Capital Gains in St Petersburg Florida

Tax Tips – Shift capital gains to your children

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Giving appreciated stock or other investments to your children can minimize the impact of capital gains taxes. For this strategy to work best, however, your child must not be subject to the “kiddie tax.” That tax applies your marginal rate to unearned income received by a...
Interest Deductions in St Petersburg Florida

Update on Home Mortgage Interest Deductions

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The federal income tax rules on qualified residence interest have been around for many years, but there’s always a steady flow of disagreements between the IRS and taxpayers on these rules. Here are some background materials and recent developments on qualified residence...
Overtime in St Petersburg Florida

Got Questions about the New Overtime Rule?

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The Department of Labor’s Wage and Hour Division recently released some Q&As about the new federal overtime rule, which goes into effect on December 1, 2016. Under the final rule, the standard salary level used to determine whether executive, administrative, and...
Staff Meetings in St Petersburg Florida

Making the Most of Staff Meetings

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Before you figure out how to improve the quality of your staff meetings, it’s important to review, at a very basic level, what meetings serve to accomplish. For starters, they help employees see themselves as valued members of a group. Assuming everyone involved is treated...
Bartering in St Petersburg Florida

Bartering businesses can’t cut Uncle Sam out of the deal

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Bartering may seem like something that happened only in ancient times, but the practice is still common today. And the general definition remains the same: the exchange of goods and services without the exchange of money. Because, in a typical barter transaction, no cash...
Decedent in St Petersburg Florida

When an inheritance is too good to be true – How income in respect of a decedent works

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Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may be too good to be true. While most inherited property is tax-free to the recipient, this isn’t always the case with property that’s considered income in...
60-Day Deadline in St Petersburg Florida

Did You Miss the 60-Day Deadline for Your IRA Rollover?

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If you miss the deadline for rolling over an IRA distribution to another IRA or eligible retirement plan, you could be subject to taxes and penalties. If you have a valid excuse, you may be able to obtain a hardship waiver from the IRS, but applying is time-consuming and...
PTO Bank in St Petersburg Florida

Your Company May Benefit from a PTO Bank

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WorldatWork, the HR professional society, has been surveying its members for over a decade on this topic. In its most recent “Paid Time off Programs and Practices” report, within some demographic groups, a majority of employers now merge those paid time off (PTO)...
Overtime Rule in St Petersburg Florida

Are You Ready for the New Overtime Rule?

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The deadline for the Department of Labor’s (DOL’s) new final overtime rule is December 1, 2016. While CFOs at most large U.S. companies have been working overtime themselves to prepare for the changes, many small and midsize firms haven’t been as quick to react....
PIP In St Petersburg Florida

The PIP: A Powerful Tool to Improve Employee Performance

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Replacing nonperforming employees is costly and traumatic, both for employers and employees. But allowing a bad situation to fester is worse; it can cause the problem to spread by undermining morale or by creating the impression that management doesn’t care. Performance...