Today, there are many accounts that companies offer to reimburse employees for medical expenses. Some of these accounts include health Flexible Spending Accounts (FSAs), Health Reimbursement Arrangement (HRAs) and Health Savings Accounts (HSAs). Which health care accounts are the most tax beneficial for your employees? For employees to get the full value out of such […]

Have you wondered if your Social Security benefits are going to be taxed? How much will you have to pay? These are important questions to ask and get answered. It depends on your other income. If you’re taxed, between 50% and 85% of your benefits could be taxed. (This doesn’t mean you pay 85% of […]

Do you have a business? Do you know someone who does? The CARES (Coronavirus Aid, Relief and Economic Security) Act made some changes to excess business losses. What if the losses occurred in the past? Some of these changes apply to previous business losses. There may be a possibility for some businesses to file amended […]

A strong brand is important for your business. And your company will develop a brand one way or another, either through formal brand development or simply through interactions with the public. With today’s competitive atmosphere, it is a good time to examine your brand and determine if you need to make adjustments. Who are you? […]

Hopefully you never find yourself unable to pay your tax bills, but you may still wonder: What if? So what does happen if you or someone you know can’t pay their taxes on time? There are a few options available in this situation. Most importantly, don’t let the inability to pay your tax liability in […]

The stimulus checks came and went, but the COVID-19 pandemic is still here. In an ongoing effort to provide relief for this President Trump signed a Presidential Memorandum on August 8th to defer the employee portion of Social Security taxes. The taxes are not deferred for all employees, and they will have to be paid […]

It can be overwhelming trying to decide what the best accounting software is for your company or when it might be time to switch. When considering what the right software will be for your company’s needs, keep in mind these five common mistakes: 1. Relying on a generic solution. Some companies rush into buying an […]

Parents who normally depend on daycare centers or summer camps for childcare are now hiring personal nannies and babysitters due their normal childcare facilities closures from COVID-19. What some parents may not know is that this may result in federal “nanny tax” obligations. Keep in mind that the nanny tax may apply to all household […]

If you are a small business owner, chances are you are one of many who took advantage of the Paycheck Protection Program (PPP) loan due to the COVID-19 crisis. Although this loan will help many businesses stay open during this time, it is important to be aware of the potential tax implications. PPP basics The […]

With the changing dynamics, businesses are starting to open back up which also means the workforce is starting back up as well. Businesses can look at this critical time as a fresh start. As many of us had to reduce the workforce because of COVID, now is a great opportunity to start with a clean […]