Blog
It’s Not Too Early to Start Planning for Next Year’s Taxes
We just finished this year’s tax season, and nobody wants to think about taxes right now. But now is an ideal time to start planning for next year, because a little tax planning can deliver serious benefits later in the year. The IRS offers a few tips on planning:...
How the ACA Affects Employers With Fewer Than 50 Full-time Employees
Most of the ACA’s requirements only affect employers with over 50 full-time employees. But the IRS recently reminded employers that if you have close to 50 full-time (or equivalent) employees, or if your workforce size fluctuates during the year, you should take care...
What You Need to Know About the Home Office Deduction
The home office deduction is one you don’t want to pass up if you’re eligible. The IRS recently offered taxpayers some tips on taking advantage of the deduction. Here’s what you need to know. Eligibility First, in order to be eligible, you must regularly use part of...
When You’re Ready for Help With Bookkeeping: Part 3 — 5 Ways Hiring an Outsourced Bookkeeping Team Benefits Your Business
So far in this series of posts, we’ve examined what to look for when you’re ready to hire a bookkeeper and how to prevent fraud and mismanagement issues. In this post, we’re going to see why you might want to consider outsourcing your bookkeeping to a specialized...
When You’re Ready for Help With Bookkeeping: Part 2 — How to Prevent Fraud and Other Financial Mismanagement
Bookkeeping is such an essential function because so much depends upon the the financial information that bookkeeping provides. Without this information, business owners can’t make informed decisions. And most often, it doesn’t make sense for business owners to handle...
When You’re Ready for Help With Bookkeeping: Part 1 — What to Look for When Hiring a Bookkeeper
Bookkeeping is something every business needs. Owners may try to handle their own bookkeeping initially, but eventually the business grows, becomes more complex, and the owner no longer has the time or desire to manage the books every day. Although you should always...
Training is a Desirable Perk that Can Help You Attract Top Talent
Training is an important part of talent retention. Good employees want to grow professionally, and training is a valuable perk that benefits not only your employees, but your company also. I recently came across this infographic outlining new research on how people...
What You Need to Know About Startup Expenses from a Tax Standpoint
Startup costs are a special breed of expenses. The definition differs depending on if you’re talking financial accounting or taxes. Market research, legal fees to set up partnership or corporation entities, purchasing operating systems, and other expenses like these...
IRS Announces Scammers Now Have New Tactics
Phone scams are nothing new, but the IRS says that scammers are trying a new tactic: impersonating an IRS employee calling to verify tax return information over the phone. Criminals will call taxpayers claiming they’re from the IRS and saying that they have your tax...
When You Have Multiple Financial Goals, When Should You Fund Your IRA?
You probably have a few financial goals: pay off debt, fund your HSA, buy a new home, and . . . save for retirement. You know saving for retirement is important, but how important is it, relative to your other goals? How much should you put in while you’re working...
What You Need to Know About the Additional Medicare Tax
If your income is above a certain threshold, you’ll need to pay the Additional Medicare Tax of 0.9% on income above the threshold amount. The IRS recently reminded taxpayers of what they need to know about this tax. Which income is subject to the tax? The tax applies...
Save Cash and Reduce Your Tax Bill with Home Energy Credits
If you’re thinking about getting more energy-efficient with your home to cut your energy costs long-term, there’s another reason you might want to go ahead and move forward: tax savings. The IRS reminds taxpayers that there are two credits you can take advantage of....