For the second year in a row, the IRS has extended the filing date for federal taxes due to the COVID-19 pandemic. This year, the deadline for filing 2020 individual tax returns is Monday, May 17, 2021. If you still aren’t ready to file your return, you should request a tax-filing extension. Anyone can request […]

An employee can receive, on a tax-free basis, up to $5,250 each year from his or her employer for educational assistance under a “qualified educational assistance program.”   For this purpose, “education” means any form of instruction or training that improves or develops an individual’s capabilities. It doesn’t matter if it’s job-related or part of […]

In order to reduce absenteeism and control benefit cost many businesses have established or are considering employee wellness programs.  Yet there’s a wide variety of ways to design and operate a wellness program. How can you ensure yours fulfills objectives such as reducing absenteeism and controlling benefits costs? Build it on a solid foundation. Employee […]

Here is why you don’t want to miss it. To avoid paying penalties and interest you must pay your taxes by May 17, 2020. It’s important to file and pay your tax return on time to avoid penalties imposed by the IRS. Here are the basic rules. Failure to pay Separate penalties apply for failing […]

Alternative energy technologies can help reduce energy cost for your business and you could be eligible for a significant federal income tax benefit. The business energy credit is a federal income tax benefit for business that implement alternative energy equipment or products over the next few years. The credit is intended primarily for business users […]

With the COVID-19 pandemic forcing many employees to work remotely, engaging in competitive intelligence has never been easier. The internet and social media have created a great way to determine what your competitors are up to when trying to make their businesses better. All that needs to be done are your part is some research […]

You may benefit from some recent tax changes. Due to the current situation of the pandemic, many tax changes were made that might impact your individual tax bill. Here are two changes that may result in tax savings for you on your 2020 or 2021 tax returns. These changes were made in order to mitigate […]

Most business owners are aware that there is a tax advantage to taking money out of a C Corporation as compensation rather than as dividends. However, there are limits to how much money you can take out of the corporation this way. The advantage of taking money out of a C Corporation as compensation rather […]

On Thursday, March 11th, President Biden signed the newest in a series of approximately $5 trillion in COVID-19 stimulus packages into law, authorizing an additional $1.9 trillion in aid to boost the U.S. economy. The amount of funds that have been given as stimulus during this time is unprecedented and leaves businesses more vulnerable than […]

The American Rescue Plan Act (ARPA), signed into law in March 2021, made several significant enhancements to the Premium Tax Credit. However, these changes could increase the risk of some businesses incurring an Affordable Care Act penalty. Individuals and families pay for insurance through a Health Insurance Marketplace ( also known as an “Exchange”) and […]