Tax | Business Management Company

Tax-free fringe benefits help small businesses and their employees

October 11, 2018 / by Brett Hess / Small Business, Tax

In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Benefits that are tax-free are especially attractive to employees. Let’s take a quick look at some popular options. Insurance Businesses can provide their employees with various types of insurance […]

HSA + HDHP can be a winning health benefits formula

September 4, 2018 / by bmc_admin / Small Business, Tax

If you’ve done any research into employee benefits for your business recently, you may have come across a bit of alphabet soup in the form of “HSA + HDHP.” Although perhaps initially confusing, this formula represents an increasingly popular model for health care benefits — that is, offering a Health Savings Account (HSA) coupled with, as […]

Why the “kiddie tax” is more dangerous than ever

August 17, 2018 / by bmc_admin / Tax

Once upon a time, some parents and grandparents would attempt to save tax by putting investments in the names of their young children or grandchildren in lower income tax brackets. To discourage such strategies, Congress created the “kiddie” tax back in 1986. Since then, this tax has gradually become more far-reaching. Now, under the Tax […]

Do you still need to worry about the AMT?

August 13, 2018 / by bmc_admin / Tax

There was talk of repealing the individual alternative minimum tax (AMT) as part of last year’s tax reform legislation. A repeal wasn’t included in the final version of the Tax Cuts and Jobs Act (TCJA), but the TCJA will reduce the number of taxpayers subject to the AMT. Now is a good time to familiarize […]

The Tax Impact of the TCJA on Estate Planning

July 5, 2018 / by bmc_admin / Tax

The massive changes the Tax Cuts and Jobs Act (TCJA) made to income taxes have garnered the most attention. But the new law also made major changes to gift and estate taxes. While the TCJA didn’t repeal these taxes, it did significantly reduce the number of taxpayers who’ll be subject to them, at least for […]

Factor in state and local taxes when deciding where to live in retirement

July 3, 2018 / by bmc_admin / Tax

Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision. Income, property and sales tax Choosing a state that has no personal income tax may appear to be the best option. But that might not be the case once you […]

2018 Q3 tax calendar: Key deadlines for businesses and other employers

June 19, 2018 / by bmc_admin / Tax

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. July […]

Saving tax on restricted stock awards with the Sec. 83(b) election

June 14, 2018 / by bmc_admin / Small Business, Tax

Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package. The tax consequences of such compensation can be complex — subject to ordinary-income, capital gains, employment and other taxes. But if you receive restricted stock awards, you might have a tax-saving opportunity in the form of the Section […]

Be aware of the tax consequences before selling your home

May 21, 2018 / by Brett Hess / Tax

In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences. Home sale gain exclusion […]

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