Taxes: These Basics are for Everyone

Understanding how our tax system works can be tricky for anyone. Whether you’re an adult who never paid much attention to the taxes being withheld from your paycheck or a kid who just got his or her first job, understanding the basics can help refine and define questions you may have. Many schools don’t teach […]

How to Protect Your Kids Online

Do you know what your kids are doing online? That question may seem like it has a simple yes or no answer, but that’s hardly the case. With so many streaming platforms, social media outlets and new gaming options popping up every day, it’s nearly impossible to fully protect your kids from what they can […]

Helping Your Fellow Business Owner

Your firm survived 2020. Now you may be asking yourself when will the economy return to pre-pandemic levels? Will it be this fall? A year from now? Longer? Until the economy fully emerges from the pandemic, small businesses can help one another stay afloat. By collaborating with other like-minded firms, your business can find creative […]

The Art of Bill Paying

Paying bills is an inevitable part of everyday life, but that doesn’t mean it has to be stressful. Here are some ways to get control of your budget and perfect the art of stress-free bill paying. Make a budget. Knowing what you are making and what you are spending is essential to proper bill paying. […]

Businesses Get More Time to Apply For PPP Loans

Legislation provides other business relief provisions Here’s what you need to know about the Paycheck Protection Program (PPP) loans and other business relief provisions of the recently-passed American Rescue Plan Act. PPP loan application deadline extended. The deadline to apply for PPP loans is now May 31, 2021. Sick leave extended. If your business provides sick leave […]

New Tax Breaks Benefit Millions

What you need to know The recently-passed American Rescue Plan Act contains several tax breaks for you and your family. Here are the major provisions of the bill that could mean more money in your pocket during the 2021 tax year. Child tax credit (CTC) The CTC for 2021 increases from $2,000 to $3,000 for […]

ALERT! Late Tax Legislation Creating Havoc

Individual tax return deadline moved to May 17 Congress’ recent move to retroactively make a portion of 2020 unemployment income tax-free is creating havoc during this year’s tax filing season. Here is what you need to know. Background Unemployment compensation was received by millions of Americans during 2020 because of the pandemic. While unemployment income […]

Get Your Contractor or Employee Classification Right!

Tax challenges can be VERY expensive As a small business owner, you may face the issue of whether to classify workers as employees or as independent contractors. Classifying your workers as independent contractors generally saves you money. That’s because you avoid paying employment taxes and benefits on their behalf. If the IRS determines that you […]

The New World of Bank Reconciliations

Here’s a look at the new world of bank reconciliations and some ideas to use to ensure your bank account is accurate. The bank reconciliation purpose In a nutshell, a bank reconciliation ensures your account is accurate. This is done by comparing all your activity with what the bank is reporting. The importance of timely […]

Answers to Common Tax Questions

With the April 15 tax filing deadline right around the corner, here are answers to some common tax questions. When will I get my refund? The pandemic and additional stimulus payments will, in all probability, delay refund payments. But as of now here are the old wait times to receive your refund. * E-file return with […]