FASB issues new segment expense disclosure rules
December 13, 2023
Starting in 2024, public companies must comply with new accounting rules requiring them to disclose more details about their business unit costs. This is the most significant change to segment expense reporting in 25 years.
The “nanny tax” must be paid for nannies and other household workers
December 12, 2023
In 2023, if you pay a household worker cash wages of $2,600 or more, you must withhold and pay Social Security and Medicare taxes. Here’s what the amount will be for 2024, along with details about possible tax obligations for household workers.
Giving gifts and throwing parties can help show gratitude and provide tax breaks
December 11, 2023
Spread some holiday cheer by giving gifts to employees or customers … or throwing a festive party. But make sure you understand the tax rules and how much can be deducted.
Highlights of next year’s fringe benefit COLAs
December 8, 2023
Employers: Are you up to speed on the recently issued 2024 cost-of-living adjustments for many popular fringe benefits? Here are some of the latest amounts.
A company car is a valuable perk but don’t forget about taxes
December 6, 2023
For many key employees, the use of a company car is a cherished perk. But before you hand over the keys, make sure you understand the federal tax rules.
4 ideas that may help reduce your 2023 tax bill
December 5, 2023
Before you know it, 2024 will be here. But until then, there may still be time to reduce your 2023 federal tax liability by taking these steps.
