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TL;DR Accounting Blog

Student Loan Payments by Employer

Student Loan Payments by Employer

Does your employer know that they can pay down up to $5,250 of your student loans annually, without increasing your income taxes? This is the kind of benefit that really helps employees and many employers wouldn’t mind chipping in, so it’s certainly the kind of thing that more people should know about! Let’s start by covering essential information about the CARES Act that created this benefit, as well as some practicalities of the benefit itself, before discussing some other education-related benefits that may help. What is the CARES Act? The CARES Act (Coronavirus Aid, Relief, and Economic Security Act) that…
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Restricted Stock Unit Taxes: Your W-2 & Everything Else You Should Know

Restricted Stock Unit Taxes: Your W-2 & Everything Else You Should Know

In 1999, Bonnie Brown saw an ad for an in-house masseuse position at a 40-employee startup business in Silicon Valley. It was a part-time job that paid $450 per week but also offered stock options. She figured these stock options might be worthless, but nevertheless accepted the job. It turns out that this tech startup was called Google, and Bonnie Brown became a multimillionaire 5 years later. Does your company compensate you with RSUs (Restricted Stock Units)? If so, you have some decisions to make. Just don’t hold your breath about becoming a multimillionaire based on options alone — be…
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Single-Member LLCs and Schedule C

Single-Member LLCs and Schedule C

Are you a corporation? Do you find yourself breathing cash flow and snacking on accounts receivable, and was your birth recorded on your Articles of Incorporation? We’re just kidding; no living breathing person is a corporation (if you take away the living breathing part, it’s a different story). Regardless, you might be doing business as a corporation, and you might be the only person who works for this corporation. If this is the case, you are probably a Single-Member Limited Liability Corporation (SMLLC). Note: A married couple can also count as a single member for an SMLLC depending on the…
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