
Business Growth: How to Plan for (and Make the Most of) This Critical Stage
Business, Business Development, Growth, UncategorizedWhile it's true that every business is different from the next - and every entrepreneur will go on his or her own unique journey - there are still a few constants that we know to be true.
The start-up phase, for example, is when you write…

Multiple Tax Needs Filled By Health Savings Accounts
Health Savings Accounts, Tax Tips, UncategorizedArticle Highlights:
Medical Savings Account
Retirement Account
High-Deductible Plan
Eligible Individuals
Monetary Qualification for an HSA
Qualification Chart
Maximum Contributions
Establishing an HSA
The Health…

March 2022 Tax Due Dates & Reminders
2022 Taxes, Due Dates, Taxes, UncategorizedMarch 2022 Individual Due Dates
March 10 - Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than…

February 2022 Individual and Business Due Dates
UncategorizedFebruary 2022 Individual Due Dates
February 4 - Tax Appointment
If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you.
February 10 - Report Tips to Employer
If…

How Can a Nonworking Spouse Qualify to Fund an IRA?
UncategorizedArticle Highlights:
Spousal IRA
Compensation Requirements
Maximum Contribution
Traditional or Roth IRA?
One of the fallouts of the COVID-19 pandemic is that millions of people have dropped out of the workforce, particularly…

2022 Standard Mileage Rates Announced
Tax Tips, UncategorizedHighlights:
Standard Mileage Rates for 2022
Business, Charitable, Medical and Moving Rates
Important Considerations for 2022
Switching Between the Actual Expense and Standard Mileage Rate Methods
Employer Reimbursements
Employee…

Understanding Tax Lingo
Taxes, UncategorizedArticle 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…

Exit Strategy: How to Create One for Your Small Business
Small Business, Startup, UncategorizedOwning your own small business is a dream that few are fortunate enough to realize, but even those new to the joys of entrepreneurial self-determination need to spend time thinking about how you’re going to eventually leave the business. No…

How Biden’s Rescue Plan Might Impact Your Taxes
COVID-19, Stimulus Payments, UncategorizedHow Biden’s Rescue Plan Might Impact Your Taxes
Article Highlights:
Economic Impact Payments
Unemployment Compensation
Minimum Wage
Education Assistance
Families First Coronavirus Response Act
Child Care Tax…

What President Trump’s Executive Order Means for You
2020 Stimulus Package, 2020 Tax Laws, COVID-19, Tax Credits, Tax Planning, Tax Tips, UncategorizedWe are still waiting for the dust to settle on what President Trump’s executive orders mean for taxpayers and business owners. There is a lot of talk about legal challenges and how Congress may react. But here is a summary of what we know…