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No Health Insurance Still Means Big Penalties

No Health Insurance Still Means Big Penalties

If you think President Trump’s recent executive order means that the fees for not having health insurance are no longer in effect, you could be sorely mistaken. To avoid potentially thousands of dollars in “shared responsibility” tax penalties, you still need to be covered by a basic level of health insurance. Current Situation: During his […]

February 22, 2017 | By More
Reasons to File Early…When Filing a Tax Return Early May Make Sense

Reasons to File Early…When Filing a Tax Return Early May Make Sense

The 2017 tax filing season has officially begun and the IRS has started accepting tax returns. There are many reasons to consider filing your tax return early. Here are some of the most common: Get your refund There’s no reason to let the government hold your funds interest-free, so file early and get your refund […]

February 12, 2017 | By More
Newest QuickBooks Email Scam

Newest QuickBooks Email Scam

New email scam targets small business QuickBooks users QuickBooks users should be on alert for an email containing “QuickBooks Support: Change Request” in the subject line. This is the newest phishing scam circulating. The scammers send an email with the subject line “QuickBooks Support: Change Request.” The message is to “confirm” the change of your […]

January 26, 2017 | By More
New Rules for 1099s

New Rules for 1099s

If you own your own business or have a side business in addition to your regular job, you may need to send out several IRS forms by Jan. 31 this year. The deadline is for forms you issue to employees and others who were paid as part of your business activities throughout the year. These […]

January 26, 2017 | By More
Need a Passport? Make Sure You Pay the Tax Man First!

Need a Passport? Make Sure You Pay the Tax Man First!

We all have heard about the legends of people in times gone by who left for another country when faced with criminal charges here. However, this is no longer a possibility for American tax payers. The IRS reserves the right to revoke your passport for noncompliance with tax laws. This could have huge ramifications for […]

January 9, 2017 | By More
Why Estate Taxes Get Complicated

Why Estate Taxes Get Complicated

Prince Died Without a Will – Why Estate Taxes Get Complicated What happens to the estate when someone dies without a will? Usually when a famous person dies, news of their death travels fast, far and wide. Living relatives and those claiming to be relatives will come forward staking their claim on estate assets. If […]

November 3, 2016 | By More
Cybersecurity Mistakes you Cannot Afford to Make

Cybersecurity Mistakes you Cannot Afford to Make

Companies can’t afford to be asleep at the wheel when it comes to protecting personal and corporate data. Below are the five common mistakes you can’t afford to make when it comes to protecting assets from cyber-attacks. Mistake #1: Assuming you’re not a target Whether large or small, organizations in every industry are vulnerable to […]

November 3, 2016 | By More
Budget Your Business for 2017

Budget Your Business for 2017

Budget Projections Offer a Road Map to Success I know that many businesses do not prepare projections, and among the ones that do, many do not use them to monitor results. Many believe that one of the most important steps in achieving personal goals is to write them down. Preparing and monitoring a budget for […]

November 3, 2016 | By More
Tax Planning Strategies – Minimizing 2016 Individual Income Taxes

Tax Planning Strategies – Minimizing 2016 Individual Income Taxes

It is never too early to get a jump start on tax planning. Why not start now and minimize your end of the year holiday stress? These tax planning strategies could help your reduce 2016 taxes Make Charitable Contributions Making charitable contributions is a great way to reduce your taxable income. The most common type […]

November 3, 2016 | By More
7 Reasons for Small Business Owners to Outsource their Bookkeeping

7 Reasons for Small Business Owners to Outsource their Bookkeeping

Do bookkeeping chores take too much time away from your core business? Is employing a bookkeeper cost-prohibitive? If so, outsourced bookkeeping may be the perfect solution. It will help you: 1 – Reduce overhead costs Employing a bookkeeper in-house is expensive. The cost includes not just salary and benefits, but other expenses like payroll taxes […]

September 11, 2016 | By More