MBA News

The IRS has provided guidance on how employees should treat amounts wrongfully included in their W-2 income for the premiums their employers paid for their same-sex spouses’ health insurance. In IRS Information Letter 2014-0012, the tax agency advises employees to request a... Continue Reading

The U.S. Department of Labor has released its early jobs report. The findings: Unemployment has fallen to 6.1 percent — its lowest level since September 2008. In addition, about 288,000 new domestic jobs were added in June. These statistics exceed economists’... Continue Reading

Now’s the time of year when many young adults are about to head back to college — or to enter their first year of higher education. If you have a grandchild who’ll be in college this fall and you’re concerned about gift and estate taxes, you may want to consider paying some of... Continue Reading

Employment discrimination related to pregnancy has been illegal for decades, since the passage of the Pregnancy Discrimination Act (PDA) back in 1978. The law, which was an amendment to the 1964 federal Civil Rights Act,prohibits businesses from making employment decisions based... Continue Reading

In a well-known Aesop’s Fable, ants stockpile food during the summer bounty, while the grasshopper sings and plays. When winter sets in, the grasshopper starves. The moral of the story is to work hard and plan ahead. In modern times, this lesson can be applied to retirement... Continue Reading

If you’re claiming a deduction for meals, entertainment, auto or travel expenses, expect the IRS to closely review it. Too often, taxpayers have incomplete documentation or try to re-create records months (or years) later. In doing so, they often fail to meet the strict... Continue Reading

Once upon a time, Crumbs Bake Shop was the sweetheart of New York City. It started in 2003 as a mom-and-pop bakery on New York’s Upper West Side and eventually grew into the nation’s largest cupcake retailer, peaking at 70 stores. In 2010, Crumbs was included on Inc.... Continue Reading

Many expenses that may qualify as miscellaneous itemized deductions are deductible for regular tax purposes only to the extent they exceed, in aggregate, 2% of your adjusted gross income (AGI). Bunching these expenses into a single year may allow you to exceed this “floor.” So... Continue Reading

Sometime this year, a U.S. District Court in Detroit will dive back into the weeds to decide whether a particular job at Ford Motor Corporation could be done adequately by an employee working four days a week from home. That’s the task it was given by the U.S. Court of... Continue Reading