For many business owners, compensation starts as a practical question: what is the right amount to pay myself, and how do I keep the business running efficiently? That is a reasonable place to begin. The mistake is assuming the answer, once set, should stay the same forever. That assumption is especially common for S corporation […]
For many taxpayers, receiving a tax refund is the final step of filing season. Once the IRS accepts the return, most people assume their money will arrive within a few weeks. That assumption may no longer be safe. During the most recent filing season, many taxpayers who were expecting paper refund checks instead received IRS […]
Getting paid starts with sending a professional invoice. QuickBooks Online includes powerful invoicing tools that allow businesses to create, customize, send, and track invoices without leaving the platform. Whether you’re a freelancer, contractor, consultant, or small business owner, here’s how to get the most from QuickBooks Online invoicing. Why Invoicing Matters A well-designed invoice does […]
For many homeowners, the most expensive financial mistake they make may happen before they ever move into the house. It is not necessarily buying the wrong home, choosing the wrong neighborhood, or underestimating maintenance costs. It may be accepting the first mortgage quote they receive. Recent Bankrate research has brought attention to what it calls […]
Article Highlights: What is Domicile? Key Point How Domicile Differs from Other Residency Tests Why Domicile Matters for Taxpayers What Courts and Tax Auditors Look For Special Rules and Common Exceptions Common Audit Issues Practical Tips and Final Thoughts Bottom Line If you’re planning a move—or you already split time between two states—you should understand […]
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 […]
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 […]
August 2026 Individual Due Dates August 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during July, you are required to report them to your employer no later than August 10. You can use IRS Form 4070 or your own statement that […]
The economy is sending mixed signals, and many business owners are feeling that unevenness firsthand. Some companies are growing, hiring, investing in technology, and trying to keep up with demand. Others are seeing slower sales, tighter margins, longer collection cycles, or customers who are more cautious about spending. That split matters because tax planning should […]
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 […]