Tag: tax deduction

It’s Party Time! Can Employers Deduct Costs for Internal Networking Events?

By Emily R. Selner, Axley Attorneys Jun 27, 2022 HR Management & Compliance

Updated: Jun 27, 2022

In 2020, the employer-employee relationship was forever altered. The COVID-19 outbreak disrupted industries, halted travel, and changed the way employees work. Employers have been forced to adapt to a tight employment market and workers’ needs. Some companies have decided to offer remote work opportunities and flexible schedules. With work from home becoming the norm, employers […]

Business’s Retirement Plan Tax Deduction Can Increase Owners’ Personal Tax Deductions

By Paul Protos, Contributing Editor Sep 24, 2018 Benefits and Compensation

Updated: Feb 11, 2020

Retirement plans always have been an excellent vehicle for creating current tax deductions for businesses. For a business that passes through income to its owners, the business’s retirement plan often is designed to reduce each owner’s personal taxable income by a share of the retirement plan’s contributions.