Question: Is it preferable to allow an employee designated for termination to resign? Answer: Yes, allowing an employee to resign voluntarily can be preferable in certain situations. “Resignation in lieu of termination” can offer a more dignified exit for the...
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Are Ministry Dues Deductible?
Ministry dues can qualify as a professional expense under the Internal Revenue Code if they meet certain criteria. According to the Internal Revenue Code and relevant regulations and rulings, the deductibility of such expenses depends on whether they are considered...
How Bonuses Are Taxed?
Many employers typically pay year-end bonuses in the first quarter of the year. If you received a bonus for the first time this year, you may be surprised at the net amount of your "windfall." WHY THE SURPRISE? Work bonuses are classified as supplemental wages, which...