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6 essential tips for small business payroll tax compliance
Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships and...
ConnollySteele
Apr 152 min read


Deduct a loss from making a personal loan to a relative or friend
Suppose your adult child or friend needs to borrow money. Maybe it’s to buy a first home or address a cash flow problem. You may want to...
ConnollySteele
Apr 153 min read


Are you a tax-favored real estate professional?
For federal income tax purposes, the general rule is that rental real estate losses are passive activity losses (PALs). An individual...
ConnollySteele
Apr 153 min read


Discover if you qualify for “head of household” tax filing status
When we prepare your tax return, we’ll check one of the following filing statuses: single, married filing jointly, married filing...
ConnollySteele
Apr 153 min read


Small business alert: Watch out for the 100% penalty
Some tax sins are much worse than others. An example is failing to pay over federal income and employment taxes that have been withheld...
ConnollySteele
Apr 153 min read


It's April 15th, but there is another essential tax deadline and it’s unrelated to your 2024 return filing
Tuesday, April 15 is the deadline for filing your 2024 tax return. But another tax deadline occurs on the same day, and it’s essential...
ConnollySteele
Apr 152 min read


Turn a summer job into tax savings: Hire your child and reap the rewards
With summer fast approaching, you might be considering hiring young people at your small business. If your children are also looking to...
ConnollySteele
Apr 153 min read
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