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Recent News & Blog

  • The next estimated tax deadline is September 16: Do you have to make a payment?

    If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The third 2019 estimated tax payment deadline for individuals is Monday, September 16.

  • Creating Statement Charges in QuickBooks

    There’s more than one way to bill customers for your products and services. A statement charge is one of them.

  • Putting together the succession planning and retirement planning puzzle

    Everyone needs to plan for retirement. But as a business owner, you face a distinctive challenge in that you must save for your golden years while also creating, updating and eventually executing a succession plan.

  • Offering group term life insurance through a cafeteria plan

    Many employers wish to offer group term life insurance as a fringe benefit but find the premiums unaffordable. Under such circumstances, you could provide the coverage and have employees pay the premiums pretax through an existing cafeteria plan. Just be sure you understand the tax impact.

  • The key to retirement security is picking the right plan for your business

    If you’re a small business owner or you’re involved in a start-up, you may want to set up a tax-favored retirement plan for yourself and any employees. Several types of plans are eligible for tax advantages. 401(k) plan

  • Expenses that teachers can and can’t deduct on their tax returns

    As teachers head back for a new school year, they often pay for various expenses for which they don’t receive reimbursement. Fortunately, they may be able to deduct them on their tax returns. However, there are limits on this special deduction, and some expenses can’t be written off.

  • Expanded 529 plans offer unique estate planning benefits

    If you’re putting aside money for college or other educational expenses, consider a tax-advantaged 529 savings plan. Also known as “college savings plans,” 529 plans were expanded by the Tax Cuts and Jobs Act (TCJA) to cover elementary and secondary school expenses as well.

  • Employers can truncate SSNs on employees’ W-2s

    The IRS recently issued final regulations that permit employers to voluntarily truncate employee Social Security Numbers (SSNs) on copies of Forms W-2 furnished to employees. The purpose of the regs is to aid employers’ efforts in protecting workers from identity theft.

  • The tax implications of a company car

    The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars.

  • 4 tough questions to ask about your sales department

    Among the fastest ways for a business to fail is because of mismanagement or malfeasance by ownership. On the other hand, among the slowest ways is an ineffective or dysfunctional sales department.

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