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Prior Articles
2025 fringe benefit COLAs: Key figures for employers
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...
Your guide to Medicare premiums and taxes
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...
The IRS issues final regs for the advanced manufacturing production credit
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...
Update on the Corporate Transparency Act: Nationwide Injunction Temporarily Blocks Enforcement
On December 3, a federal district court in Texas issued a preliminary injunction that temporarily halts enforcement of the Corporate Transparency Act (CTA) across the United States. This broad ruling comes just weeks ahead of the January 1, 2025, deadline, which...
Senior tax-saving alert: Make charitable donations from your IRA
If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you gain tax advantages. QCD basics QCDs can be made from your traditional IRA(s) free of federal income...
Assessing the ACA-defined affordability of employer-sponsored health plans
As the year winds down, many employers have wrapped up open enrollment and are preparing to administer their 2025 benefits packages. When it comes to health insurance, one thing your organization should always keep an eye on is compliance with the Affordable Care Act...
Every employer must find the right approach to pay raises
As 2024 winds to a close, employers need to strategize about various issues for the next calendar year. One of them is compensation — specifically, how to handle pay raises. In its 2024-2025 Salary Budget Survey, compensation management platform provider Payscale...
Create a business continuity plan before the next crisis affects your manufacturing company
In the wake of the pandemic and the ongoing threat of natural disasters, a business continuity plan is a must for manufacturing companies. Your plan should outline the immediate steps to be taken in the event of a crisis and be flexible enough to allow your company to...
Get tax breaks for energy-saving purchases this year because they may disappear
The Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want to take advantage of them before it’s too late. On the campaign trail, President-Elect Donald Trump pledged to “terminate” the law and...
How to handle the changes to R&E tax treatment
The Tax Cuts and Jobs Act (TCJA) included a significant — but delayed — change to the tax treatment of research and experimentation (R&E) expenses under Internal Revenue Code (IRC) Section 174. To the surprise of many experts, Congress failed to act before the...
The nanny tax: What household employers need to know
Hiring household help, whether you employ a nanny, housekeeper or gardener, can significantly ease the burden of childcare and daily chores. However, as a household employer, it’s critical to understand your tax obligations, commonly called the “nanny tax.” If you...
Employers: Don’t forget about ERISA when covering telehealth
In case you missed it, the Employee Retirement Income Security Act (ERISA) turned 50 earlier this year. If your organization has been administering employee benefit plans for any length of time, you’re likely well-acquainted with the law’s broad impact. However, many...
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