Under the Families First Coronavirus Response Act (FFCRA), enacted in March of 2020, employees could (through December 31, 2020) take paid sick time and paid family leave to care for themselves or loved ones because of COVID-19. In turn, eligible employers could claim tax credits to offset costs of the leave. If your business has [...]
If you share a vacation home with family members, holding it in a limited liability company (LLC) is one option that offers several important benefits. Here are a few: Asset protection. By establishing an LLC to own the home and transferring interests to family members, you can protect the home against claims by a family [...]
The COVID-19 pandemic has significantly affected our lives in many ways that are still playing out. For example, it has served as a reminder of how difficult an unexpected medical crisis can be to manage financially. It’s also reinforced the importance of guarding against the risk of such crises before they arise. In this context, [...]
Save Time By Memorizing Transactions in QuickBooks Do you create the same transactions repeatedly? QuickBooks allows you to memorize them. Accounting involves a lot of repetition. You send invoices and receive payments and pay bills, over and over. Sometimes they’re similar enough every month that you’d swear you already processed them. QuickBooks has a feature [...]
Stock market swings may bring fortune or fear, so investors shouldn’t forget about the helpful balance of bonds. Perhaps the most “user friendly” is a U.S. government savings bond. Buying one means you’re essentially lending the federal government money at a certain interest rate in exchange for a future return. U.S. savings bonds don’t offer [...]
With the economy expected to improve in the months or quarters ahead, many business owners and entrepreneurs may decide to launch new enterprises. If you’re among them, be aware that the way you handle some of your initial expenses can make a large difference in your tax bill. GENERAL RULES Start-up costs include those incurred [...]