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Tax Tips Small Business
Employee Meals: When Does the 50-Percent Limit Apply?
Don't reduce your deduction if you aren't required to
In most cases, an employer is only allowed to deduct one-half of the expense that is paid to employees for meals. However, in some instances, the full amount is allowed.
Small Business Quick Tip
| Employer-provided education assistance benefits of $5,250 provided under a written plan are excludable from wages. The education doesn't need to be job-related to qualify. |
Saturday, 19th May 2012
Tax Tips Personal
Saving for Your Retirement
Certain taxpayers are eligible for a tax creditIf your adjusted gross income is less than $50,000, you may be eligible for a nonrefundable credit against your income tax for elective contributions you make to §401 (k) plans, Read more...
Personal Quick Tip
| Contributions to your IRA must be made by the due date of your tax return. Generally this is April 15. Extending the due date of your tax return does not extend the due date of your IRA contribution. |