by Sarah Boehle Pool | Jul 29, 2020 | Latest News
Conduct a “paycheck checkup” to make sure your withholding is adequate Did you recently file your federal tax return and were surprised to find you owed money? You might want to change your withholding so that this doesn’t happen next year. You might even want to do...
by Sarah Boehle Pool | Jul 27, 2020 | Latest News
Businesses: Get ready for the new Form 1099-NEC There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee Compensation, to report any payment of $600 or...
by Sarah Boehle Pool | Jul 23, 2020 | Latest News
6 key IT questions to ask in the new normal The sudden shutdown of the economy in March because of the COVID-19 pandemic forced many businesses to rely more heavily on technology. Some companies fared better than others. Many businesses that had been taking an...
by Sarah Boehle Pool | Jul 22, 2020 | Latest News
After you file your tax return: 3 issues to consider The tax filing deadline for 2019 tax returns was extended until July 15 this year, due to the COVID-19 pandemic. After your 2019 tax return has been successfully filed with the IRS, there may still be some issues to...
by Sarah Boehle Pool | Jul 20, 2020 | Latest News
Steer clear of the Trust Fund Recovery Penalty If you own or manage a business with employees, you may be at risk for a severe tax penalty. It’s called the “Trust Fund Recovery Penalty” because it applies to the Social Security and income taxes required to be withheld...
by Sarah Boehle Pool | Jul 7, 2020 | Latest News
Launching a business? How to treat start-up expenses on your tax return While the COVID-19 crisis has devastated many existing businesses, the pandemic has also created opportunities for entrepreneurs to launch new businesses. For example, some businesses are being...
