Roundup of Individual Tax Changes For 2023 cover

Roundup of Individual Tax Changes For 2023

Two recent pieces of tax legislation have created several tax changes for 2023. The legislation includes the Inflation Reduction Act and the Secure 2.0 Act.
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Protect the “Ordinary and Necessary” Advertising Expenses of Your Business cover

Protect the “Ordinary and Necessary” Advertising Expenses of Your Business

How does a business know if advertising and marketing expenses are deemed “ordinary and necessary” to qualify as deductible on their tax return?
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Many Taxpayers Could See Smaller Tax Refunds This Year cover

Many Taxpayers Could See Smaller Tax Refunds This Year

COVID pandemic-related benefits have come to an end. These decreases in federal tax benefits will mean smaller 2022 tax refunds for taxpayers..
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Have Employees Who Receive Tips? Here Are the Tax Implications cover

Have Employees Who Receive Tips? Here Are the Tax Implications

Earn your living through tips? Employ individuals who receive tips as part of their compensation? Then you need to know the tax implications.
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The Three Essential Elements of Taxable Wages Employers Need to Know cover

The Three Essential Elements of Taxable Wages Employers Need to Know

Employers are generally responsible and liable for applying payroll taxes to payments for taxable wages. FICA and FITW are separate employment tax regimes.
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Annual Adjustments to Penalties for Health Benefits & Employer Plans cover

Annual Adjustments to Penalties for Health Benefits & Employer Plans

DOL announced 2023 annual adjustments to penalties for benefits-related violations. 2023 adjustments are effective for penalties assessed after 1/15/2023.
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How the New SECURE 2.0 Law May Affect Your Business cover

How the New SECURE 2.0 Law May Affect Your Business

The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) recently became law. Provisions in the law will kick in over several years.
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Employers, Stay Mindful of Your Nonemployee Reporting Obligations cover

Employers, Stay Mindful of Your Nonemployee Reporting Obligations

In today’s “gig economy,” you may have a some independent contractors rather than employees. Don't forget to fulfill your nonemployee reporting obligations.
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