by angieduran | Dec 19, 2024 | Uncategorized
There are two tax breaks that help eligible parents offset the expenses of adopting a child. In 2025, adoptive parents may be able to claim a credit against their federal tax for up to $17,280 of “qualified adoption expenses” for each child. This is up from $16,810 in...
by angieduran | Dec 19, 2024 | Uncategorized
You’ve likely already begun your manufacturing company’s 2025 budget planning. A comprehensive, realistic budget allows you to identify potential cash shortages, production capacity constraints and other threats. However, be aware of certain pitfalls when creating...
by angieduran | Dec 17, 2024 | Uncategorized
In April of this year, the U.S. Department of Labor (DOL) announced it was rolling out a new final rule on eligibility for overtime pay. The move prompted mixed reactions from observers, much concern among employers and, inevitably, legal challenges from its...
by angieduran | Dec 12, 2024 | Uncategorized
Annually, the IRS makes inflation-based cost-of-living adjustments (COLAs) to dollar limits applicable to many employer-sponsored fringe benefits for the upcoming year. Sure enough, in November, the tax agency published its COLAs in IRS Notice 2024-80. Here are some...
by angieduran | Dec 10, 2024 | Uncategorized
Medicare health insurance premiums can add up to big bucks — especially if you’re upper-income, married, and you and your spouse both pay premiums. Read on to understand how taxes fit in. Premiums for Part B coverage Medicare Part B coverage is commonly called...
by angieduran | Dec 9, 2024 | Uncategorized
The IRS has published final regulations for the Section 45X advanced manufacturing production credit. The final regs update several significant areas from the proposed regs released in late 2023. The credit in a nutshell The Sec. 45X credit was created by the...
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