Changes to Social Security Benefits and Taxes
The Social Security Administration recently announced some changes to benefits and taxes for 2022. First, the wage base for computing Social Security tax will increase from $142,800 to $147,000. Also,…
The Social Security Administration recently announced some changes to benefits and taxes for 2022. First, the wage base for computing Social Security tax will increase from $142,800 to $147,000. Also,…
If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, spend time with…
The Treasury Department and Internal Revenue Service announced yesterday that the April 15 deadline to file 2020 federal income taxes for individuals has been automatically extended to May 17, 2021.…
Tax season is well underway. The pandemic has led to several changes to the tax rules for last year. Here's a summary of four taxpayer friendly changes that may affect your…
April 15 is not only the deadline for filing your 2020 tax return, it’s also the deadline for the first quarterly estimated tax payment for 2021 if you’re required to…
Good news! Business taxpayers may still be able to take actions to lower their federal income tax liabilities for 2020, as well as for future years. Consider these ideas before you…
Before President Trump signed the latest economic stimulus law, several temporary COVID-19-related federal tax relief measures were set to expire on December 31, 2020. This article explains the current status of…
Unfortunately, many businesses have already been forced to close their doors due to the economic fallout from COVID-19, and more will surely follow. Closing a business has important federal income tax…
The CARES Act granted several valuable federal tax breaks for individuals and businesses. But most will expire at the end of 2020 or at the end of tax years that begin…
Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any way we can, including taking care of…