Office Parties and Other Entertainment: How Much is Deductible?

This is the time of year for office parties and other entertainment.  In this segment of our Tax Update we discuss the rules for deducting entertainment expenses provided for your employees. 

Accelerated Depreciation Opportunities

Whether you are expanding your business to create an infrastructure for home delivery, enlarging your store’s warehouse capacity, or any other plans which require a significant capital outlay, you should always consider accelerated depreciation opportunities.

401(k) and SEP Employer Contribution Plans – Matching Contributions

As a business owner, you know the important role that employee benefits play in keeping employee morale high.  Today’s Tax Update focuses on a couple of those benefits – retirement contributions for your employees! 

Urgent Update: Department of Labor Ruling Blocked

Late yesterday, the United States District Court of Eastern Texas issued an emergency injunction to blockthe Department of Labor’s ruling on overtime pay, which was set to take effect on December 1st. TheDOL’s ruling would have required employers to pay overtime to employees making under $47,476 peryear at a rate of time and one half their regular hourly pay, for all hours worked over 40 per week.

529 Plans

A 529 plan is a qualified tuition plan that is designed to help with future educational costs.  These plans are exempt from federal taxes and often have tax benefits at the state level for in-state residents. 

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