This can be a challenging time of year for my clients who hire independent contractors. By the very nature of the 1099 work relationship, if you did not have them complete their paperwork in 2017, you may have a challenge getting it now before we file...
Yes, I mean really looked at it? For my clients who are employees, this is the time of year that I suggest you really look at your pay stub. Are you taking advantage of all the tax reducing benefits you are offered? When we meet in...
The IRS urges taxpayers to wait until they have all the forms and documents needed before preparing a tax return. Most documents arrive before the end of January. This includes Forms W-2 from employers and Forms 1099 from banks and other payers. Those claiming the Premium...
From this weeks IRS Newswire. With the approach of the holidays and the 2018 filing season, the IRS, state tax agencies, and the nation’s tax industry urge people to be on the lookout for new, sophisticated email phishing scams that could endanger their personal information and...
As a CPA financial planner and business valuation expert, I see myself and my team in this article, posted by an AICPA guest blogger. Take a read and contact our office if you are one of our valued clients, or would like to be. This...
Business owners who want to sponsor a retirement plan for employees (including owner-employees) have many options from which to choose. Knowing the basics and working with your CPA, can help entrepreneurs make an astute decision. One choice is a “profit-sharing” plan. Despite its name, your company...
At a time when many not-for-profits fear cuts in government grants and donations, expanding the use of volunteers may help them remain successful. Here are ways to maximize volunteers’ effectiveness: Follow policies and procedures used for employees. This includes policies for background checks, onboarding, training, and liability...
Medicare is a complex program with many rules, regulations, and moving parts. If clients fail to enroll at the right time, they can face serious penalties. If they don't buy sufficient insurance to cover the program's many gaps, they may be hit with heavy out-of-pocket...
Many who are involved with fundraising through a volunteer or booster club may be unaware of the related tax implications. These clubs have come under intense scrutiny recently from the Internal Revenue Service and the courts, so it is important to know the rules. Common assumptions about...
Whether you’re part of the “on-demand” workforce or a business that outsources work to this type of contractor, it’s apparent from a recent study that this new “economy” is having a huge effect on a new generation of entrepreneurs. In the updated forecast by Intuit®...