If you’re an executive or other key employee, you might be rewarded for your contributions to your company’s success with restricted stock, stock options or nonqualified deferred compensation (NQDC). The tax planning for these forms of compensation, however, is generally more complicated than for salaries, bonuses and traditional employee benefits. And planning gets even more complicated this year,...
With the New Year come and gone, many are predicting what to expect during 2014. One thing that can be expected is proposed changes to the way not-for-profit organizations (NFPs) report information in their financial statements. An ongoing project of the Financial Accounting Standards Board (FASB) is looking into ways that not-for-profit reporting can provide better information about net asset classifications and...
Historically wealth was largely passed down from generation to generation. However, today we see wealth created in many ways and an increased need for professional assistance in the management of complex financial affairs for wealthy individuals, corporate executives and families.
Your Strategic Plan is becoming more closely linked with your Technology Plan as the years go by. Technology can often be the strategic plan accelerator if you view it as a strategic asset rather than a cost. Either way, we’re all spending money on computers, software, copiers and telephones, so let’s have a plan to use them wisely, and another plan to purchase them correctly.
Current legislation regarding foreign tax issues can be daunting. In recent years, IRS scrutiny regarding all things foreign has reached new levels of disclosures, some of which have been extremely burdensome to taxpayers. Tax professionals start throwing around terms like FATCA, FBAR, PFIC, and tax treaty and it may feel like this is a world you do not wish to enter. Things are made even more...
The term “constructive dividends” refers to dividends that the IRS may attribute to shareholders of companies who receive the benefit of services or goods without being taxed on them. A recent case on this issue decided by the U.S. Tax Court involved the owner of a construction firm.
As the name implies, the "Roth 401(k)" is a hybrid retirement plan that an employer can provide to its employees. This type of plan combines several elements of traditional 401(k) plans with Roth IRA features in designated accounts.
Now, the IRS has issued new guidance on rolling over funds from a traditional 401(k) account to a Roth account within the same plan (Notice 2013-74).
Federal law requires you to employ only U.S. citizens or foreign citizens who have the necessary authorization to work in the United States. Employers normally verify employment status with Form I-9, “Employment Eligibility Verification.” But how do you know a new employee isn’t lying or providing counterfeit documents?
More than half of companies are using, piloting or implementing RFID tags, according to the latest customer survey on RFID trends released by CYBRA, a manufacturer of inventory tracking systems. But before you invest thousands of dollars in converting to RFID tags and readers, consider whether bar coding — or a combination of these two options — is the optimal choice for your distribution company.