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Tax Advice: Why Upcoming Tax Deadlines Are Crucial

May 11, 2021

The IRS imposes penalties for failing to pay taxes due and failing to file required tax returns. With the May 17 filing deadline coming up, it’s a good time to review the amount of the penalties.
Tax Advice: What To Do If You Need More Time?

May 11, 2021

Americans got extra time to file their tax returns this year, but the deadline is looming. Here’s what to do if you’re not ready.
For Small Businesses: On Providing Education Assistance to Employees

May 11, 2021

Some employers offer educational assistance plans as a recruitment and retention tool. Here are the rules to help ensure the fringe benefit is tax free to employees.
Infographic: Keep Your Network's Connections Strong

April 21, 2021

Whether your employees are working from home, in office or on the move, you need to protect network connections from illicit access. Check out this infographic of quick things to consider.
For Small Business: On Simple Retirement Savings Options

April 21, 2021

Small business owners are sometimes reluctant to set up retirement plans because of the administrative burdens. Here are two options to consider that have less stringent requirements than traditional qualified retirement plans.
Tax Advice: How to Determine Your "Basis" During a Home Sale

April 20, 2021

When you sell your home, you’ll pay tax (or avoid it) based on the “basis” of the property. Here’s how to determine yours.
For Small Businesses: On "Reasonable Compensation" for a Corporate Business Owner

April 20, 2021

To keep executive compensation deductible, C corporation owners want to ensure it’s reasonable. Otherwise, it could be deemed a dividend. Here’s why it matters.
Tax Advice: For Those Unemployed in '20, Buying New Health Insurance in '21

April 20, 2021

Many tax changes have been enacted recently to help mitigate the financial damage caused by COVID-19. They may affect you if you collected unemployment last year or if you buy health insurance through a “Marketplace.”
Tax Advice: Who Qualifies for "Head of Household" Status?

April 15, 2021

If you qualify to file as a “head of household,” you may pay less tax than if you file your tax return as a “single” individual.
Tax Advice: Ensure Life Insurance Isn't Part of Your Taxable Estate

April 13, 2021

Life insurance benefits can help loved ones after your death. But you may want to keep proceeds from a policy out of your taxable estate. Here are some considerations.
For Small Businesses: Tax Advantages of Hiring Your Child

April 12, 2021

Thinking about hiring your teenager to work in your business? There can be significant tax benefits.
For Small Businesses: New Business Vehicle? Consider a Heavy SUV

March 30, 2021

The nice weather and the general downturn in COVID-19 cases has spurred some business owners to think about buying a car this spring. Here’s an option that may save on taxes.
Tax Advice: New Law Tax Break May Make Childcare Less Expensive

March 24, 2021

Child care is expensive. The newly enhanced child and dependent care credit may help for 2021.
For Small Businesses: Is An S Corp Your Best Choice of Entity

March 24, 2021

What is the best choice of entity for a new business venture? It might be an S corporation. Here’s why.
Tax Advice: What to Know About the American Rescue Plan Act

March 20, 2021

Are you eligible to receive direct payments under the new law that passed on March 11?
For Small Businesses: Highlights in the New American Rescue Plan Act

March 20, 2021

You’ve probably heard about the new law that provides direct payments to eligible individuals. But what does the law provide to businesses?
Tax Advice: Deadline Approaching for First 2021 Tax Payment Installment

March 10, 2021

Are you required to make estimated tax payments because you don’t pay enough tax in withholding? Here are the rules.
For Small Businesses: Some Tax Considerations for New Small Businesses

March 10, 2021

For tax purposes, there are many ways to conduct a business. For example, you may operate as an S corporation or a partnership. But many new ventures start out as sole proprietorships. Here are some tax considerations involved in operating with that entity.
Tax Advice: Retiring Soon? Recent Law Changes May Impact Your Savings

March 10, 2021

Saving for retirement can help make your future brighter. Recent tax law changes might allow you to save more with your IRA or retirement plan.
For Small Businesses: Work Opportunity Tax Credit Extended Through 2025

March 10, 2021

The Work Opportunity Tax credit was set to expire on Dec. 31, 2020. But a law passed late last year extends it through Dec. 31, 2025. Here’s how employers can benefit if they’re hiring.
Tax Advice: Didn't Contribute to an IRA Last Year? There May Still Be Time

February 27, 2021

Saving now for retirement is one of the best moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2020 tax return.
For Small Businesses: Do You Qualify for Home Office Deductions?

February 22, 2021

Business owners may be able to save tax with home office deductions. If you’re working from home (like lots of people these days), you may qualify. Here’s a rundown of the rules.
Infographic: The Risks of Borrowing from a Life Insurance Policy

February 20, 2021

Unemployment or other financial stressors may have you looking at the value of your life insurance policy. But before you borrow, review the potential pros and cons.
Tax Advice: There's Still Time to Get Substantiation for 2020 Donations

February 20, 2021

In order to claim a charitable deduction on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t received one yet for a charitable donation you made in 2020?
For Small Businesses: The Tax Implications of Buying or Selling?

February 16, 2021

Buying or selling a business may be the largest transaction you’ll ever make. Pay attention to taxes. After a deal is done, it may be too late to get the best tax results.

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