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In 2017, the amount you can give to one person without triggering a gift tax return is $14,000 per donor, per recipient. It is unchanged from 2016. You might be able to give someone more than this amount for certain expenses. For example, tuition or medical expenses that you pay...

Do your employees understand your company’s compensation philosophy? That was a question posed to human resource managers in a recent WorldatWork survey, Compensation Programs and Practices. According to the survey, almost one in five employers believe that most of their...

Many employers have been wrestling with plans to comply with new U.S. Department of Labor (DOL) overtime rules since last May. That’s when the rules were finalized, with a December 1 compliance deadline. Those new rules included raising the minimum salary overtime exemption...

The last month or so of the year offers accrual-basis taxpayers an opportunity to make some timely moves that might enable them to save money on their 2016 tax bill. Record and recognize The key to saving tax as an accrual-basis taxpayer is to properly record and recognize...

Peaceful and Joyous Thanksgiving Wishes To You and Your Family!

The U.S. Citizenship and Immigration Services (USCIS) has issued a new version of Form I-9, “Employment Eligibility Verification,” that is dated November 14, 2016 and has an August 31, 2019 expiration date. Employers must use the new form beginning on January 22,...

The holidays can be a joyous — but hectic — time of year. While you’re juggling shopping for gifts, decorating your home and planning get-togethers with friends and family, it’s easy to forget to spend any remaining funds in your Flexible Spending Accounts (FSAs)...

Now that Donald Trump has been elected President of the United States and Republicans have retained control of both chambers of Congress, an overhaul of the U.S. tax code next year is likely. President-elect Trump’s tax reform plan, released earlier this year, includes the...

If you’re self-employed and you or your employees use a vehicle to conduct business, it’s important to know the latest tax rules. First, business-related vehicle expenses can generally be deducted using either the: Mileage-rate method (54 cents per mile driven in 2016), or...

Back in 2011, several non-unionized employees who worked for a lighting products manufacturer complained about their wages and asked the plant manager for a raise. The request was turned down. Shortly thereafter, the company’s president visited the Illinois plant and all 94...