Companies often don’t want the risk and overhead of maintaining payroll and HR staff, but are nervous about how to stay compliant. Payroll management is a critical function for businesses of all shapes, sizes, and industries, and it is essential to ensure employees are paid both correctly and on time. Managing payroll doesn’t have to...
Spring has sprung and brought with it anniversaries, graduations, weddings, spring birthdays and seasonal holidays, all of which require a gift of sorts, and often times these gifts are monetary. When you make a substantial gift to anyone of cash or property, the IRS takes notice. But the good news is, gifts are excluded from...
If you have had any medical expenses this year, there may be some relief for you! A deduction exists for medical expenses, and it is often one that taxpayers forget about. Although you will need to itemize on Schedule A to take advantage of this deduction, medical expenses exceeding 7.5% of your AGI (adjusted gross...
If you are a partner or shareholder of a firm, you may know that you have to fill out a tax document to report your income, losses, capital gains, dividends, and more for the tax year. This document is the Schedule K-1, and it allows a partner’s earnings to be taxed at an individual rate...
Self-employed folks have expenses they incur yearly in order to do business, so it is important for them to review what can be deducted each year to make their business as profitable as possible. Expenses like a home office, car, health insurance, and even startup costs can get you a big tax break. Did you...
