Five Things You Need for the July 15 Tax Filing Deadline
What to remember for the new 2020 Tax Deadline Normally at this time of year, your income tax returns would be a distant memory. But this is not a normal year. The IRS pushed the April 15…
Tag: Taxes
FAQs about Long-Term Care Insurance and Your Taxes
If you or a loved one needs long-term care, you probably don’t want to pay it from your hard-earned savings. Instead, consider purchasing a long-term care (LTC) insurance policy. As a bonus, qualified LTC policies may deliver some…
Employers: Beware Of A Harsh Payroll Tax Penalty
If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh penalty can be imposed. To make matters worse, the penalty can be assessed…
5 Last-Minute Ideas to Lower Your 2018 Taxes
It’s almost Tax Day! But don’t despair; there still may be time to make some moves that will save taxes for your 2018 tax year. Here are five tax-saving ideas to consider. Choose to Deduct State and Local SalesTaxes …
Is Your Non-profit Overpaying For Unemployment Insurance?
Is your non-profit overpaying unemployment tax? Many employers are and are unaware. This post will provide you with insight on how to discover if you are overpaying and solutions on reducing these costs. Ensure Accuracy of Unemployment…
Small Business Guide: Avoiding Payroll Tax Penalties
For many small businesses, managing your payroll can be one of the most challenging tasks. But adding to the burden this year was adjusting income tax withholding based on the new tables issued by the IRS. (Those…
Does Your Business Need to Collect Sales Tax on Out-of-State Online Sales?
Have you heard about the recent Supreme Court decision, South Dakota v. Wayfair, Inc., allowing state and local governments to impose sales taxes on out-of-state online sales? The ruling may be good news for many brick-and-mortar retailers…
New Legal Case on Affordable Care Act (ACA) Could Affect Employer and Individual Health Insurance
The Affordable Care Act (ACA) has been a hot topic of conversation since it was enacted in 2010. The latest legal case questions whether insurance carriers will still be required to issue coverage to individuals without regard to…
2018 Q3: Key Tax Deadlines for Businesses
The following is a list of key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. However, this list is not all-inclusive. There may be additional deadlines that could apply to you and…
2 New Tax Laws Affecting Your Business’s 401(k) Plan
When you think about recent tax law changes and your business, you may consider the new 20% pass-through deduction for qualified business income or changes to depreciation-related breaks. But there are also a few tax law changes…
Small Business Owner’s Guide to the Tax Treatment of Bitcoin and other Virtual Currency
Over the past years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, and while many smaller businesses are not yet taking it as payment, the trend of accepting bitcoin…
TCJA Changes for Deducting Pass-Through Business Losses
It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs Act (TCJA) further restricts the number of…
