Having employer provided life insurance can be an attractive fringe benefit. But if your coverage is over $50,000 and part of group term life insurance then there might be negative tax consequences. You’re taxed on income you didn’t receive The first $50,000 of group term life insurance coverage that your employer provides is excluded from […]

If your closely held corporation needs a loan and you are asked to be a guarantor, endorser, or indemnitor you should be aware of the consequences if the company defaults on the loan. Should this happen you could be liable for the principal and interest under the agreement. A business bad debt If you’re compelled […]

With inflation rising and the fears of a recession not going away, many companies have been keeping a close eye on costs, especially costs of their health insurance and pharmacy coverage. If you’re facing higher costs for health care benefits this year, it probably doesn’t come as a big surprise. According to the National Survey […]

Many expenses can be incurred if you have a family member with disabilities. There are tax advantages to save for their needs without them losing eligibility for government benefits that they are entitled to. This can be done through an Achieving a Better Life Experience (ABLE) account, which is a tax free account that can […]

Changes were made to retirement plans due to the enactment of the Secure 2.0 law. One of the provisions provides employers the opportunity to help staff in times of emergency. This is done through “pension-linked emergency savings accounts.” Effective for plan years beginning January 1, 2024, SECURE 2.0 permits a plan sponsor to amend its […]

It is important that all businesses devote time to cybersecurity. It is now a trend globally for hackers to prey on vulnerable companies. One way to protect yourself, at least financially, is to invest in cyberinsurance. If you decide to buy a policy, here are five tips to help make the application process a little […]

Federal student loan repayments have been on “hold” for the past three years. Borrowers will have to start making payments after August 31st. Taxpayers may wonder whether they can deduct the interest they pay on their tax return. The answer may be yes, subject to certain limits. The deduction is phased out if your adjusted […]

If your business receives large amounts of cash or cash equivalents, this is what you must know. You’re supposed to report these transactions to the IRS but not just on your tax return. The requirements Each person who receives more than $10,000 in cash in one transaction, or two or more related transactions, must file […]

Paid time off (PTO) can be a huge perk for employees. Whether they use the PTO for extra vacations after years of pandemic restricted travel, for mental health days, or anything in between, PTO benefits can be a big factor for potential employees and in keeping current employees happy. One option, if you have a […]

Many individuals may have a desire to make their home more energy efficient, either to help the planet or their wallets. The Inflation Reduction Act of 2022 may have given another incentive to making your home more energy efficient. Ask your Rudler advisor as you may be able to help offset the initial cost of […]