Six Overlooked Tax Breaks for Individuals
People are often concerned about what tax credits they can claim in their returns. In this article, the ABA Tax Accounting Blog lists the top six most overlooked tax credits for individuals. They include: state sales and Income taxes, child and dependent care tax credit, job search expenses, student loan interest paid by parents, medical expenses, and bad debt.
You Make 70k but You Cost Your Boss 88k
CNNMoney examines exactly how much employees cost employers. The article reports that on average, employers pay 18-26% more than an employees reported salary. Social Security, medicare, unemployment insurance, and healthcare costs account for the majority of reported expenses.
Three Proven Reasons a Small Business Should Consider a SEP Retirement Plan
A SEP or simplified employee retirement plan is a great option for small business, says the Borgida & Company Blog. Top reasons to consider the plan include the benefit of limited paperwork, funding flexibility, and flexibility with plan adoption.