It’s not uncommon for parents, grandparents and others to make gifts to minors and college students. When considering this idea, taxpayers must beware of the kiddie tax. This tax trap could leave them liable for a substantial amount of tax dollars that they may never see coming.
When someone hires household help — such as an in-home caregiver, gardener or personal chef — that individual may become an employer. With employer status comes a variety of specific tax obligations. This article explores four questions that everyone should ask before saying, “You’re hired.”
Every business owner wishes his or her employees worked as if they owned the company. An employee stock ownership plan (ESOP) can make that a reality while offering tax breaks and a smoother path for succession planning. This article discusses how ESOPs work and their tax impact.
Business owners often have most of their money tied up in their companies, making saving for retirement especially challenging. Those who haven’t already set up a tax-advantaged retirement plan should think about setting one up this year. This brief article offers up a few options to consider.
This calendar notes important tax deadlines for the third quarter of 2018.