The straight line

If you’re headed back in the classroom, or thinking about it, you might be wondering if the tuition expenses are tax deductible. To be considered work-related education for business deduction purposes, the training must meet one or both of the following standards: Standard No. 1: The education is expressly required by applicable law or regulations in order...

The tax law allows you to deduct your personal losses resulting from casualties and thefts within certain limits. And a “theft” for tax purposes isn’t strictly limited to house burglaries or stolen cars. However, as you will see from several U.S. Tax Court cases, the deduction can hinge on the application of state law. Basic ground...

Could your data be hacked? Unfortunately, every organization — including for-profit businesses, not-for-profits and government agencies — is vulnerable to cyberattacks today. Examples abound. In September, Equifax reported a data breach that exposed the credit histories and other information of 145.5 million Americans. Shortly thereafter, the Securities and Exchange Commission (SEC) reported a hacking incident that...

In today’s economy companies in many industries are forced into massive layoffs to ensure their survival. While those cutbacks are necessary, the decision to let a significant portion of your workforce go carries potential legal, financial and public relations consequences. When faced with downsizing, you need to minimize anxiety and disruption while maximizing the morale of...

One of the most costly — yet easily prevented — disasters for any business is the failure to secure ownership of intellectual property (IP). Here are the details you need to know. Under the law, the ownership of copyrights and inventions may actually belong to your employees and independent contractors unless there is a prior written...

The Work Opportunity tax credit (WOTC) is a federal income tax credit that’s available to businesses that hire members of certain “targeted” groups. Here’s how your business may be able to benefit from this potentially lucrative tax break. The Basics The WOTC encourages businesses to hire from certain categories of workers who face significant barriers to...