Health Savings Accounts, or HSAs, have increased in number–in 2016, 72% of large employers provided them. There are several reasons for this, not the least of which is that it works with insurances with high deductibles. The point of an… Read More
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3 Red Flags the IRS is Looking for in Your Audit
The IRS usually conducts audits through a random statistical formula, meaning that you should always be ready to be evaluated. If you’re managing your finances correctly and efficiently, you have nothing to worry about; the IRS will contact you by… Read More
All You Need to Know About Your 401-K
Retirement is a looming prospect for many employees, which is why so many employers provide the option to invest in a 401-K plan. In 2013, there were 88.7 million Americans investing in a 401-K plan; in some cases, you could… Read More
Should I Form an LLC or a Coorporation?
Starting your own business can be a daunting task. And one of the first decisions you’ll have to make is deciding whether or not you should form an LLC or a corporation. When you incorporate or become an LLC, you… Read More
Should You Count by Mileage or Actual Vehicle Expenses?
What’s the best way to claim your business auto expenses on your tax return? It depends. The first year you put the vehicle in service, you have a choice between two methods. You can use the actual expenses method or… Read More
The Difference Between an Independent Contractor and an Employee
Business owners may find it difficult to tell the difference between an independent contractor and an employee. Contrary to popular belief, the variations are actually quite significant; the IRS determines the guidelines, and following them is an important part… Read More
New 1099 and W2 Filing Deadlines for 2017
Tax season can come with a lot of headaches for employers—creating W2s and 1099s for a roster of employees and independent contractors, keeping filing deadlines straight, and keeping track of your personal taxes. Thanks to changes in tax law, the… Read More
Financial Goals to Strive For by the End of January 2017
It’s important to start your financial planning at the beginning of the year; organization is key when it comes to handling funds. And when you’ve got so much going on in January, it can be difficult to keep track of… Read More
What Can Small Business Owners Do in January to Prepare for Tax Season?
The new year is finally here! January is a great time to focus on your personal goals for the upcoming year. You may be setting new year’s resolutions to stay healthy or save money. What about your business? As a… Read More