Blog

The tax implications of being a winner

The tax implications of being a winner

August 7, 2019
If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune.
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Why your phone may be a fraud risk

Why your phone may be a fraud risk

August 7, 2019
In only a decade, mobile phones have completely changed our daily lives. Unfortunately, fraud has kept pace with technology. To protect your personal information, you need to be aware of the constantly evolving threats.
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Merger & acquisition transactions: Avoid surprises from the IRS

Merger & acquisition transactions: Avoid surprises from the IRS

July 10, 2019
If you’re considering buying or selling a business — or you’re in the process of a merger or acquisition — it’s important that both parties report the transaction to the IRS in the same way.
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Seniors: Medicare premiums could lower your tax bill

Seniors: Medicare premiums could lower your tax bill

July 10, 2019
Americans who are 65 and older qualify for basic Medicare insurance, and they may need to pay additional premiums to get the level of coverage they desire. The premiums can be expensive, especially if you’re married and both you and your spouse are paying them. But one aspect of paying premiums might be positive: If you qualify, they may help lower your tax bill.
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You may have to pay tax on Social Security benefits

You may have to pay tax on Social Security benefits

July 10, 2019
If you’re getting close to retirement age, you may be wondering if your benefits are going to be taxed. And if so, how much will you have to pay? The answer depends on your other income.
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2019 Q3 tax calendar: Key deadlines for businesses and other employers

2019 Q3 tax calendar: Key deadlines for businesses and other employers

June 24, 2019
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019.
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Is an HSA right for you?

Is an HSA right for you?

June 24, 2019
To help defray health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs). With these accounts, individuals can pay for certain medical expenses on a tax advantaged basis.
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Hiring this summer? You may qualify for a valuable tax credit

Hiring this summer? You may qualify for a valuable tax credit

June 12, 2019
If the employees come from certain “targeted groups,” you may be eligible for the Work Opportunity Tax Credit (WOTC).
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Employers: Be aware (or beware) of a harsh payroll tax penalty

Employers: Be aware (or beware) of a harsh payroll tax penalty

June 5, 2019
If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh penalty can be imposed.
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Fraud du jour: Social Security phone scams

Fraud du jour: Social Security phone scams

June 5, 2019
Despite the National Do Not Call registry and features such as caller ID, phone fraud is thriving in the mobile phone era. Using spoofed numbers — which appear to be connected to legitimate government offices and businesses or that resemble your own number — fraud perpetrators say anything and everything to try to steal your money.
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The chances of IRS audit are down, but you should still be prepared

The chances of IRS audit are down, but you should still be prepared

June 5, 2019
The easiest way to survive an IRS examination is to prepare in advance. On an ongoing basis, you should systematically maintain documentation — invoices, bills, canceled checks, receipts, or other proof — for all items reported on your tax returns.
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Conflicts of interest: When employees aren’t on your side

Conflicts of interest: When employees aren’t on your side

May 29, 2019
The best way to promote your business’s success is by holding all stakeholders to the highest ethical standards.
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