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Here Are Your Articles for Monday, July 31, 2023
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Saved Articles
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Can you work while you're receiving Social Security benefits? Before you make a decision that could impact your future, it is important to know all the facts. Click through to learn more about Social Security rules for those still in the workforce.
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Vacation and sick time are among the most popular and common benefits you can offer your workers. But you do have a system for offering these days off? Click through to learn how to set up a fair and logical time-off system.
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If you don't review and update your policy regularly, you could miss out on some substantial discounts and overlook glaring coverage gaps. Click through to review scenarios to consider when taking a second look at your policy.
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Today there are many options for senior housing. Consider intergenerational co-housing villages for folks who want to live with all age groups. Click through to learn about balancing a desire for privacy with a need for companionship and support.
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In today's casual world, can you really dress for success and encourage your staff to do so as well? Or is this a vestige of the past? Click through for some insights into office clothing in the modern world.
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Whether you own a business or work for one, you need every edge you can get. Why pay the IRS a dime more than you need to? Click through for some business-related deductions you may not have known about but can start using today.
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Whether you haven't yet filed taxes for this year or are already doing tax planning for next year, consider these often-forgotten breaks. Click through for an introduction to the tax benefits the federal government offers to military personnel.
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It's one of the most discussed pieces of legislation passed in recent years, but many still don't know the basics of the Affordable Care Act. Click through for a review of the ACA's key provisions.
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We all go into tax season hoping for good news, and that we don't have to write a big check to the IRS. One way to insure ourselves against unpleasant surprises is by checking our withholdings. Click through for some tips on checking your status.
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It's a sign of success when you have more than one office, and this achievement represents a significant outlay in finances and staff. Click through to learn how to successfully manage your growth.
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Have you ever wondered how your company compares with others in your industry as a whole, including your competitors? Do you even know what your industry benchmarks are? Click through to learn where you stand.
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You're a manager, and so you need to manage. But how much? Too many managers go overboard on the details. Click through to learn what some of the signs are that you're overmanaging, and how to stop doing so.
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It's wonderful when you read a firm's mission statement and it defines the business so well that it feels like strategy. How do you do it? Click through to read the five steps to creating a mission statement that's not generic, stale and completely useless.
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LATE BREAKING NEWS: A November 22 ruling contains important changes to proposed rules on overtime regs. Click through for the details on the rule that was to go into effect on December 1, and learn why that may not happen.
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It's always a challenge making sure your children are taken care of in the event of your death — but's it even more critical when you have a special needs child. Click through for some advice on the special estate planning provisions these children need.
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You have a lot of flexibility with an IRA, but there are some important, and rigid, rollover rules. Don't find yourself accidentally violating them. Click through for information on a rollover rule many investors don't know about.
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Start-up businesses don't have a very high success rate, but that doesn't mean yours has to fail! If you start on the right foot, you can surprise all the naysayers. Click through for a video that outlines the hazards you face, and shows you how to avoid them.
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Smart companies know that one of the keys to success is making sure you know how you compare with other companies. Fortunately, there is a way to see how you rate. Click through to learn about an easy way to access industry benchmarks.
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Health savings accounts can be a helpful way to help manage healthcare costs, in conjunction with traditional insurance plans. The trick is knowing how they work. Click Full Article below for a video that explains some of the key details.
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There are very few circumstances in which you will not need life insurance. Even single people use it to fund final expenses and medical bills. Click through for an overview of this essential financial product.
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Death and taxes are two of life's great certainties, as everyone knows, and along with taxes come tax scams, both new and old, every year. Click through to learn how to make sure you don't become a victim this year.
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Carrying out the last wishes of a friend or relation is a solemn duty. What exactly do you have to do? Click through to learn what it means to execute someone's last will and testament.
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Is it truly better to give than receive? Ask the IRS. Even if you give gifts to relatives and friends, the government wants its piece of the action. Click through for some details on the little-known gift tax.
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For business owners who want to make sure they're competitive, fresh, accurate benchmarking information is a must. How does your business compare with the industry as a whole? Click through to see how you stack up against your competitors.
