The National Flood Insurance Program was created by Congress in 1968 to help property owners financially protect themselves. The program offers flood insurance to homeowners, renters and business owners if their community participates in it, and remains the main source of flood insurance in the United States.
An ESOP is not the only way for employees to own a company, but it is by far the most common. Although the concept was almost unknown until 1974, by 2014, about 7,000 companies had ESOPs covering 13.5 million employees, according to the National Center for Employee Ownership, a nonprofit membership group that provides information and research on ESOPs.
An ESOP can work in a variety of ways. Employees can buy stock directly, be offered it as a bonus, receive stock options or obtain stock through a profit-sharing plan. Some employees become owners through worker cooperatives in which every staffer has an equal vote.
The IRS has some advice for you: Review your withholding amount. Why? You just may avoid having too much or too little federal income tax taken from your paycheck. After all, if you have the correct amount withdrawn, you get closer to a zero balance at the end of the year when you file your return — in other words: no taxes owed and no refund due.
Striking the right balance between empowerment and accountability is not easy, but the effort can foster greater initiative and innovation for employees, and in owners, the transition from managing to leading.
So, how can you keep employees accountable, eliminating the need for you to hover? When employees believe that management trusts them without looking over their shoulders, they can carry a lot of responsibility.
As an employer, you normally have to file a quarterly Form 941 to report your employees' wages and withholding. Each quarter, if you pay wages subject to income tax withholding (including withholding on sick pay and supplemental unemployment benefits) or Social Security and Medicare taxes, you must file a Form 941, although there are some exceptions.
In these times of Facebook's Mark Zuckerberg wearing t-shirts and hoodies at work, you may think that the idea of dressing for success has been upended to some degree, but it's still pretty clear that what works in Silicon Valley would be out of place on Wall Street and vice versa.
It may seem like a simple decision: What kind of credit card should I get? However, there are long-term implications, and the kind of credit card you use and how you use it can have major effects. Whether you're thinking about the next quarter or what happens to your estate plan, you should review your credit card situation.
Damage from natural disasters, fire, accidents, thefts or vandalism is often tax-deductible if the loss is major and not covered by insurance or other reimbursements. If your area receives a federal disaster designation, you may be able to claim the loss sooner. If you suffer damage to your home or personal property, follow these IRS-provided tips to help you determine what events get you a tax break:
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