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pay yourself as an s-corporation
Understand the right amount to pay yourself as an S Corporation and avoid unnecessary hassle of payroll taxes.
tax break for volunteering

Volunteering for Charity: Do You Get a Tax Break?

If you volunteer your time to work for charity, you may be entitled to some tax breaks if you itemize deductions on your tax return. Unfortunately, they may

M-and-A-transactions

M&A Transactions: Avoid Surprises From the IRS

If you’re thinking of buying or selling a business, or you’re in the process of a merger or acquisition, it’s important both parties report the transaction to the

tax-on-Social-Security-benefits

You May Have to Pay Tax on Social Security Benefits

During your working days, you pay Social Security tax as part of the withholdings from your salary or self-employment tax. You may be surprised to learn that when

taxes-on-bartering

Bartering: A Taxable Transaction Even if Your Business Exchanges No Cash

Bartering for goods and services instead of paying cash may be beneficial to some small businesses. If your business engages in bartering, be aware that the fair market

day-camp-tax-break

If Your Kids Are Off to Day Camp, You May Be Eligible for a Tax Break

Now that most schools are out for the summer, you might be sending your children to day camp. This is often a significant expense, but the good news

choosing-right-business-entity

Which Entity Is Most Suitable for Your New or Existing Business?

The Tax Cuts and Jobs Act (TCJA) changed the landscape for business taxpayers because the law introduced a flat 21% federal income tax rate for C corporations. Under

2019-Q3-tax-calendar

2019 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. Please, keep in mind that this list isn’t all-inclusive,

Is-an-HSA-right-for-you

Is An HSA Right For You?

Many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs) to help defray health care costs. With these accounts, individuals have the ability

Donating-your-vehicle-to-charity

Donating Your Vehicle to Charity May Not Be a Taxwise Decision

You’ve most likely seen or heard ads urging you to donate your car to charity. One organization states you can “Make a difference and receive tax savings.” But

tax credit for hiring targeted groups

Hiring This Summer? You May Qualify for a Valuable Tax Credit

Is your business planning to hire this summer? If the employees come from certain “targeted groups,” you may be eligible for the Work Opportunity Tax Credit (WOTC). This

moving-to-another-state-in-retirement

Thinking About Moving to Another State in Retirement? Don’t Forget About Taxes

You may consider moving to another state when you retire for the weather or to be closer to your loved ones. Don’t forget to factor state and local

harsh-payroll-tax-penalty

Employers: Be Aware (or Beware) of a Harsh Payroll Tax Penalty

A harsh penalty can be imposed if federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS.

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