Tax Benefits When Saving for College Education

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Article Highlights: Planning for a Child’s Post-Secondary Education Tax-Favored Plans Tax-Free Earnings Coverdell Accounts Qualified Tuition Plans Have Others Contribute Gift Tax Issues Tuition Gifts A common question…

Record Expenses in QuickBooks Online and On Your Phone 

The money you spend to run your business must be recorded conscientiously for your taxes and reports. Here’s how to do it. You undoubtedly keep a very close watch on the money coming into your business. You record payments as soon as they…

Distributed Workforce Businesses Are Facing Challenges as They Adapt to Remote Employees

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Distributed Workforce Businesses Are Facing Challenges as They Adapt to Remote Employees  According to one recent study, nearly half of all employees switched to working remotely in 2020 during the onset of the COVID-19 pandemic. Almost overnight,…

Understanding Tax Lingo

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Article Highlights  Filing status. Adjusted gross income (AGI). Taxable income. Marginal tax rate. Alternative minimum tax (AMT). Tax Credits. Underpayment of estimated tax penalty. When discussing taxes, reading tax…

November 2021 Individual Due Dates

November 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during October, you are required to report them to your employer on IRS Form 4070 no later than November 10. Your employer…

Tips to Get Your Startup Off the Ground

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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…

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

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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…

Education Credits are for Children? Think Again!

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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…

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

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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…

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 …