Whether you have one employee or 1,000, you have to take responsibility for withholding and remitting Social Security taxes. Click through to make sure you know the basics and comply with the rules. The Federal Insurance Contributions Act (FICA) mandates that employers have to withhold, and also match, certain taxes. FICA consists of Social Security […]
Here’s some good news for you from the IRS as you get older: You get extra tax breaks. The Internal Revenue Code and other laws contain special provisions for the elderly. Click through to make sure you don’t leave anything on the table. Getting older has its perks, including tax breaks. Your income threshold for […]
Summary: Purchasing a car is a serious investment, but thoughtful financing can make it less painful. Click through for some advice on how to make the right choices to purchase the car you want. If you’ve ever asked for advice on purchasing a car, you’ve probably heard people talk about haggling with the dealer over the […]
Summary: No financial forecast is perfect, which is why there are so many different methodologies, each with its own strengths and weaknesses. Predicting your business outcomes starts with understanding which forecast is right for you. Click through for an overview of the different kinds of forecasts and how they work. There are many types of financial […]
Summary: There has long been confusion about the distinction between employees and independent contractors, even though it’s essential for businesses to get it right. Click through for some tips from the IRS. Do you have employees or independent contractors? It’s not always an easy question to answer, but the IRS insists you get it right, because […]
Summary: Forensic accountants can value a business as well as calculate losses and potential legal damages. Might they be able to help you? Click through to learn when you need to employ a forensic accountant and how forensic accounting works. If you discover money missing from your business, you need a forensic accountant. Forensic accountants are […]
Summary: What you think you know about taxes and divorce may be wrong. The Tax Cuts and Jobs Act changed the rules and whether you’re paying or receiving, you need to know the details. Click through for guidance on the tax situation surrounding alimony. In divorces, an ex-spouse may be legally obligated to make payments to […]
Summary: If you’re running a business, you don’t only have to worry about your own personal taxes. You have to concern yourself with your company’s taxes as well. Click through for an introduction to business taxes. If you’re running a business, you’re on the hook for a variety of taxes. Let’s take a look […]
Summary: A trustee faces major responsibilities once the grantor dies, and oversees the funds on behalf of the beneficiaries. Click through to learn what those duties are so you can be prepared if you’re ever named trustee. As a trustee, you’ll have to get to work within a month of when the grantor dies. There will […]