Paid Family and Medical Leave Employer Credit

If you provide paid family and medical leave for your employees, you may be eligible for a tax credit of up to 25% of what you paid in wages during an employee's leave for up to 12 weeks per tax year.

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Plan Now to Use Health Flexible Spending Arrangements in 2019

The following article was published by the IRS.  The Internal Revenue Service is reminding eligible employees that now is the time to begin planning to take full advantage of their employer’s health flexible spending arrangement (FSA) during 2019. FSAs provide employees a way to use tax-free dollars to pay medical expenses not covered by other …

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Facts to Help Taxpayers Understand Individual Retirement Arrangements

The following article was published by the IRS. Individual Retirement Arrangements – better known simply as IRAs – are accounts into which someone can deposit money to provide financial security when they retire. A taxpayer can set up an IRA with a: bank or other financial institution life insurance company mutual fund stockbroker Here are …

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Several Tax Law Changes May Affect Bottom Line of Many Business Owners

The following article was published by the IRS.  The Internal Revenue Service is reminding business owners that tax reform legislation passed last December affects nearly every business. With just a month left in the year, the IRS is highlighting important information for small businesses and self-employed individuals to help them understand and meet their tax …

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Here’s How the New Tax Law Revised Family Tax Credits

The following article was published by the IRS. More families will be able to get more money under the newly-revised Child Tax Credit, according to the Internal Revenue Service. The Tax Cuts and Jobs Act (TCJA), the tax reform legislation passed in December 2017, doubled the maximum Child Tax Credit, boosted income limits to be …

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Tax Reform Changes Affecting Small Businesses

The following article was published by the IRS. With just weeks left in tax year 2018, the Internal Revenue Service urges small business owners to learn about how the new tax law changes may affect them. The Tax Cuts and Jobs Act, passed in December 2017, made tax law changes that will affect virtually every business …

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Three Steps Charities Applying for Tax-Exempt Status Need to Take

The following article was published by the IRS. Before applying for tax-exempt status, a charitable organization must determine whether it is a trust, corporation or association. After that, there are three additional steps to take: 1) Gather organization documents. Each application for exemption – except Form 1023-EZ – must be accompanied by an exact copy …

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