Taxes

Article Highlights: Mid-Year Planning Avoiding Unpleasant Surprises Events That Have Tax Consequences Waiting until after the close of the tax year to worry about your taxes can result in missed opportunities that could have reduced your tax liability or provided financial benefits. Mid-year is the

Article Highlights: Background Court Battle Forgiveness Under Income-Driven Repayment (IDR) Plans Debt Relief Income American Rescue Plan Act General Welfare Exception Insolvent Taxpayer Exclusion Employer-Provided Educational Assistance Sec 529 Plans Back in August of 2022, President Biden issued an executive order that would forgive federal

August 2023 Individual Due Dates August 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during July, you are required to report them to your employer on IRS Form 4070 no later

Article Highlights: Distinguishing Employee and Independent Contractor State Legislation Federal Guidelines Partners Advantages of Independent Contractor Status Form SS-8 SE Tax Form 8919 Penalties for Misclassifying Workers IRS’ Voluntary Classification Settlement Program It is not uncommon for employers to misclassify employees as independent contractors, either

If you've been paying attention to the news recently, you're no doubt well aware that artificial intelligence is a topic of much discussion. Thanks largely due to the launch of ChatGPT and the potentially disruptive implications of what this topic can do, it's everywhere. The

Article Highlights: IRA Owners Turning 72 in 2023. Required Minimum Distribution Not Required Until April 1, 2025. 60-Day Rollover Period Rollover Period Extended Until September 30, 2023. On July 14, 2023, the IRS issued Notice 2023-54 announcing that traditional IRA owners who will attain age

Ask any experienced entrepreneur and they will tell you that the difference between running a business and running a successful business is massive. To truly give yourself the best chance of success, and to help achieve your overall goals in the most effective ways possible,

According to one recent study, replacing an employee who has left your business can cost between 50% to 60% of that person's salary. This is why it's virtually always more expensive to hire a new person than it is to simply retain one of your

Parents - especially new ones - are always looking for new ways to improve the lives of their children. Surprisingly, one of the most effective opportunities that people also often overlook has to do with starting a savings account for that child as early as

Due to the admittedly complicated nature of the tax code in the United States, the idea that someone might experience issues when filing is not exactly unheard of. Oftentimes people will calculate certain aspects of their returns wrong, fail to submit the necessary paperwork, or