by angieduran | Jun 5, 2021 | Uncategorized
The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account...
by angieduran | Jun 3, 2021 | Uncategorized
A health care plan with fewer than 50 participants that’s administered by a sponsoring employer may have fewer compliance hassles. That’s because it’s excluded from the definition of a “group health plan” under administrative simplification provisions of the Health...
by angieduran | May 12, 2021 | Uncategorized
Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be a costly error. It can be complex to...
by angieduran | May 5, 2021 | Uncategorized
Many businesses provide education fringe benefits so their employees can improve their skills and gain additional knowledge. An employee can receive, on a tax-free basis, up to $5,250 each year from his or her employer for educational assistance under a “qualified...
by angieduran | Apr 28, 2021 | Uncategorized
Are you wondering whether alternative energy technologies can help you manage energy costs in your business? If so, there’s a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of many types of alternative energy property....
by angieduran | Apr 26, 2021 | Uncategorized
Under the Internal Revenue Code, an employer would typically be penalized for failing to deposit certain federal employment taxes by the designated deadline. Examples include deposits of withheld income taxes and FICA taxes. However, the IRS recently provided...
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