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3.8% Surtax on Unearned Income

  • October 10th, 2018

2018 – 10/10 Higher-income earners must be wary of the 3.8% surtax on unearned income. The surtax is 3.8% of the lesser of net investment income (NII) or the excess of modified adjusted gross income (MAGI) over a threshold amount. As year end nears, your approach to minimizing or eliminating the 3.8% surtax will depend…

Itemized vs Standard Deductions

  • October 10th, 2018

2018- 10/10 Beginning in 2018, many people who claimed itemized deductions year after year will no longer be able to do so. That’s because the standard deduction has been increased and many itemized deductions have been cut back or abolished. Some taxpayers may be able to “bunch” discretionary expenses into the year when they’ll do…

Tax-free fringe benefits help small businesses and their employees

  • October 10th, 2018

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…

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