News


Stay Up-To-Date On Final Overtime Rules

17

Aug 2016

Stay Up-To-Date On Final Overtime Rules

As of December 1st, 2016 the Department of Labor (DOL) has increased the minimum salary requirements for exempt administrative, professional, and executive employees. These exempt employees are immune from the The Fair Labor Standards Act (FLSA), which explicitly states that employers MUST pay their employees at least the minimum wage amount (which varies by state and municipality) for all hours worked. Employers must also must…

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How To Know If You Owe Gift Tax

07

Jul 2016

How To Know If You Owe Gift Tax

Are you a generous person? If you’re someone who loves the act of gift giving, you may have heard of the gift tax. The federal gift tax applies to those who have given large gifts or sums of money to friends or relatives. Here’s how to find out if you’re one of the lucky few that has to pay gift tax. The first thing to…

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Is Student Loan Debt Holding You Back?

16

Jun 2016

Is Student Loan Debt Holding You Back?

Everyone knows that putting money away for retirement is a smart idea. But what if something was standing in the way of building that nest egg? A recent poll from AICPA shows that student loans have been directly affecting adults in the United States that are trying to save for retirement. The poll states that half of those that either have student loans or who…

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Worker’s Compensation- Is It Absolutely Necessary?

30

May 2016

Worker’s Compensation- Is It Absolutely Necessary?

Worker’s compensation insurance is a required, state-specific law that provides employees monetary relief in the event of any injuries or accidents that occur as a result of employment. In California, employers are required to have worker’s compensation for their employees under Labor Code Section 3700 even if they only have one; employers are not required to obtain worker’s compensation for independent contractors whose services are enlisted by the employer. However, it…

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Deadline Approaching: April 18th is the Last Day to File Taxes

13

Apr 2016

Deadline Approaching: April 18th is the Last Day to File Taxes

Still haven’t filed your taxes yet? Time is running out! Monday, April 18th is the last day to file taxes for 2015. Why the later date? The Capitol will be celebrating Emancipation Day on April 15th, giving you three extra days to get those pesky returns over to the IRS. Estimated tax payments are also due on April 18th. If you need some more time…

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Saver’s Credit: How To Know If You Qualify

12

Apr 2016

Saver’s Credit: How To Know If You Qualify

Do you currently put money into an IRA or 401k? If so, you may qualify for the Saver’s Credit! This credit may not only reduce the tax you owe, but it also can help you save for retirement. Those who qualify for the credit must be at least 18 year old, not a full time student, and not claimed as a dependent on someone else’s…

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Get Prepped: 2016 Tax Information

07

Apr 2016

Get Prepped: 2016 Tax Information

With tax season in full swing, we’re sure the last thing you want to think about is next tax season. However, the IRS recently announced the annual inflation adjustments for the 2016 tax schedule, and it’s definitely information worth knowing. Tax rate schedules, tax tables, and cost-of-living adjustments are all on the list.    Take a look at the images below, courtesy of Forbes, for…

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Are You Eligible For An Education Credit?

28

Mar 2016

Are You Eligible For An Education Credit?

The American Opportunity Tax Credit and the Lifetime Learning Credit are the two educational credits available to those that pay for post secondary education. Those who qualify for either education credit must meet both of the following requirements: -You pay qualified education expenses for a higher education (or your spouse or a third party does) -You, yourself, or a listed dependent is a student enrolled…

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Do I Actually Have To File Taxes?

15

Mar 2016

Do I Actually Have To File Taxes?

Have you ever asked yourself, do I really have to file taxes? The short answer, most often, is yes. The long answer may surprise you. There are a select few of us who actually don’t have to file taxes, and this is dependent on your age, your income level, and your filing status. Here’s how to know if you qualify… Use this guide below, courtesy…

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