Five reasons to incorporate your business

As your business grows, you may be thinking about incorporating. Learn the reasons why it can be a good idea.

Read More

Service Charges vs. Tips in 2017

Remember, service charges do not receive the same tax treatment as tips. Service charges are non-tip wages, and employers must treat them as such for tax withholding and filing requirements. Tips are payments made to employees by customers at the customer’s discretion. Service charges are extra fees a customer must pay to a business. Examples of service charges are fees imposed by restaurants for parties of six or more, cruise ship package fees, and hotel room service charges.

Single people need financial planning too

Single people have financial considerations that differ from those who are married. But this doesn’t mean they should overlook financial planning. Read more.

Read More

2018 HSA Limits Announced

The IRS recently announced the 2018 inflation-adjusted limits for health savings accounts. For 2018, taxpayers can contribute up to $3,450 (up from $3,400 in 2017) for single coverage, or up to $6,900 (up from $6,750 in 2017) for family coverage.

The maximum out-of-pocket figures are: $6,650 for single coverage (up from $6,550 in 2017) and $13,300 for family coverage (up from $13,100 in 2017).

Check your credit score 2017

Knowing your credit score can help you avoid a surprise when you attempt to apply for a loan or credit card. Read more.

Read More

Two facts about your chances of being audited in 2017

Your chances of being audited are probably lower than you think. A look at the latest IRS statistics for 2016 reveals two interesting and reassuring facts about the risk of an IRS audit.

Read More

Summer 2017 Business Tip – Vacation!

Summer is a good time to do business entertaining. Normally, deductions for business entertainment and meals are limited to 50 percent of the expenses. However, you can write off 100 percent of the cost of a company picnic or other get-together. Note that you can’t restrict the outing to only a select few employees. Keep records of the cost, the date, the attendees, and the business purpose.

Reminder: Second quarter estimated tax payments are due June 15

June 15, 2017, is the due date for making your second installment of 2017 individual estimated tax. Your check to the United States Treasury should be accompanied by Form 1040-ES. June 15 is also the due date for calendar-year corporations to make their second quarter 2017 estimated tax payment.

How to build your business credit in 2017

Sooner or later, your company will need to build business credit. Learn the steps to get started so your company will have the funds it needs. Read more.

Read More

Disability insurance. What you need to know

When people think of insurance, disability insurance isn’t the first type that comes to mind. However, this overlooked coverage can be an important part of your financial plan. Learn more.

Read More