News | Connolly, Steele & Company

The latest news from Connolly Steele about personal & business accounting, payroll & tax services plus financial advice & planning.

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Employers: Be aware (or beware) of a harsh payroll tax penalty

If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the...

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The chances of IRS audit are down but you should still be prepared

The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with...

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Tax-smart domestic travel: Combining business with pleasure

Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner,...

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It’s a good time to check your withholding and make changes, if necessary

Due to the massive changes in the Tax Cuts and Jobs Act (TCJA), the 2019 filing season resulted in surprises. Some filers who have gotten...

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Hire your children this summer: Everyone wins

If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax...

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Selling your home? Consider these tax implications

Spring and summer are the optimum seasons for selling a home. And interest rates are currently attractive, so buyers may be out in full...

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Consider a Roth 401(k) plan — and make sure employees use it

Roth 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