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Tax Tips Small Business
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Employee Meals: When Does the 50-Percent Limit Apply?
Don't reduce your deduction if you aren't required to
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In most cases, an employer is only allowed to deduct one-half of the expense that is paid to employees for meals. However, in some instances, the full amount is allowed.
Small Business Quick Tip
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Employer Provided Education
Employer-provided education assistance benefits of $5,250 provided under a written plan are excludable from wages. The education doesn't need to be job-related to qualify.
Wednesday, 17th July 2019
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Tax Tips Personal
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Gambling Income and Losses
Six Tips on Gambling Income and Losses
Whether you roll the dice, play cards or bet on the ponies, all your winnings are taxable. The IRS offers these six tax tips for the casual gambler.
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Personal Quick Tip
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Qualified Tuition Plan
It doesn't appear that a college education will get cheaper any time soon. Look into establishing a qualified tuition plan for your children. The earnings in the account grow tax-free. As long as the funds are spent on qualified education expenses, there are no tax consequences. Plus, there may be an added tax benefit at your state level.