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Job Costing for Plumbers
S-corp election for HVAC business owners: file Form 2553 in September for a January 1 start, set payroll and salary in the slow season, and skip the March scramble.
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.

chances-of-IRS-audit

The Chances of IRS Audit Are Down but You Should Still Be Prepared

The IRS recently released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined compared with prior years. However, even though a smaller

Tax-Smart Domestic Travel: Combining Business With Pleasure

Summer is just almost here, so you may be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to

check-your-withholding

It’s a Good Time to Check Your Withholding and Make Changes, if Necessary

Due to the massive changes in the Tax Cuts and Jobs Act (TCJA), there were a lot of surprises during the 2019 filing season. Some filers who were

Hire-your-children-this-summer

Hire Your Children This Summer: Everyone Wins

If you’re a business owner with children (or grandchildren) and you hire them this summer, you can obtain tax breaks and other nontax benefits. The kids can gain

tax-implications-of-selling-your-home

Selling Your Home? Consider These Tax Implications

Spring and summer are the optimum seasons for buying and selling a home. Interest rates are currently attractive, so buyers may be out in full force in your

Consider-a-Roth-401k-plan

Consider a Roth 401(k) Plan and Make Sure Employees Use It

Roth 401(k) accounts have been around for 13 years. A recent study by the Plan Sponsor Council of America (PSCA) found that Roth 401(k)s are now available at

deductible-business-expenses

What Type of Expenses Can’t Be Written Off by Your Business?

If you read the Internal Revenue Code (and you probably don’t want to!), you might be surprised to find most business deductions aren’t specifically listed. It doesn’t explicitly

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