Tag Archives: employees

March 2017 tax compliance calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of March 2017. March 1 Employers. Semi-weekly depositors must deposit employment...
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February 2017 tax compliance calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of February 2017. February 1 Employers. Semi-weekly depositors must deposit employment...
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How do I? Substantiate meal expenses using the per-diem rate method?

An employee or self-employed individual is allowed a deduction for the costs of meals and incidental expenses while traveling away from home for business purposes. The deduction of these costs usually requires the substantiation of the costs. However, there is an optional method provided for these taxpayers that avoids keeping...
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Liability for the ‘nanny’ tax

Employers of course have to pay employment taxes on the wages they pay to their employees. A nanny who takes care of a child is considered a household employee, and the parent or other responsible person is her household employer. Housekeepers, maids, babysitters, and others who work in or around...
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Reimbursements to Employees for Health Insurance That They Purchase May Now Be Taxable Wages

Recent IRS interpretation of the ACA or Obama Care rules:  Reimbursements to Employees for Health Insurance That They Purchase May Now Be Taxable Wages Old Law:   In 1961 the IRS ruled that an employer’s reimbursement of employees for health insurance policies of the employee’s own choosing (and which the...
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IRS issues new rules on small employer health insurance credit

Small employers will be able to purchase health insurance for their employees for 2014 and subsequent years, having small employer health insurance now through Small Business Health Options Program (SHOP) Marketplaces. Many of these small employers may also be eligible for the Code Sec. 45R tax credit that helps to...
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