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It's hard to confront your own mortality, but you can do your family a huge favor by discussing your estate plans now, rather than when it's too late. Click through to learn how to get started.
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It's one of the most important laws affecting how companies treat employees, and managers would do well to understand its provisions. Click through to learn how the FMLA may affect workers in your business.
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We spend much of our lives putting money into retirement accounts like IRAs and 401(k)s, but when major life changes occur, we have to think about how that money comes out. Click through for some tips on doing this prudently.
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Are you one of the best? Or do you have some catching up to do? Now there's an easy way to compare yourself against competitors and industry benchmarks. Click through to get started in finding out where you stand.
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It's an oft-quoted provision of the ACA: the so-called Cadillac Tax. But what exactly does it mean? Click through to learn what the deal is, to separate the facts from the rumors.
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Are adult children responsible for their parents' medical care, not just morally, but legally? Click through to learn what the rules are if you're one of the many people who live in a filial care state.
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The IRS is taking into account cost-of-living adjustments on pension plans and other retirement-related accounts for tax year 2021. Click through for some good news for many who want to put away a little more.
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We're just on the cusp of 2017, and it's already time to think ahead to 2018. Wise taxpayers will take these changes into account now, as part of their financial plans. Click through to see what may affect you.
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An employee stock ownership plan is just that — a way to give employees a piece of the company. It can be a great deal for staff and management, but the setup and rules are complex. Click through to see if an ESOP is right for your business.
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You'll always know where the fun's going on with our interactive local events calendar featuring social sharing, images, videos and ticket links. Click through to see what's happening or to add your own local events.
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Sometimes you need copies of old tax returns. Your best bet is to save them, but sometimes they disappear during a move, for example. But all is not lost. Click through to learn how to get copies of old returns.
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Social Security may be universal, but not every employer knows the details or is aware of its essential responsibilities. Click through for an introduction to key facts on Social Security and what you must do for your employees.
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Additional remuneration in the form of performance bonuses or incentive payments can help retain good staff. Click through to get details on choosing how and whether the incentive or bonus should be paid.
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In today's economy, there can be a thin line between being an employee or being an independent contractor -- but there are still important differences. Click through for key tips on knowing your status.
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Reverse mortgages can be a great resource for older adults who want additional income for home care or other essential expenses. But you have to be careful when entering into an agreement. Click through to make sure you're not being cheated.
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Everyone talks about the "gig" economy, where workers are all essentially freelancers. But one city is reining in this "Wild West" system, and this may be a trend. Click through to learn about some new rules that affect the way companies and freelancers work together.
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If you sign a joint return, the IRS may be able to collect any outstanding tax relating to that return from you -- even if your spouse was the one who reported incorrectly. Click through to discover the ways you can escape paying your spouse's tax.
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Maybe you're getting cold calls telling you it's time to refinance, or your neighbors are telling you that they have. But should you? Click through to learn how to make a refi decision.
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Whether it's from public television, your alma mater or a local charity, you may very well receive requests from organizations asking you to remember them in your will. Click through to find out exactly what this means.
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It's not your fault, but you're stuck in the middle: a court has ordered you to withhold wages from an employee's paycheck. Click through to learn how to keep this from getting messy.
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Do you have a pension plan for your staff? If so, do you know what you must disclose to them? Click through to learn more about the regulations that govern retirement plan disclosures to make sure you're following the complex rules.
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Who will let your professional online network know that you've passed away? How will your executor access your passwords and PINs? Click through to see the latest ruminations on estate planning for digital assets.
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For businesses to survive and prosper, employees have to adapt quickly to changing situations. That's why it's more important than ever that job descriptions reflect employees' job duties. Click through to learn how to make sure management and staff are all on the same page.
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Get your financial life in control and organized. How? Create a budget. Click through to learn how to track your expenditures, identify spending habits and set goals for yourself.
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The Employment Retirement Income Security Act, or ERISA, is an important consideration for employers. As an HR professional or company manager, you need to know at least the basics. Click through to learn more about this important topic.
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It's tempting when you reach your 60s to dip into Social Security as soon as you're able, but it may not be the best choice. Click through to learn more about timing your payments.
