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Booth Renter or Employee? How Texas Salon Owners Should Classify Stylists

Texas dropped its booth rental license, but salon owners still have to decide if stylists are booth renters or employees. Here's what each option means for you.

Who Qualifies for “Head of Household” Tax Filing Status?

You must check one of the following filing statuses when you file your tax return: Single, married filing jointly, married filing separately, head of household, or qualifying widow(er).

Tax Advantages of Hiring Your Child at Your Small Business

As a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. Here are some considerations.

How to Ensure Life Insurance Isn’t Part of Your Taxable Estate

If you have a life insurance policy, you may want to ensure the benefits your family will receive after your death won’t be included in your estate. That

Need a New Business Vehicle? Consider a Heavy SUV

Are you considering buying or replacing a vehicle to use in your business? If you choose a heavy sport utility vehicle (SUV), you may be able to benefit

New Law Tax Break May Make Child Care Less Expensive

The new American Rescue Plan Act (ARPA) provides eligible families with an enhanced child and dependent care credit for 2021. This is the credit available for expenses a

Is an S Corporation the Best Choice of Entity for Your Business?

Are you thinking of launching a business with partners and wondering what type of entity would be best to form? An S corporation may be the most suitable

New law: Parents and Other Eligible Americans to Receive Direct Payments

The American Rescue Plan Act, signed into law on March 11, provides a variety of tax and financial relief to help mitigate the effects of the COVID-19 pandemic.

Business Highlights in the New American Rescue Plan Act

President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for providing relief to individuals, it also

The Latest on COVID-Related Deadline Extensions for Health Care Benefits

The U.S. Department of Labor (DOL) recently issued EBSA Disaster Relief Notice 2021-01, which is of interest to employers. It clarifies the duration of certain COVID-19-related deadline extensions

Estimated Tax Payments: The Deadline for the First 2021 Installment is Coming Soon

April 15 isn’t just the deadline for filing your 2020 tax return. It’s also the deadline for the first quarterly estimated tax payment for 2021, if you’re required

Launching a Small Business? Here Are Some Tax Considerations

Despite many businesses being forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many start out operating as sole proprietors. Here are

Retiring Soon? Recent Law Changes May Have an Impact on Your Retirement Savings

If you’re approaching retirement, you probably want to ensure money you’ve saved in retirement plans lasts as long as possible. If so, be aware that a law was