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Income and losses from investment real estate or rental property are passive by definition — unless you’re a real estate professional. Why is this important? Passive income may be subject to the 3.8% net investment income tax (NIIT), and passive losses are deductible only against...

Here’s a list of things to consider regarding wills: Consult an attorney. Although wills written without legal advice are generally valid, an attorney can help ensure that the will actually accomplishes your objectives. If an attorney is not used, know the requirements for...

The Equal Employment Opportunity Commission (EEOC) recently laid its cards on the table by giving a detailed description of when wellness programs step over the line and violate the Americans with Disabilities Act (ADA). Here’s the latest. According to the most recent...

Gambling remains an ever-popular U.S. pastime. But it’s more than just fun and games — gambling can also have serious tax implications. Here are the most important issues involving the federal tax treatment of an amateur gambler’s winnings, losses and...

Being a good corporate citizen is an effective way to stand out in the eyes of your customers, employees and investors. But how do you prove your commitment to corporate responsibility to skeptical stakeholders? B Lab, a not-for-profit organization, awards its prestigious...

Installing a global positioning system (GPS) in company vehicles and employer-provided phones makes sense on several levels, including for the safety of the employees using them. But if you use a GPS to track the location of employees who work offsite, you might begin to hear...

If debt collection is a problem for your business, deducting uncollectible (bad) debts from your tax bill may somewhat lessen the sting of simply writing the debt off your books. Here is some basic information on deducting business bad debts. First, the debt must be legitimate. A...

The deadline is fast approaching for certain taxpayers to report accounts they hold in foreign banks and other financial institutions. You also may be required to report foreign accounts over which you have signature authority, such as an account that you maintain on behalf of a...

Generally, businesses are limited to deducting 50% of allowable meal and entertainment (M&E) expenses. But certain expenses are 100% deductible, including expenses: For food and beverages furnished at the workplace primarily for employees, Treated as employee compensation,...

Search engines, online retailers and data brokers continuously monitor consumers’ online searches and shopping habits. Then, they may sell the data to third party advertisers or use it themselves to tailor ads to consumers’ real-time wants and needs. But a recent...