There is an overlooked element included in the Consolidated Appropriations Act (CAA) that can help organizations receive potentially large tax credits on quarterly payroll tax returns: The Employee Retention Credit (ERC). At a time where few employers can afford to leave money on the table, understanding what ERC is and the basics of qualify for […]

We all know the saying about assumptions and what it makes us out to be. This phrase is an important reminder in the business world as well. A dangerous assumption that many business owners make is that, if their companies are profitable, their cash flow must also be strong. But this isn’t always the case. […]

Saving up for a college-bound child’s future can be daunting with unknown factors from where they will go to how much it will cost. There are some options that you may want to take advantage of tax benefits to minimize your expenses in the long run.   Savings bonds Series EE U.S. savings bonds offer […]

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Read below about the major tax deadlines coming up this quarter that may affect your business. Please note […]

Now that the public and businesses are opening back up, it is safe to say that people are looking forward to resuming in-person activities and events. Business owners may start to ask themselves: is this the year that we finally have a firm retreat? Although there are still health risks to consider, your employees may […]

Something that many people look forward to is retirement. There are various things that one needs to consider and plan for when moving into this phase of life, some of which could have tax implications. Here is a brief rundown of four tax and financial issues that you may find yourself dealing with when you […]

A good system for keeping business records is crucial, especially If you are claiming deductions for business meals or auto expenses.  The IRS likes to keep a close eye on these types of expenses. Tax auditors are adept at rooting out inconsistencies, omissions, and errors in taxpayers’ records, as illustrated by one recent U.S. Tax […]

Positioning your business to succeed must involve a plan on who steps up when their name is called, we want to make sure the next person is engaged and ready. It may seem unnecessary for those that are relatively young and have no intention of surrendering control. However, if the past year or so have […]

The Net Investment Income Tax [NIIT] is a 3.8% tax that is imposed on high-income taxpayers in addition to their regular income tax. We know what you are thinking, “How can I get in on that action?” Well, unfortunately for you, we only have advice for those of you who are trying to avoid it. […]

Are you hiring your son or daughter for the summer? Let’s make sure we get the maximum benefit for them and yourself while they gain on-the-job experience, get to spend more time with you and less time on their phones! You may be able to: • Shift your high-taxed income into tax-free or low-taxed income, […]