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Avoiding surprises as a business owner is crucial to ensure you have a successful business. The same goes for managing your personal finances. By subscribing to our blog and newsletter you get the latest updates on the world of finance and taxes. Additionally, by visiting our main topic categories below you can educate yourself on the various topics regarding tax education, personal finance, and business ownership. 

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Employee Retention Credit Could Help Your Business

Posted by Missy Dennis on May 19, 2020 8:11:00 AM

Businesses that have been impacted financially by COVID-19 may be able to take advantage of a new, refundable tax credit called the Employee Retention Credit. The credit is designed to encourage businesses to keep employees on their payroll and is worth 50 percent of qualifying wages up to $10,000 that are paid by an eligible employer.

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Topics: Business Ownership, Taxes, Tax Credit, Small Business, Business Expenses

Tax Breaks Help Small and Medium-sized Employers

Posted by Scott Farnes on Apr 16, 2020 7:58:00 AM

Small and medium-sized employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing coronavirus-related leave to their employees. This relief to employees and small and midsize businesses is provided under the Families First Coronavirus Response Act (Act), signed into law on March 18, 2020.

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Topics: Business Ownership, Tax Credit, Small Business, Business Expenses

CARES Act: Information for Individual Taxpayers

Posted by Missy Dennis on Apr 9, 2020 8:07:00 AM

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the stimulus bill that was signed into law on March 27, 2020, contains legislation to stabilize the economy during the coronavirus pandemic. These measures include economic recovery checks for taxpayers, as well as several other tax provisions affecting individuals.

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Topics: Personal Finance, Taxes, Tax Credit, Tax Return

Claiming an Elderly Parent or Relative as a Dependent

Posted by Missy Dennis on Feb 26, 2020 8:23:00 AM

Are you taking care of an elderly parent or relative? Whether it's driving to doctor appointments, paying for nursing home care or medical expenses, or handling their personal finances, dealing with an elderly parent or relative can be emotionally and financially draining, especially when you are taking care of your own family as well.

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Topics: Taxes, Tax Credit

ACA Reporting Requirements for Employers

Posted by Missy Dennis on Feb 19, 2020 7:51:00 AM

The health care law contains tax provisions that affect employers. Two parts of the Affordable Care Act apply only to applicable large employers. These are the employer shared responsibility provisions and the employer information reporting provisions for offers of minimum essential coverage.

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Topics: Business Ownership, Taxes, Tax Credit, Small Business, Tax Return

Important Tax Changes for Individuals and Businesses

Posted by Missy Dennis on Jan 9, 2020 8:05:00 AM

Every year, it's a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here's a checklist of tax changes to help you plan the year ahead.

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Topics: Personal Finance, Taxes, Retirement, Managing Your Tax Liability, Tax Deduction, Tax Credit, Tax Return, Tax Planning, HSA, Tax Reform

Individual Taxpayers: Recap for 2019

Posted by Missy Dennis on Dec 4, 2019 8:35:00 AM

As we close out the year and get ready for tax season, here's what individuals and families need to know about tax provisions for 2019.

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Topics: Personal Finance, Taxes, Managing Your Tax Liability, Tax Credit

Refundable vs. Non-Refundable Tax Credits

Posted by Missy Dennis on Oct 21, 2019 8:51:00 AM

Tax credits can reduce your tax bill or give you a bigger refund, but not all tax credits are created equal. While most tax credits are refundable, some credits are nonrefundable, but before we take a look at the difference between refundable and nonrefundable tax credits, it's important to understand the difference between a tax credit and a tax deduction.

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Topics: Personal Finance, Taxes, Tax Credit

The Small Business Health Care Tax Credit

Posted by Taylor Bennett on Oct 7, 2019 8:29:00 AM

If you're a small business owner with fewer than 25 full-time equivalent employees you may be eligible for the small business health care credit.

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Topics: Business Ownership, Taxes, Tax Credit, Small Business