IRS TO TARGET ABUSIVE ERTC CLAIMS
Article Highlights: Television Promotions Payroll Tax Credit Applicable Years Qualifications Business Operations Curtailed Significant Decline in Gross Receipts Potential Abuse Have you seen those ads on television or received email solicitations promoting a large tax credit? The large tax credit they are referring to is the employee retention tax credit (ERTC). The ERTC...
YOUR HELPFUL PERSONAL FINANCE CALCULATORS FOR JUST ABOUT EVERYTHING!
This section includes a library of over one hundred financial calculators. The calculators are easy-to-use and provide in-depth analysis for virtually any financial scenario, along with graphs, charts and tables. The calculators are categorized by subject matter, which can be accessed from the links. Please give...
YOUR 2023 SOCIAL SECURITY COST-OF-LIVING INCREASE HIGHEST IN 40 YEARS
Article Highlights: 2023 Social Security COLA Increase Historical COLA Increases Keeping Inflation At Bay Medicare Premium Decrease Medicare Income Adjusted Tables for 2023 Modified Adjusted Gross Income How Gambling Can Affect Medicare Premiums Social Security Trust Fund The Social Security Administration recently announced that Social Security beneficiaries will get an 8.7% increase to their...
YOUR NOVEMBER 2022 BUSINESS DUE DATES
November 10 - Social Security, Medicare and Withheld Income Tax File Form 941 for the third quarter of 2022. This due date applies only if you deposited the tax for the quarter in full and on time. November 15 - Social Security, Medicare and Withheld Income Tax If...
What Everybody Ought to Know About Cash Management
Cash flow is the lifeblood of every small business but many business owners underestimate just how vital managing cash flow is to their business's success. In fact, a healthy cash flow is more important than your business's ability to deliver its goods and services. While that...
BUNCHING YOUR DEDUCTIONS CAN PROVIDE BIG TAX BENEFITS
Article Highlights: Itemized Versus Standard Deductions Medical Expenses Taxes Charitable Contributions If your tax deductions normally fall short of itemizing your deductions or even if you are able to itemize, but only marginally, you may benefit from using the “bunching” strategy. The tax code allows most taxpayers to utilize the standard...
EVERYTHING YOU NEED TO KNOW ABOUT STARTING A BUSINESS: YOUR STEP-BY-STEP GUIDE
According to one recent study conducted by the Small Business Administration, there are approximately 32.5 million organizations that classify as a small business in operation in the United States. Half of all American workers are either employed by a small business or own a small...
MID-YEAR TAX PLANNING CHECKLIST
MID-YEAR TAX PLANNING CHECKLIST Updated: Jun 26, 2023 Introduction Mid-year is a pivotal time for individuals and businesses to review their tax situation. Effective tax planning can help avoid surprises and capitalize on potential savings. This detailed checklist outlines various factors that can impact your taxes, with...
DO YOU QUALIFY – IRS PROVIDING PENALTY RELIEF TO 1.6 MILLION TAXPAYERS
Article Highlights: Penalty Relief 2019 & 2020 Tax Returns Includes 1040, 1120, Certain 1099 Series Filings Refunds Are Automatic September 30, 2022, Deadline The First-Time Abatement Penalty Relief To help struggling taxpayers affected by the COVID-19 pandemic, the IRS has issued a notice, which provides penalty relief to most people and businesses...
KEEPING UP WITH RECEIVABLES: KNOW WHO OWES YOU
There are so many financial details to keep track of when you’re running a small business. You have to make sure your products and services are in good shape and ready to sell. You have to stay current with your bills. Orders need to be...