May 24th, 2016 by Christian Wynns
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, […]
May 19th, 2016 by Christian Wynns
Even if you have a valid will, you may need to draft a new one for a variety of reasons. A will is an essential part of planning for the future. But don’t think creating a will is a one-time proposition. Even if you have a valid document, you may need to draft a new will for […]
May 17th, 2016 by Christian Wynns
This election season, Republicans and Democrats don’t seem to agree on much. But 95% of voters — regardless of which U.S. presidential candidate they favor — support American-made products. The vast majority of Americans also favor training programs, trade enforcement, tax incentives and a national strategy to support U.S. manufacturing, according to the Alliance for […]
May 13th, 2016 by Christian Wynns
Last September, President Obama issued an executive order requiring federal contractors to allow employees at least seven days of paid sick leave. Proposed regulations issued in late February 2016 added flesh to the bones of the executive order. Final regulations are to be published and will take effect by September 30. The number […]
May 10th, 2016 by Christian Wynns
With Health Savings Accounts (HSAs), individuals and businesses buy less expensive health insurance policies with high deductibles. Contributions to the accounts are made on a pre-tax basis. The money can accumulate year after year tax free, and be withdrawn tax free to pay for a variety of medical expenses such as doctor visits, prescriptions, […]
May 6th, 2016 by Christian Wynns
Here’s a reminder about the tax rules for owners of Savings Bonds. Generally, interest on savings bonds must be reported as income on the 1040 in the year the bonds mature or when they are redeemed, whichever is earlier. Holders of HH bonds report and pay US tax on interest annually as it’s paid to them. […]
May 4th, 2016 by Christian Wynns
Maybe it’s a good thing that the April 15th federal tax deadline coincides with the urge to spring clean. It feels good to throw out some of the financial records stuffing your filing cabinets. But before you head for the dumpster, make sure you’re not disposing of records you may need. You don’t […]
April 29th, 2016 by Christian Wynns
The major U.S. card companies — including Visa, MasterCard, Discover and American Express — voluntarily imposed a shift of liability for counterfeit “card present” transactions that went into effect for most merchants on October 1, 2015. (Gas stations with automated fuel dispensers have until October 1, 2017, before their liability on counterfeit cards […]
April 26th, 2016 by Christian Wynns
Recently, news broke that Prince Rogers Nelson was found dead in his home in Minneapolis at age 57. He was found unresponsive in an elevator and was declared dead shortly after. Internet criminals are going to exploit this celebrity death in a number of ways, so be careful with anything related to Price’s death: emails, […]
April 20th, 2016 by Christian Wynns
From mobile apps to the Internet, technology has transformed our lives. It facilitates financial transactions and the transmission of information. But it also brings risks. There are weekly news stories about sensitive personal data being hacked online and sold on the black market. Thieves use personal data to access accounts, open new ones, complete […]
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