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21 Financial Events and Trends During 2021

Money Talk

Supply Chain Shortages - 2021 saw shipping delays for imported merchandise, retailers having difficulty getting inventory, unfinished products waiting for computer chips, and a truck driver shortage which delayed freight deliveries. There was also late notice of tax exemption for up to $10,200 of 2020 unemployment benefits.

Finance 363
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Buyer’s guide to retail and discount voucher schemes

Employee Benefits

What are retail and discount voucher schemes? Second, discount vouchers might be provided for post-tax purchases. Retail discount and voucher schemes are typically provided through a dedicated platform. Are there any tax or legal issues? Indeed, the salary sacrifice route can actually provide tax savings for staff.

Retail 98
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Make the Most of Free Money

Money Talk

Free money does not have any work requirement, however, and is often income tax-free. 50% for a fifty cent per employee dollar saved match) and is taxed as ordinary income in retirement. Like inheritances, life insurance is generally not subject to income tax. If they didn’t discover their tax error, they would not have it.

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What Taxes Do Businesses Have To Pay?

Kollath CPA

If you’re running a business, you’re on the hook for a variety of taxes. But What Taxes Do Businesses Have To Pay? Let’s take a look at the main categories: Income tax . All businesses except partnerships must file an annual income tax return. Estimated tax . Self-employment tax .

Taxes 95
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The Impact of Indexing: 13 Real World Examples

Money Talk

For example, the Consumer Price Index (CPI) measures changes paid by consumers for frequently-purchased retail goods and services. Income Tax Changes - Each year, income ranges for federal marginal tax brackets are indexed for inflation. Estate and Gift Tax Exemption - The exemption amount in 2022 will be $12.06

401(k) 232
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Highlights of Recent Webinars: Second Quarter Summary

Money Talk

While technically not a tax, IRMAA is a drag on payees’ bottom line. Tax Diversification - It is risky to put all your retirement savings in tax-deferred accounts (a.k.a., qualified plans) because you don’t know what future tax rates will be when required minimum distributions begin. tax-deferred, tax-free, taxable).

Finance 169
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Salary Sacrifice

Sodexo Engage

That’s before Payroll processes the tax and NIC calculations. Reducing the Gross pay amount lowers the tax and NIC contributions the employee and employer must make. Employee Discounts make everyday living more affordable, offering up to 20% off with over 100 retailers.

Salary 52