Some small businesses have been struggling with morale for a variety of reasons, one of which may be economic uncertainty. They might be able to boost their employees' spirits with a relatively low-cost fringe benefit: an achievement awards program. This article discusses the tax implications of such a program and the importance of determining whether it is nonqualified or qualified.

Despite the business community's rapid adoption of digital payment methods, some companies continue to rely on paper checks. But there's a long-standing problem with checks: They make businesses vulnerable to several damaging types of fraud, including check kiting. This article describes how a check kiting scheme works.

Employer-provided life insurance can be a great benefit, with the cost partially excluded from an employee's taxable income. Participating employees need to be aware that this exclusion only applies to the first $50,000 in coverage, and the employer-paid cost of the excess will be reported on the employee's Form W-2. This is true even if the life insurance benefits are never received.

With only a couple of months left in this year, many taxpayers are looking for ways to lower their 2024 tax bills. If you're charitably inclined, own an IRA and are at least 70 ½, here's one option: Use IRA funds to donate directly to an IRS-approved charity. This article outlines the requirements, benefits and limitations of qualified charitable distributions (QCDs).

This calendar notes important tax deadlines for the fourth quarter of 2024.