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Accounting software typically sells itself as much more than simple spreadsheet or ledger. The products tend to pride themselves on being comprehensive accounting information systems — depending on the price point, of course. So, is your accounting software living up to the hype? If not, there are a couple of relatively simple steps you can take to improve matters. Train and retrain Many businesses grow frustrated with their accounting software...
Read moreIf you’re getting close to retirement age, you may be wondering if your Social Security benefits are going to be taxed. And if so, how much will you have to pay? https://www.gpkleg.com/income-tax/you-may-have-to-pay-tax-on-social-security-benefits/
Read moreNonqualified deferred compensation (NQDC) plans pay executives or other key employees at some time in the future for services to be currently performed. If your organization offers one or is considering offering one, it’s critical to be aware of the applicable tax rules. Let’s review the basics. How they differ NQDC plans differ from qualified plans, such as 401(k)s, in a variety of ways. First, NQDC plans can favor highly...
Read moreDuring your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you start receiving Social Security benefits, you may be surprised to learn that some of the payments may be taxed. If you’re getting close to retirement age, you may be wondering if your benefits are going to be taxed. And if so, how much will you have to...
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