mconnolly54Jul 3, 20192 minEmployers: Be aware (or beware) of a harsh payroll tax penaltyIf federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the...
mconnolly54Jul 3, 20193 minThe chances of IRS audit are down but you should still be preparedThe IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with...
mconnolly54Jul 3, 20192 minTax-smart domestic travel: Combining business with pleasureSummer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner,...
mconnolly54Jul 3, 20192 minIt’s a good time to check your withholding and make changes, if necessaryDue to the massive changes in the Tax Cuts and Jobs Act (TCJA), the 2019 filing season resulted in surprises. Some filers who have gotten...
mconnolly54Jul 3, 20192 minHire your children this summer: Everyone winsIf you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax...
mconnolly54Jul 3, 20192 minSelling your home? Consider these tax implicationsSpring and summer are the optimum seasons for selling a home. And interest rates are currently attractive, so buyers may be out in full...
mconnolly54Jul 3, 20192 minConsider a Roth 401(k) plan — and make sure employees use itRoth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the