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Organizations that want to apply for recognition of tax-exempt status under Section 501(c)(3) of the tax code use a Form 1023-series application. Here are some tips to help them understand the process. • The application process on IRS.gov includes a step-by-step guide explaining how to apply...

Below are five types of employee leave that sometimes fly under employers’ radar: 1. Bereavement leave   Bereavement leave lets employees take time off to mourn the loss of a loved one — usually an immediate family member or a close relative. Employees can use the time off...

Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) are tax-favored health plans that enable people to save money to pay for medically related expenses. Both FSAs and HSAs operate like a personal savings account. However, the money in these accounts can only be used for...

Dear Texas Client, Due to the unprecedented Pandemic that has affected individuals and businesses alike since last year, the Texas Workforce Commission (TWC) delayed the annual issuance of state unemployment tax rates from December 2020 to June 2021. This delay allowed Texas time to consider and implement legislation...

If you are a minister, chances are you spend a lot of time on the phone, especially during the Pandemic. Fortunately, ministers can deduct these expenses on their schedule SE, but there are several things you have to keep in mind. First, you have to be...

There are many ways to run afoul of overtime laws. Below are some of the most common — review them to ensure that you're always in compliance. Misclassifying exempt and nonexempt employees   Under the Fair Labor Standards Act, exempt employees do not have to be paid overtime...

If your payroll provider handles your payroll-processing responsibilities, you might not see the need to learn the ins and outs of calculating net pay. But imagine an employee seeking clarification on his or her take-home pay — do you know all the details? It's important to...

This is the first of two tax tips providing an overview of how the American Rescue Plan may affect some individual’s 2021 taxes. Child and dependent care credit increased for 2021 only   The new law increases the amount of the credit and the percentage of employment-related expenses...