Blog Posts

Encourage Your Employees To Review Federal Withholding Each Year

4/13/2022

The IRS says, "All taxpayers should review their federal withholding each year to make sure they're not having too little or too much tax withheld." However, employees may not be aware of the IRS' suggestion, which is why employers should tell them about it.

Consider These Tips for Early Retirement

4/13/2022

Retiring early is a goal for many people. However, according to findings from the Boston College Center for Retirement Research, the average age of retirement has risen to 65.7 years old for college-educated men, 62.8 years old for college-educated women and around 62 years old for people whose highest level of education is a high school diploma.

Filing the Final Tax Return

3/30/2022

As a survivor, executor or administrator of an estate, you are obligated to file an income tax return reporting all the deceased's income up to his or her date of death. You will need to be aware of all the credits and deductions the deceased is allowed as if that person had been alive to do it themselves.

Management at a Nonprofit

3/30/2022

As a manager, you are responsible for ensuring that your team is motivated, engaged and productive. This is true in any organization, but it has special meaning in a nonprofit, where you are all (hopefully) working toward a common mission. Indeed, how you go about this process is just as important as the process itself. How can you be a better manager for your staff and make them feel valued in your organization? Here are some tips you can use starting today.

The Tax Situation When You Have Employees

3/30/2022

Once you have at least one person working for your business, you're an employer. Being an employer comes with a wide range of responsibilities, including withholding, depositing and paying employment taxes. How can you make sure you're fulfilling all your tax duties to avoid getting hit with fines and fees?

Tax-Free Municipal Bonds: Worth It?

3/16/2022

Municipal bonds are stable, income-producing vehicles that are used to fund local and state government projects, such as buildings and highways. They are also tax free at the federal level. Are they right for you? What else should you be weighing in your decision about whether to invest in tax-free municipal bonds?

Just What Is HIPAA?

3/16/2022

The Health Insurance Portability and Accountability Act protects Americans with health-related conditions from exclusions, limitations and discrimination in group health coverage. It also imposes confidentiality rules on medical professionals regarding patients' records. Indeed, cyber thieves see data as a commodity, and patients' digital medical records are 50 times more valuable than financial information, according to security experts. Civil penalties for breaking HIPAA rules range from $100 for an unknowing violation to $1.5 million for willful neglect.

IRS Provides Updated Guidance on the EITC

3/16/2022

According to the IRS, the EITC is one of the government's largest refundable tax credits for low-to-moderate-income families. The recent expansion of this credit means that more people may qualify to have some much-needed money put back in their pocket.

Flexible Work Is Key to Retention

3/16/2022

In a flexible work arrangement, employees typically get to choose their work location and their work arrival and departure times. They may also have the ability to schedule their workday however they see fit. But as noted by the Department of Labor, "Under some [flexible work] policies, employees must work a prescribed number of hours a pay period and be present during a daily 'core time.'"

Taxes and Business Startups

3/2/2022

Have you given thought to your tax responsibilities, and the choices you need to make about them, as you start a business? To begin with, you have to consider what form of business entity to establish. Some common forms are sole proprietorship, partnership, corporation and S corporation. There's also the limited liability company, a business structure allowed by state statute. For federal tax purposes, it is considered a corporation or partnership.

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Encourage Your Employees To Review Federal Withholding Each Year

Consider These Tips for Early Retirement

Filing the Final Tax Return

Management at a Nonprofit

The Tax Situation When You Have Employees

Tax-Free Municipal Bonds: Worth It?

Just What Is HIPAA?

IRS Provides Updated Guidance on the EITC

Flexible Work Is Key to Retention

Taxes and Business Startups

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Newsletter articles are posted every 2 weeks.