Holiday Gifting with a Tax Twist
Some holiday gifts you provide to members of your family, employees, and others may also yield tax benefits. Here are some examples: Employee Gifts – It is common practice this…
Employer-Offered Benefits That Can Save You Money and Taxes
Tax law includes a number of tax- and financially favored benefits that employers can offer or provide to their employees. This article is intended to make you aware of these…
Don’t Overlook These Essential Small Business Tax Credits
At their core, tax credits are a very particular type of benefit designed to offset the actual tax liability associated with SMBs around the country. This isn’t the same thing…
3 Common Personal Income Tax Problems & How to Respond
Tax problems aren’t just a worry that hang over people’s heads from January through April every year. Many of them go far beyond the numbers that you report, and they…
Are You Subject to Self-Employment Tax?
Self-employed individuals, unlike employees, don’t have someone withholding Social Security or Medicare (FICA) taxes along with pre-payments toward their federal (and state, where applicable) income tax from their wages during…
9 Signs You Need an Accountant
As a small-business owner, up until this point, you may have managed your money successfully. Software programs like QuickBooks make it possible, even if you don’t have much financial knowledge…
70-1/2 or Older? Avoid an IRS Penalty by Taking the Correct Retirement Plan Distribution
If you are age 70-1/2 or older and have a traditional IRA, a 401(k), or a SEP IRA, the tax law requires you to take at least a minimum amount…
Want to Turn Your Business Loss to a Profit?
Constrained cash flow is usually why most companies fold within the first two to three years of operation and often get overlooked by busy entrepreneurs focusing primarily on raising funds…
Tax Changes For 2019
As the end of the year approaches, now is a good time to review the various changes that impact 2019 tax returns. Some of the changes are likely to apply…
Video: The Difference Between a Tax Credit and Tax Deduction.
This video will detail the important difference between tax deductions and tax credits. In general, a deduction reduces taxable income, whereas a credit reduces the tax itself. Watch to learn…