Entries by IslerNW


Tips to Get Your Startup Off the Ground

Tips to Get Your Startup Off the Ground One of the most important things to understand about being a startup entrepreneur is that there is no “one size fits all” approach to what you’re doing. Everyone’s path is different, and you need to find out your own if you want to have any reasonable chance […]


Employers Hiring New Employees May Be Able to Claim a Work Opportunity Tax Credit

Article Highlights:  Potential Credit Eligible Employees Credit Determination Certification Process Other Issues The Covid-19 pandemic has had a significant impact on the labor market – mandated government lockdowns and workers’ and customers’ fears of contracting the illness resulted in businesses closing or temporarily cutting back and laying off or furloughing millions of employees. In April […]


Education Credits are for Children? Think Again!

Article Highlights: Who Qualifies for Education Credits American Opportunity Credit Lifetime Learning Credit Qualifications Who Gets the Credit 1098-T Qualified Expenses If you think that education credits are just for sending your children to college, think again—the credits are available to you, your spouse (if you are married), and your dependents. Even if you or […]


The Ins and Outs of Bookkeeping: All the Best Practices to Get the Best Financial Outcome From Your Organization 

If you had to make a list of some of the most critical elements of running a business that most new entrepreneurs don’t think enough about until it’s far too late, bookkeeping would undoubtedly be right at the top. On a surface level, bookkeeping is simply the process of keeping accurate, thorough records of the […]

Fall Tax Planning May Be Wise

 Article Highlights: Maximize Education Tax Credits Employer Health Flexible Spending Accounts Maximize Health Savings Account Contributions Convert Traditional IRAs to Roth IRAs Don’t Forget Your 2021 Minimum Required Distributions Bunching Deductions Take Advantage of the Zero Capital Gains Rate Defer Deductions Increase IRA Distributions Defer Capital Gains by Investing in an Opportunity Zone Fund Sell […]

The IRS Backlog Is Causing Taxpayer Heartburn

Article Highlights: COVID-19 and Tax-Return Processing Delays Congress Helped to Create the Backlog Taxpayer Advocate’s Assessment Backlog Before the COVID-19 pandemic, the IRS was getting refunds out swiftly and responded to calls and correspondence in a reasonable amount of time. However, COVID-19 brought about a perfect storm of delays, initially caused by employees having to […]


Filing as Married Separate? Better Read This.

Article Highlights: Filing Requirements Changing Filing Status Social Security Benefits Traditional IRA Deductibility Roth IRA Contribution Restrictions Higher Education Interest Deduction Itemized Deductions Medicare Premiums Child & Dependent Care Credit Earned Income Tax Credit (EITC) Premium Tax Credit (PTC) Tax Rates Other Limitations Married taxpayers have two options when filing their 1040 or 1040-SR tax […]

October 2021 Due Dates

October 2021 Individual Due Dates October 12 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during September, you are required to report them to your employer on IRS Form 4070 no later than October 12. Your employer is required to withhold FICA […]


Post-Pandemic Savings Burning a Hole in Your Pocket?

Not to overstate the obvious, but the last 18 months have seen major modifications in the ways that most Americans spent their money. Without the ability to visit department stores, malls, and big-box stores, retail therapy was significantly curtailed. Spending on travel, entertainment, restaurants, and bars all plummeted, and even with consumers splurging on grocery […]