Entries by IslerNW

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Maximize Pay, Minimize Taxes: A Guide to Fringe Benefits for Employers and Employees

Article Highlights: Employment Fringe Benefits Group-Term Life Insurance Employer Retirement Contributions Group Health Insurance Pretax Flexible Spending Arrangements: Qualified Transportation Fringe Benefits De Minimis Fringe Benefits Working-Condition Fringe Benefits Educational Assistance Fringe Dependent Care Assistance Employer Adoption Assistance Accountable Plan Reimbursements Wellness Programs Achievement Awards    Employee Discounts Employer Responsibilities Employers of all sizes can […]

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If You Owe the IRS Money, Here’s What You Should Know About the Statute of Limitations on Collection

Article Highlights: Understanding the 10-Year Clock Situations that Toll the Statute of Limitations Avoiding Unnecessary Extensions Strategies for Navigating the 10-Year Collection Period Important Considerations Should An Individual Attempt To Wait Out the 10-Year Statute? Practical Steps to Limit Harm Final Thoughts The Internal Revenue Code (IRC) Section 6502 provides that the IRS has a […]

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Weddings, Childcare, Children’s Summer Employment, and Travel: Navigating Summer’s Tax Minefield

Weddings, Childcare, Children’s Summer Employment, and Travel: Navigating Summer’s Tax Minefield Article Highlights: Why Summer Matters for Taxes Marriage in Summer Childcare and Summer Camps Summer Jobs for Children Renting Your Home During Summer Travel – Vacation vs. Business, and How to Allocate Records and Documentation Common Mistakes to Avoid Simple Summer Planning to Reduce […]

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Just Starting a New Business? Don’t Overlook Start-Up and Organizational Costs Deductions

Article Highlights: Deductible Expenses: o   Start-Up Expenses o   Organizational Expenses How Much Can Be Deducted Now vs. Over Time Special Purchase Rule How to Claim Recordkeeping — What to Keep Examples Practical Guidelines Starting a new business can be expensive, but the tax rules offer relief: certain start‑up and organizational expenses, like market research, advertising, training, professional […]

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Important July 2026 Tax Due Dates

July 2026 Individual Due Dates July 1 – Time for a Mid-Year Tax Check Up Time to review your 2026 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 10 – Report Tips to Employer If you are an employee who works for tips and received […]