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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
DO YOU OWE ESTIMATED TAXES? IF SO, WHEN IS THE NEXT ONE DUE?
Federal estimated tax payments are designed to ensure that certain individuals pay their fair share of taxes throughout the year. If you don’t have enough
HOW ARE SERIES EE SAVINGS BONDS TAXED?
Savings bonds are purchased by many Americans, often as a way to help fund college or show their patriotism. Series EE bonds, which replaced Series
SIX TAX ISSUES TO CONSIDER IF YOU’RE GETTING DIVORCED
Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to
BE AWARE OF THE TAX CONSEQUENCES OF SELLING BUSINESS PROPERTY
If you’re selling property used in your trade or business, you should understand the tax implications. There are many complex rules that can potentially apply.
PLANNING YOUR ESTATE? DON’T OVERLOOK INCOME TAXES
The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about federal
WHAT MIGHT BE AHEAD AS MANY TAX PROVISIONS ARE SCHEDULED TO EXPIRE?
The Tax Cuts and Jobs Act (TCJA), which generally took effect in 2018, made sweeping changes. Many of its provisions are set to expire on
CERTAIN CHARITABLE DONATIONS ALLOW YOU TO AVOID TAXABLE IRA WITHDRAWALS
If you’re a philanthropic individual who is also obligated to take required minimum distributions (RMDs) from a traditional IRA, you may want to consider a
INFLATION ENHANCES THE 2025 AMOUNTS FOR HEALTH SAVINGS ACCOUNTS
The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSA). These amounts are adjusted each year, based on inflation. The
SOCIAL SECURITY TAX UPDATE: HOW HIGH CAN IT GO?
Employees, self-employed individuals and employers all pay Social Security tax, and the amounts can get bigger every year. And yet, many people don’t fully understand