6 Tax Angles to Layoffs

After a robust job market over the last few years, layoffs are now on the rise. Through November 2023, employers have announced nearly 690,000 job cuts this year, an increase of 115% over the same period last year, according to outplacement firm Challenger, Gray & Christmas. This is the highest January-through-November total since 2020. Prior to…

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Take Aim at Targeted Worker Tax Credits

If your business is picking up steam, you may be looking to expand your workforce to meet the demand. Here’s a practical idea: Hire employees who qualify for the Work Opportunity Tax Credit (WOTC). The credit is available for workers who represent one of the “target” groups specified by law. There’s no limit on the number…

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The ABCs of Business Valuation

The ABCs of Business Valuation You may understand some of the theory behind business valuation, but you probably don’t know the procedures involved in the analysis and preparation of a report. Clients and attorneys who understand how the valuation process works can anticipate their experts’ needs and appreciate why valuators need to ask so many questions…

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GARP Investing Seeks a Middle Ground

For some people, the world is an either/or. They exclusively drink either one soft drink or another. They’re a fan of either the Cubs or the White Sox. But what if you prefer to mix and match qualities of each option to approximate the best of both worlds? That’s essentially the idea behind an investment philosophy…

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Do Your Kids Know the Value of a Silver Spoon?

You taught them how to read and how to ride a bike, but have you taught your children how to manage money?Tip: Give Them a LookFind a credit card calculator on the web to give your kids a real-life look at what it actually costs to “buy now, pay later.”Many college students and graduates carry a significant…

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Consider Tax Issues Before Moving Across State Lines

Tax can be a deciding factor if you’re contemplating a move to a different state. Here’s an overview of how to evaluate the tax picture in various states you might be considering. Investigate All State and Local TaxesEstate vs. Inheritance TaxWhat’s the difference between an estate tax and an inheritance tax? An estate tax is charged against your…

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Crypto: What Taxpayers Need to Know

Cryptocurrencies have gone mainstream. You can now invest in them and use them to buy and sell many products and services. However, crypto transactions have important federal tax implications that may not be well understood by everyone. Here’s an update on what you need to know about the federal tax issues if you exchange or receive…

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RAISING THE DEBT CEILING AND WHAT THAT MEANS FOR YOU

President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends — as opposed to raising — the debt ceiling until 2025, after the next presidential election. The FRA also makes a variety of changes related to…

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