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Everyone is concerned with saving enough for retirement, and rightly so. But there's more to creating a successful post-work life than having sufficient funds. Click through for some advice on the nonfinancial aspects of retirement.
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In business, it's hard to find time to consider something that isn't really urgent but that can be incredibly important. Click through to learn how to protect yourself against the loss of a top employee.
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There's a common perception that estate planning is only for those with vast wealth. But that's wrong. Click through to get a deeper understanding of the importance of planning for even modest estates.
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Many articles and books have been written about how to do a merger, and many speakers have pontificated on the subject. Click through to see that the one missing ingredient is the range of emotions that accompany the transaction.
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You create a plan for marketing, a plan for sales, and a plan for technology. Make a plan for employee compensation as well. Click through to learn about this essential but sometimes forgotten business management task.
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The news is always full of celebrities who die and leave their estates in a mess for heirs to fight over for years. Click through to learn how to make sure your heirs don't end up like that.
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As you reach your sunset years, you may want to remain in your house but still tap the equity you built up over the years. Click through to find out if a reverse mortgage can solve your problems and how to get started.
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In family-owned businesses, the family's wealthy and the company itself are bound together, financially and psychologically. Creating an estate plan is especially important in this situation, and complex. Click through to get a handle on your family business.
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Conventional wisdom holds that estate planning is just about making sure money flows smoothly to the next generation. But there's a lot more to it. Click through for a video that outlines the full range of estate planning.
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Everyone knows that charitable donations are deductible, but there are a lot of subtleties. Before you add up your deductions, make sure they're eligible. Click through for some basics on charitable giving.
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Marital property rights are in a state of transition, not the least because of recent developments regarding the rights of people who are not spouses at all but near-spouses. Click through to be privy to the debate on spousal rights.
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Even sophisticated people can be the victims of Ponzi schemes that look rock-solid on the surface but are really frauds. But victims do have some recourse. Click through to learn how to fight back.
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You haven't saved much for retirement and you're in your 50s. Is it too late? Not necessarily. Click through to learn what you can still do to save for your retirement.
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Giving stock is perfectly legal and can be part of an estate plan, as long as you know the rules. Click through for a video that explains the basics.
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Yes, you get to deduct business-related travel and entertainment expenses, but as with so many tax provisions, the devil is in the details. Click through to learn how to properly deduct these expenses.
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A good credit score is the key to financial health. A low score can make it difficult to get credit cards or a mortgage -- or even, in some situations, to get a job. Click through for some credit score tips.
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What makes the "culture" of a company can be hard to define, but it can make a big difference in the success of the company. Click through to learn how to improve the culture of your company.
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Dividing assets after a divorce can be difficult in the best situations, but when it comes to pensions and Social Security, it can be a nightmare. Click through for the "straight dope" on splitting retirement assets after a divorce.
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As a business owner, you may think you're doing well, but do you have the numbers to back up your opinion? There are ways of getting actual data. Click through to learn how to get data to see how you compare against industry standards.
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Even a small company can offer a retirement plan, and the SEP IRA may be just the ticket. Click through for a description of how this kind of plan can help you and your employees.
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Couples and business partners take title to each other's bank and brokerage accounts, as well as real estate and other personal property. They are joint tenants with rights of survivorship. Click through to see what you should consider before entering such arrangements.
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The earned income tax credit, which makes $55 billion available annually to the working poor, has been around since 1975, but is still often misunderstood. Click through to get the facts of this useful but complex tax break.
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Miscellaneous itemized deductions are deductible only if they exceed 2 percent of your adjusted gross income. You need to make sure that these deductions are ordinary, necessary and reasonable in amount, says the IRS. Click through to get specific details.
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When a business has only a few employees, it's easy to manage staff. But at a certain point, you need an HR manager in-house. Click through for some insights into when you'll reach that place.
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Retirement plans are one of the most popular benefits companies can offer, and even small businesses can get in on the game. Click through for an introduction to retirement plans that are perfect for small businesses.
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There may be reasons to skip your children and leave most or all of your estate to your grandchildren. This is possible, but there are pitfalls. Click through to learn about generation-skipping transfer tax.
