Employment Archives - 2012 Tax to 2024 Tax

Five Ways to Avoid Destroying Your Retirement

As an old Chinese proverb goes, “the journey of a thousand miles starts by a single step” What does this Chinese proverb mean? That today is the best day to start saving for your retirement if you have not started doing so already. Unfortunately, saving for retirement has always been a very sore subject for most people all over the world, but it is a true fact that married couples need to treat it with the seriousness and magnitude that it deserves.

Of you are planning to retire by the time you reach the age of 65, it means that … Read the rest

Which “Perks” need to be Declared on your Tax Return

A perk or fringe benefit is a financial benefit that your employer provides for you. Whether that benefit is taxable depends on a number of factors. The tax implications of many fringe benefits are well understood. Here are some less familiar tax implications:

Airline Miles Become Taxable

Earlier this year (prompted by a claim by Citibank that the miles it grants its customers upon opening an account (among other items) are gifts and therefore the recipient is on the hook for paying taxes) the IRS publicly stated that the value of frequent-flier miles are “provided as a premium for opening … Read the rest