The number nine has special significance to taxpayers in 2018 because that is the number of tax deductions that have been eliminated as result of the sweeping changes made in the Tax Cuts and Jobs Act of 2017 (TCJA). And the best way to describe it is – a case of give and take. Taxpayers can expect a lot of … Read More
Wedding Gifts from the IRS and the Disappearing Marriage Penalty
It may be rare these days for a prospective husband to ask for permission or a blessing from his future father-in-law to marry his sweetheart, but there’s one additional blessing that may also be on his mind: acquiring the tax blessings bestowed by the Internal Revenue Service. Thanks to the new tax law changes found in the Tax Cuts and … Read More
US Corporation tax rate now lowest in 30 years
For decades, the United States was in the top twenty of the countries paying the highest statutory corporate income tax rates. Last year, American companies had to adhere to a whopping 38.9 percent rate while other developed countries were paying 22 and 25 percent rates. In fact, the only other countries paying 35 percent or more, were the United Arab … Read More
What’s New in the Tax Cuts and Job Act Part 2
Experts say the changes to the tax code for businesses are nothing short of revolutionary: a long-overdue modernization. But it’s important to remember that rate reductions don’t automatically translate into vigorous business growth. While changes wrought by the Tax Cuts and Jobs Act (TCJA) do promote corporate investment incentives, they also vary by investment type and economic sector. Here are a … Read More
What’s New in the Tax Cuts and Job Act Part 1
The Trump administration’s success in pushing through the new tax legislation marks a major achievement of it’s first year. But, according to one source, “the hurried, largely furtive drafting, and rush to passage at the end of 2017, have helped obscure the new tax regime’s real impact.” Focusing on the politics has muddled the sweeping repercussions of the Tax Cuts … Read More
Workplace Wellness -Part 1
As the exploding wellness industry demonstrates, healthy customers are happy customers. And because employees are the “internal customers” of every organization, it stands to reason that workplaces should focus on employee wellness. Healthy employees contribute to and draw support from a healthy workplace. It’s not just about reducing sick days or absenteeism—although that matters, too. It’s also about fostering a … Read More
Owning It!
“Keeping talented people engaged involves some form of ownership.” –Forbes.com What motivates your employees to “give their best” at work, collaborating with a sense of purpose and passion, instead of just showing up and stewing till quitting time? The traditional answer–straight-up salary increases or equity stake–are rarely feasible in today’s culture of budget constraints, and research shows the temporary … Read More
#MeToo and Women in the Workplace
The hashtag #MeToo has unified millions of people, empowering them to come forward with their stories. In December, TIME magazine made these “silence-breakers” their Person of the Year, placing five on the cover—a range of backgrounds and ethnicities, from an anonymous migrant worker to superstar Taylor Swift . Fortune reports the #MeToo movement has caused an abrupt shift in acceptable workplace … Read More
Culture of Happiness
“Choose a job you love, and you will never have to work a day in your life.” That sentiment endures in fortune cookies, but otherwise flies in the face of society’s attitude toward jobs, bosses, and the hours “trapped” in the office. For too many workers in our culture, from laborers to leaders, work is not a “happy place.” Most … Read More
Sitting is the new smoking
How much do you sit on a typical day? If you drive to work, remain at your desk, drive home, eat dinner and then watch TV, you’re likely sitting for more hours than you’re sleeping. In today’s culture of always remaining available for clients or colleagues, eating lunch at our desks, clicking through emails rather than meeting face-to-face, grabbing take-out … Read More
Meals and Entertainment Changes Under Tax Reform
In general, the new tax Act provides for stricter limits on the deductibility of business meals and entertainment expenses. Under the Act entertainment expenses incurred or paid after December 31, 2017 are nondeductible unless they fall under the specific exceptions in Code Section 274(e). One of those exceptions is for “expenses for recreation, social, or similar activities primarily for the … Read More
Building a Dream Team: Part 2: Hire Your Weakness
Let’s continue to explore the DISC concept, a feature of employee recruitment and training in businesses from government agencies to Fortune 500 companies. The “DISC” aspect stands for the four traits addressed by this model: Dominance, Influence, Steadiness and Conscientiousness. The concept of “DISC-Flex” introduces the idea that we can dial up or dial down certain behaviors to adapt to … Read More
Building a Dream Team: Part 1
The workplace code of conduct often outlines the unacceptable or “zero-tolerance” behaviors that employees must avoid. But what about the other side of the coin: a list of behaviors to strive for or cultivate in order to achieve excellence; or guidelines on how to play up your strengths, habits, and motivators? Rarely do job descriptions, resumes and employee training address … Read More
What You Need to Know About Tax Reform
The House of Representatives voted on a significant tax reform bill. For many in Congress, the stakes of tax reform have soared after lawmakers failed to repeal and replace Obamacare, with healthcare reform failing to garner enough support. Tax reform would create a palpable impact for Republicans before next year’s midterm elections. Still undergoing a flurry of changes, the House … Read More