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Is the most dreaded acronym not the IRS anymore but AMT? Alternative minimum tax is a different way of calculating your tax liability. Click through to get rid of the AMT willies.
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One of the biggest real estate tax advantages for investors is deductions, generally geared to rental properties. Click through to get more details on what can be a long-term investment.
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It's every taxpayer's nightmare: Your tax return has been selected for examination. Your response will undoubtedly be "why me?" Click through to get some tips on how to respond to get through this as painlessly as possible.
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It's hard to contemplate, but there may come a time in your life when you can't make decisions for yourself. That's what a living will is for. Click through to find out how these work and why you need one.
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Whether you're running a company or working for one, you want to know what the market rate is for people with a specific skill set and experience in a particular region. Click through to powershift your salary rate research chops.
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It's OK to disagree with the IRS. In fact, there's even a formal appeals process. But don't try to pull a fast one. Click through to find out what the IRS considers a frivolous argument, which can lead to severe penalties.
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The world of insurance is a complex one, and it's essential to make sure your business is covered. Click through to learn the basics of business insurance so you can make the right decisions.
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Looking to give yourself a tax break and do some good? It's legal, and often advantageous, to leave your IRA to a charity. Click through to learn the rules behind this strategy.
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Financial planners advise clients on how best to save, invest and grow their money. Click through to see how they can help you tackle a specific financial goal like buying a house or getting a macro view of your money and the interplay of various assets.
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Almost everyone knows that 529 plans can be a great way to save for college. In addition, they also have some powerful estate-planning features. Click through to learn the full story behind 529 plans.
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How do you know if you're doing well? It's a more complicated question than you may realize. Click through to learn about the different ways to measure your company's performance, and which ones are right for you.
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Almost everyone has heard the term "probate," but many have only a vague idea of what it means and all the steps involved. Click through for an introduction to the probate process, and tips on how to get through it or even avoid it entirely with trusts.
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Digital transformation is impacting all aspects of our lives. The typical office worker is becoming a thing of the past. Click through to discover the future of work and your place in it.
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A noncompete agreement can help minimize loss if a competitor tries to lure one of your employees away. But there are limits to how these work. Click through to become aware of all the implications before you ask your staff to sign one.
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Tax audits are rough, but you have recourse even if they don't end up in your favor. If an auditor rules against you, but you believe the ruling to be in error, you can appeal the decision. Click through for details on how to make an appeal.
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You're ready to provide a company-sponsored 401(k) retirement plan -- for yourself and your employees. How do you choose a provider? Click through to learn how to select a service provider for the long haul.
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An eerie feeling comes over you when the IRS determines your business owes tax money. Click through to get the scoop on IRS audits of business tax returns.
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If you're a parent, you probably want your children to inherit your home. It's best to plan for it —via estate planning. Click through to learn the choices available to you.
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A significant proportion of your workers use technology to perform their jobs from home. Click through to see how virtual offices blend home and work to gain efficiencies that benefit both employer and employee.
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Although April 15 is the most famous, there are plenty of other tax deadlines both businesses and individuals need to know. Click through for an annotated list of taxes to be paid between July 1 and Dec. 31.
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If you've been a philanthropist in life, you'll likely want to keep giving after death. Estate plans can provide the ability to do just that. Click through to learn about incorporating charitable gifts into your estate plan.
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Robo investing is a relatively new form of algorithmic trading. Click through to discover how it's providing new and easily accessible ways for individual investors to enter the stock market.
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When it comes to taxes and other sensitive financial information, email is NOT the way to go. Click through to see how a secure cloud platform is the way to go to receive and review tax and other financial documents.
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If you do business in Canada, you need to understand how the U.S./Canada Income Tax Treaty may affect your business. Click through to see how to capitalize on doing business with our largest and closest trading partner.
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Work no longer requires large numbers of workers: technological progress has made farms and factories more productive than ever. What does this mean on the employment front? Click through to see our future as workers.
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| Kim & Lee, LLP
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| info@kimleecpas.com
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| 2305 W. 190th St. Suite 100
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| Torrance, CA 90504
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advisers. Before making any decision or taking any action, you should consult a professional adviser who
has been provided with all pertinent facts relevant to your particular situation. Tax articles in this
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