If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if you have taxable income from sources such as interest, dividends, self-employment, capital gains or other income. Here are the applicable rules for paying
If your child has been awarded a scholarship, that’s cause for celebration. For some students, it will mean the difference between going to the college of their choice or starting at community college – or even not going at all. But be aware that scholarship may bring tax implications. GENERALLY,
Family businesses make up a huge percentage of companies in the United States and produce much of the country’s gross domestic product. Often defined as companies that are majority owned by a single family with two or more members involved in their management, family businesses can be a significant source
Despite the robust job market, some people are still losing their jobs. If you’re laid off or terminated from employment, taxes are probably the last thing on your mind. However, you may face tax implications due to your changed personal and professional circumstances. Depending on your situation, these can be
July 10 Employees must report June tip income of $20 or more to employers (Form 4070). July 31 Employers must report income tax withholding and FICA taxes for second-quarter 2023 (Form 941) and pay any tax due. July 31 Employers must file a 2023 calendar-year retirement plan report
Sadly, many businesses have been forced to shut down recently due to the challenges of the economy, including the supply chain. If this is your situation, we can help you meet the various tax responsibilities that go with closing a business. Of course, a business must file a final
5 Things You Should Do Every Time You Open QuickBooks Some habits are good. Here are five of them that will keep you in the know about your financial status in QuickBooks. Usually when people talk about habits, they’re trying to find ways to break bad ones. Sometimes it’s difficult
If you were distressed to find you owed money when you filed your last federal tax return, you might want to change your withholding so that this doesn’t happen again. You might even want to adjust your withholding if you got a big refund, because you’re essentially giving the government
Summertime isn’t far off. If you typically hire minors for summer jobs, it’s a good idea to brush up on child labor laws before you hire. In a March 2022 News Release (No. 22-546-DEN) the U.S. Department of Labor’s Wage and Hour Division (WHD) announced that the department is stepping
April 18 Besides being the last day for individuals to file (or extend) their 2022 personal returns and pay any tax due, first-quarter 2023 estimated tax payments for individuals, trust, and calendar-year corporations are due today (the state of Maine and Massachusetts have an April 19th federal deadline). Also due
