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QUESTIONS ABOUT TAXES AND TIPS? HERE ARE SOME ANSWERS FOR EMPLOYERS
Businesses in certain industries employ service workers who receive tips as a large part of their compensation. These businesses include restaurants, hotels and salons. Compliance with federal and state tax regulations is vital if your business has employees who receive tips. ARE TIPS BECOMING TAX-FREE? During the campaign, President
BUSINESS OWNERS: BE SURE YOU’RE PROPERLY CLASSIFYING CASH FLOWS
Properly prepared financial statements provide a wealth of information about your company. But the operative words there are “properly prepared.” Classifying information accurately isn’t always
BUSINESSES MUST STAY ON GUARD AGAINST INVOICE FRAUD
Fraud is a pernicious problem for companies of all shapes and sizes. One broad type of crime that seems to be thriving as of late
UNDERSTAND THE $7,500 ELECTRIC VEHICLE TAX CREDIT
Electric vehicles (EVs) have become increasingly popular. According to Kelley Blue Book estimates, the electric vehicle share of the vehicle market in the U.S. was
6 TAX-FREE INCOME OPPORTUNITIES
Believe it or not, there are ways to collect tax-free income and gains. Here are some of the best opportunities to put money in your
CRAFT PARTNERSHIP AGREEMENTS AND LLC OPERATING AGREEMENTS WITH PRECISION
Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as a partnership for tax purposes. A major reason
ARE YOU LIABLE FOR TWO ADDITIONAL TAXES ON YOUR INCOME?
Having a high income may mean you owe two extra taxes: the 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on
UNDERSTANDING TAXES ON REAL ESTATE GAINS
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain
WORKING REMOTELY IS CONVENIENT, BUT IT MAY HAVE TAX CONSEQUENCES
Many employees began working remotely during the pandemic and continue doing so today. Remote work has many advantages for employers and employees, and as a
THE TAX IMPLICATIONS OF DISABILITY INCOME BENEFITS
Many Americans receive disability income. Are you one of them, or will you soon be? If so, you may ask: Is the income taxed and