Our Blog
Employee or Independent Contractor? IRS Misclassification Can Be Costly.
Because the Internal Revenue Service (IRS) wants its money from payroll deposits as quickly as possible, it doesn't take kindly to business owners who misclassify employees as independent contractors. That is because employees pay taxes out of every paycheck through...
Prepared for the Unexpected? Three Plans Your Small Business Should Have in Place.
Nothing in life is certain or stagnant. This applies to operating a small business just as much as anything else. The sudden and unexpected death of a business partner, a natural disaster that destroys all business equipment, and cyberattacks that threaten company...
Get a Grip on Tax Deadlines to Keep Your Tax Payments on Track
For small business owners, tax time comes more than once a year on April 15. Depending on the structure and revenue of the business, it may have to pay taxes in up to five different categories. The Internal Revenue Service (IRS) expects business owners to keep track...
On your mark, get set…GO prepare for tax season
The combination of running a business and your life and preparing for tax time can drive some people into a slight panic. But no need to get stressed if you are prepared. Now is the time to start organizing all documents required to file your tax return.Also, consider...
5 tips to mitigate paying taxes on Social Security benefits
Like the old paraphrased saying goes: In this world, two things are certain—death and taxes. The recent federal tax overhaul changed a lot of rules, so it’s as important as ever to understand your tax obligations, including those on Social Security benefits. According...
New IRS warning: Email scams will surge this holiday season
Unfortunately, cyber scammers never take a vacation. In fact, the IRS has issued a warning of a surge in fraudulent emails that bait potential phishing victims with fake tax transcripts. Links within these emails lead recipients to documents containing the well-known...
Minimize the hustle and bustle and stay on budget this holiday season
The holidays can be overwhelming. You only have so many hours in a day, your gift list is long, and your budget may be tight. A bit of up-front planning and prioritizing can help save you time and money. Here are a few ideas to help you minimize the hustle and bustle,...
Spreading the feeling of gratitude
Instilling a thankful frame of mind among your staff makes for a gratifying work place. Consider a few suggestions for developing an atmosphere of thankfulness to get into the spirit of the holiday season. Focus on gratitude. Start meetings with a thoughtful exercise....
Ramp up awareness to ‘shop small’ on Small Business Saturday this month
Black Friday and Cyber Monday need no introduction, but for small business owners it’s all about Small Business Saturday—an annual holiday shopping tradition that gets communities out in support of their local small businesses. Small Business Saturday falls on...
Important Update: 1099 Reporting for 2018
The Protecting Americans from Tax Hikes (PATH) Act of 2015 requires Forms 1099-MISC reporting non-employee compensation (NEC) in box 7 to be filed by January 31. All filing deadlines are as follows: Reporting NEC, whether filed on paper or electronically: January 31...
