Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Samantha (Sam) Silberstein, CFP®, CSLP®, EA, is an experienced financial consultant. She has ...

Section 4960 imposes a 21% excise charge on the portion of remuneration above $1m paid by ATEOs to their “covered employees”.

Businesses in the United States have to pay a variety of taxes on the products they sell. The most common example of this is sales tax. But in some cases, companies may also have to pay excise taxes.

What’s changing?: Section 4960’s “covered employee” definition now applies to all staff at applicable tax‑exempt organisations, not just top earners. Why it matters: The 21% excise tax on pay above ...

I am honored to write for Morningstar, and I hope you find my content useful. I work with advisors to help their clients avoid making technical and operational mistakes with their tax-deferred ...

Do you effect transfers of funds for US residents to recipients abroad? If so, you should review the provision of the “One Big Beautiful Bill Act” (“OBBBA”) that imposes a new excise tax on ...