Categories for Uncategorized

• Payroll Management Tips

  Posted Date September 1, 2019 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readWhen it comes to an employer’s responsibility for non-exempt workers, according to the U.S. Department of Labor, there are many requirements businesses must follow related to payroll. In one example, there are strict regulations on what information employers must document for each non-exempt worker. While there’s no requirement on how the information is recorded, there are three main categories. Personal details: This should include the employee’s name, complete address, Social Security number, date of birth and gender. Job details: This must include the worker’s job description and hours clocked in each day and week. Pay details:... View Article

• The Five Key IRS Rules of Taxation for Lawsuit Settlements

  Posted Date September 1, 2019 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readComing out on the winning side of a lawsuit as a plaintiff can be a gratifying feeling, especially if there is a financial settlement involved. There is likely a sense of both relief and vindication. Unfortunately, far too often people are in for a shock when they realize that they must pay taxes on the award. You can even be taxed on your attorney fees! However, a little tax planning can go a long way, especially if you do it before the settlement is finalized and the award is substantial. Below are the five key rules... View Article

• The Power of Gold

  Posted Date August 30, 2013 Posted Time 6:25 am Published in Server Admin

  “It glitters and shines, it badgers and blinds” – Dan Fogelberg. Lately, I can’t get gold out of my mind. Perhaps it’s from the unrelenting barrage of gold commercials on the tube, in the print media and almost every time I pull up an app. And I wonder if William Devane really does buy gold. Here are some thoughts I’ve jotted down about gold. Jot #1 – Why is gold so valuable? Gold is one of the heaviest elements found on earth right up there with platinum, uranium and silver. But, gold and the other heavy elements weren’t made on... View Article

• OBAMACARE – Thoughts Leading Up to October 1st

  Posted Date August 19, 2013 Posted Time 10:11 am Published in Server Admin

  Good Morning! I was thinking about the fast-approaching October 1st enrollment date for ObamaCare and the implications for individuals with private healthcare policies or no health insurance at all. I jotted down some quick thoughts. Here they are: Jot 1 – Enrollment in the health insurance marketplace (exchanges) can be accomplished either online, by mail or in-person. Jot 2 – If you decide not to purchase health insurance, you will pay the piper a minimum penalty on your 2014 Form 1040 of $95 but no more than 1% of your total income. Let’s say the penalty is $95. This is... View Article

• Pension Plan Liabilities

  Posted Date August 8, 2013 Posted Time 10:13 am Published in Server Admin

  I’ve noticed that many cable news channel reports as well as reports in print media have been using the term “unfunded” to describe pension woes of municipalities. There are actually two terms that should be used to describe the pension liabilities: “unfunded” and “underfunded”. An unfunded liability does not mean that the plan is underfunded. There is nothing intrinsically wrong with having an unfunded liability. Unfunded liabilities are a natural component of municipality funding, similar to a mortgage on residential or business property. Underfunded means that the pension plan sponsor of the municipality has not made sufficient contributions to fund... View Article