Articles

Posted by: Jane Searing

The Bipartisan Budget Act of 2018 passed a significant exception to the Excess Business Holdings rule.  This exception had been included in H.R. 1 of what became the TCJ Act of 2017, but it was pulled out during the Senate reconciliation process. Before this change, private foundations were prohibited from holding more than either a […]

Posted by: Megan Ryan

The Tax Cuts and Jobs Act, signed into law on December 22, 2017, contains provisions that directly impact certain benefits commonly provided to employees.  Employers should be aware of these changes and the effective dates of each change, as it may require changes to payroll, federal income tax withholding, and both the employer and employee […]

Posted by: Steve Shulze · Jane Searing

Employee benefits that were formerly tax-free benefits under IRC 132(f) (transportation, parking, and on-site exercise facilities) are now only tax free if: The employer is a for-profit business and forgoes the federal income tax deduction, or The employer is a tax-exempt organization and pays unrelated business income tax on the value of those benefits. Otherwise, […]

Posted by: Mitch Hansen

I recently attended a training that discussed procurement cards—both their increased popularity and the risks associated with using them. During the training, I shared that we have been using technology to help mitigate these risks. This technology can also help reduce risk in many other areas as well, including payroll and disbursements. The Issue with […]

Posted by: Julie Eisenhauer

The holidays bring warm wishes of peace, love, harmony, and prosperity for the coming year. It’s a time to count your blessings and celebrate successes. As a family business advisor, I often provide consultations on maintaining family harmony as the family successfully transitions the business from one generation to the next. Various research has found […]

Posted by: Jane Searing

Certain transportation and onsite health benefits have been tax exempt to employees and tax deductible to employers prior to passing the Tax Cuts and Jobs Act of 2017. However, beginning January 1, 2018, the law subjects both for profit and nonprofit employers to taxation on these specific benefits as long as employers continue to treat […]

Posted by: Jane Searing

Certain transportation and onsite health benefits have been tax exempt to employees, and tax deductible to employers prior to passing the Tax Cuts and Jobs Act of 2017. However, beginning January 1, 2018, for the benefits listed below, employers must make an important business and economic choice. They must decide whether to treat the benefit […]

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