Tax Benefits for Holiday Gifts

Article Highlights:   Electric Car Credit Solar Electric Credit College Student Supplies Work Equipment Charitable Gifts Employee Gifts Some holiday gifts you provide to members of your family, employees and others may…

December 2021 Tax Due Dates

December 2021 Individual Due Dates December 1 - Time for Year-End Tax Planning December is the month to take final actions that can affect your tax result for 2021. Taxpayers with substantial increases or decreases in income, changes in marital…

10 Tax-Saving Strategies to Consider Before Year-End

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Article Highlights:  Taking Stock of Tax Strategies Education Tax Credits Converting a Traditional IRA to a Roth IRA Minimum Required Distributions Charitable Contributions Qualified Charitable Distributions Health Savings…

Tax Penalties to Watch Out For

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Article Highlights: Underpayment of Estimated Tax and Withholding Penalty Required Minimum Distribution Penalty Late-Filing Penalty Late-Payment Penalty Negligence Penalty Fraud Penalty Dishonored Check Penalty Missing…

Avoiding IRS Underpayment Penalties

Article Highlights: Pay-as-You-Earn System Safe Harbor Payments Situations Triggering Underpayments True Safe Harbors Congress considers our tax system a “pay-as-you-earn” system. To facilitate that concept, the government…

Intimidated by Accounting? Five Simple Steps Are All You Need

When you decided to start your own company, you likely focused on the products or services you were selling, along with your amazing customer service and marketing skills. While running your own small business offers plenty of upsides, it also…

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…