The straight line

When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs (though of course the specific rules are more complex). If when filing your 2014 income tax return you’ve found that your business had an NOL, there is an upside: tax benefits. When a business incurs a qualifying NOL, the loss...

The Internet has revolutionized our lives. It facilitates financial transactions and the transmission of information. But with opportunities come risks. If you feel like you’ve lost control of your “digital dossier,” you’re not alone. There are weekly news stories about sensitive personal data being hacked online and sold on the black market. Risks Abound Online surveillance...

As the weather and economy continue to warm up, employers around the country may be looking to hire more workers, including some already employed at high-paying jobs. If you go to work for a new firm — or your current employer transfers you to a different branch — you may be able to deduct certain moving...

When unused flexible spending account (FSA) balances are forfeited back to employers under the “use-it-or-lose-it” rule, employers have several options for what they can do with the money. Here is what employers need to know after first covering some necessary background information. Flexible Spending Account Basics Under an employer-sponsored flexible spending account (FSA) plan, employees can...

Although it may not seem like it initially, a divorce is a major financial transaction. As such, it has serious tax implications and potential tax pitfalls. This is especially true when it comes to splitting up tax-favored retirement accounts between divorcing spouses. Planning ahead is critical to getting good tax results. Use a “QDRO” to...

The IRS considers a paper return that’s due April 15 to be timely filed if it’s postmarked by midnight on April 15. But dropping your return in a mailbox on the 15th may not be sufficient. For example, let’s say you mail your return with a payment on April 15, but the envelope gets lost....