Tax Tips | Sciarabba Walker & Co., LLP

Awards of RSUs can provide tax deferral opportunity

Jun 29, 2016 | Small Business, Tax Tips

Executives and other key employees are often compensated with more than just salary, fringe benefits and bonuses. They may also be awarded stock-based compensation, such as restricted stock or stock options. Another form becoming more common is restricted stock units...

Throw a company picnic for employees this summer and enjoy larger deductions

Jun 22, 2016 | Small Business, Tax Tips

Many businesses host a picnic for employees in the summer. It’s a fun activity for your staff, and you may be able to take a larger deduction for the cost than you would on other meal and entertainment expenses. Deduction limits Generally, businesses are limited to...

Finding the right tax-advantaged account to fund your health care expenses

Jun 17, 2016 | Health Insurance, Tax Tips

With health care costs continuing to climb, tax-friendly ways to pay for these expenses are more attractive than ever. Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Accounts (HRAs) all provide opportunities for...

Combine business travel and a family vacation without losing tax benefits

Jun 7, 2016 | Tax Tips

Are you thinking about turning a business trip into a family vacation this summer? This can be a great way to fund a portion of your vacation costs. But if you’re not careful, you could lose the tax benefits of business travel. Reasonable and necessary Generally, if...

Stock market volatility can cut tax on a Roth IRA conversion

Jun 1, 2016 | Tax Tips

This year’s stock market volatility can be unnerving, but if you have a traditional IRA, this volatility may provide a valuable opportunity: It can allow you to convert your traditional IRA to a Roth IRA at a lower tax cost. Traditional IRAs Contributions to a...

How summer day camp can save you taxes

May 17, 2016 | Tax Tips

Although the kids might still be in school for a few more weeks, summer day camp is rapidly approaching for many families. Did you know that sending your child to day camp might make you eligible for a tax credit? The power of tax credits Day camp (but not overnight...