Security Taxable Wage Base has increased to $147,000. Both employees and employers contribute to…
As part of coronavirus relief legislation, self-employed individuals and household employers were allowed to defer the payment of certain Social Security taxes for the tax year 2020 over two calendar years. Half of this tax is due by the end…
We’re closing in on the end of 2021, and it’s a time when many people consider making year-end gifts to charities and family members. When you transfer cash or other assets to someone else, it may be subject to the…
Many parents struggle to find the balance between setting aside money for their own retirement accounts or to help fund a child’s college education. Here are some things to consider: Retirement Savings If your main retirement savings vehicle is a…
A new law has retroactively ended the Employee Retention Credit (ERC) to apply only through September 30, 2021 (rather than through December 31, 2021) — unless the employer is a recovery startup business. The Infrastructure Investment and Jobs Act, which…
A target date fund (TDF) is a mutual fund or exchange-traded fund made up of multiple underlying investments designed to meet an investor’s future financial goal, such as retirement or saving for college expenses. The name of these funds often…