Change in St Petersburg Florida

Should you change your business — or transform it?

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As its market and technological needs evolve, every company needs to change. There’s even a formal term for the undertaking: “change management.” From an operational standpoint, change involves opening up the hood and switching out old engine parts for new ones. Even if it...
Social Security in St Petersburg Florida

How Much Will Social Security Recipients Collect Monthly in 2018?

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Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 66 million Americans will increase just 2.0% in 2018, the federal government recently announced. The 2.0% cost-of-living adjustment (COLA) will begin with benefits that more than 61 million...
Telecommuters in St Petersburg Florida

Mitigating Workplace Injury Risks for Telecommuters

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First, the good news. The Occupational Safety and Health Act (OSHA) generally doesn’t cover your employees’ home offices. The Department of Labor (DOL) states that home-based workplaces aren’t explicitly excluded by OSHA, but the law doesn’t hold employers...
Cash Balance Plan in St Petersburg Florida

Accelerate your retirement savings with a cash balance plan

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Business owners may not be able to set aside as much as they’d like in tax-advantaged retirement plans. Typically, they’re older and more highly compensated than their employees, but restrictions on contributions to 401(k) and profit-sharing plans can hamper retirement-planning...
Age Discrimination in St Petersburg Florida

Know How Age Discrimination Enforcement is Evolving

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If the Age Discrimination in Employment Act (ADEA) were a person, he or she would have been subject to its own protections a decade ago, when the law turned 40. On the ADEA’s 50th birthday earlier this year, Victoria Lipnic, the acting chair of the Equal Employment...
Education in St Petersburg Florida

How to Maximize Tax Breaks for Work-Related Education Costs

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School is back in session. So, it’s time for a refresher on tax breaks for work-related education expenditures. Here’s what individual taxpayers need to know. American Opportunity Credit The American Opportunity credit equals 100% of the first $2,000 of qualified...
Installment Sale in St Petersburg Florida

How to Save Tax with an Installment Sale

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Are you planning to sell real estate before the end of the year? Naturally, you hope to entice a qualified buyer who has plenty of cash on hand. But being open to the idea of an installment sale may help you seal the deal. Fortunately, installment sales also offer tax savings for...
Living Trusts in St Petersburg Florida

Wills and living trusts: Estate planning imperatives

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Well-crafted, up-to-date estate planning documents are an imperative for everyone. They also can help ease the burdens on your family during a difficult time. Two important examples: wills and living trusts. The will A will is a legal document that arranges for the distribution...
Estimated Tax Payments in St Petersburg Florida

3 strategies for handling estimated tax payments

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In today’s economy, many individuals are self-employed. Others generate income from interest, rent or dividends. If these circumstances sound familiar, you might be at risk of penalties if you don’t pay enough tax during the year through estimated tax payments and withholding....
Bunching in St Petersburg Florida

“Bunching” medical expenses will be a tax-smart strategy for many in 2017

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Various limits apply to most tax deductions, and one type of limit is a “floor,” which means expenses are deductible only if they exceed that floor (typically a specific percentage of your income). One example is the medical expense deduction. Because it can be...