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Tag: Bookkeeping & Payroll Services

September 24, 2024

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Tax Treatment of Work-Life Referral Services

The IRS has provided informal guidance on the federal income tax treatment to an employee of certain work-life referral services offered as an employee benefit. What Is a Work-Life Referral Program? A work-life referral program is an employer-provided benefit that helps eligible employees find and access resources to address personal, family, or work-related challenges. Rather […]

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September 10, 2024

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After a Massive Breach, Is Your Data in Danger?

National Public Data, a consumer data broker, confirmed last week that a hacker had targeted the company in December 2023, “with potential leaks of certain data in April 2024 and summer 2024.” Other reports indicate that this leaked data had been found on the dark web and could include the names, addresses, phone numbers, and […]

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September 3, 2024

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2025 Key Numbers for Health Savings Accounts

The IRS recently released the 2025 contribution limits for health savings accounts (HSAs) and the 2025 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs). What is an HSA? An HSA is a tax-advantaged account that enables you to save money to cover healthcare and medical costs that your insurance doesn’t pay. The […]

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August 22, 2024

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Interest Rates on Federal Student Loans Jump to Decade Highs for 2024-2025 Year

Every May, interest rates on federal student loans are reset for the upcoming school year. The rates are calculated by combining the 10-year U.S. Treasury note yield with an extra fixed amount set by Congress. Based on this calculation, interest rates on federal student loans are set to increase for the 2024-2025 school year by […]

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bookkeeping services in Forest hills
August 13, 2024

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Real Estate Commission Changes Around the Corner

In March 2024, the National Association of Realtors (NAR) reached a landmark $418 million settlement after losing an antitrust lawsuit filed by a group of home sellers. As many as 50 million people who paid commissions on homes sold in recent years could receive a small amount from the class-action settlement. The powerful industry group […]

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August 6, 2024

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Real Estate Roundup: Feeling the Impact of Higher Rates

U.S. commercial real estate prices fell more than 11% between March 2022, when the Federal Reserve started hiking interest rates, and January 2024. The potential for steeper losses has chilled the market and still poses significant risks to some property owners and lenders. On the residential side of the market, the national median price of […]

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July 24, 2024

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The Economic Impact of an Aging World

During the week of June 10, 2024, French markets were rocked by a government bond sell-off after a strong showing by the far-right National Rally party in the European Union election. With polls suggesting the party might win a plurality of seats in the upcoming French parliamentary election, investors feared a promised social spending program, […]

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May 13, 2024

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Can Productivity Keep Driving the U.S. Economy?

The productivity of U.S. workers increased by 2.7% in 2023 — well above the average annual rate of 2.1% since the end of World War II, and a dramatic change from 2022, when productivity dropped by 2.0%. It’s also a big improvement over the 0.9% growth rate in 2021. According to the nonpartisan Congressional Research […]

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May 2, 2024

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What to Know About T Plus 1 Trade Settlement

On May 28, 2024, settlement cycles on U.S. stocks and other securities will shift from two business days to one. For most investors, this shift will have little or no impact. But it will affect some investors and certain types of transactions. It may be helpful to understand the basics of this important change. T+1 […]

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February 16, 2024

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There’s Still Time to Fund an IRA for 2023

The tax filing deadline is fast approaching, which means time is running out to fund an IRA for 2023. If you had earned income last year, you may be able to contribute up to $6,500 for 2023 ($7,500 for those age 50\ or older by December 31, 2023) up until your tax return due date, […]

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