Your Retirement Savings and Taxes

Your Retirement Savings and Taxes

With tax-defered retirement vehicles such as 401K plans and traditional individual retirement accounts (IRAs), you can hold off paying taxes until you withdraw the funds. However, when you withdraw you have to pay taxes at ordinary income tax rates, regardless of...
Flexibility in Withholding on Fringe Benefits

Flexibility in Withholding on Fringe Benefits

Normally, your company isn’t required to withhold taxes on non-taxable fringe benefits. After all, the employees generally won’t have to pay income tax or FICA on those benefits anyway. But taxable non-cash fringe benefits are a different story. They...
Addressing Gender-Based Pay Discrimination

Addressing Gender-Based Pay Discrimination

The federal Equal Pay Act (EPA) has been on the books for half a century. President Kennedy signed the legislation in 1963, but it has not wiped out unequal pay. In recent years, the Equal Employment Opportunity Commission (EEOC) has made a priority of rooting out pay...
Don’t Get Personal with Struggling Employees

Don’t Get Personal with Struggling Employees

When employees’ work quality plunges, it’s important to find out why and look for a solution, but the next step can be tricky. Looking for answers without getting personal is key to maintaining a good working environment and handling a potentially sticky...
What’s Your Real Marginal Tax Rate?

What’s Your Real Marginal Tax Rate?

If you answer that question by looking at the tax rate tables that show rates of 10, 15, 25, 28, 33, and 35 percent, you could be understating your real marginal tax rate. Your marginal tax rate could be higher due to numerous provisions that phase out or limit...