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Payroll Tax

Small Businesses Should Stay Clear of a Severe Payroll Tax Penalty

One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’ paychecks but also that you pay them over to the federal government on time. If you willfully fail to do so, you could
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US Tax Forms. The Concept Of Tax Settlement

Frequently Asked Questions About Self-Employment Tax

Do you owe self-employment (SE) tax on non-wage income that you collect only occasionally or in a one-off circumstance? Some sources of income may not be subject to the dreaded SE tax. Here’s what you should know if you earn income from “irregular” sources. Reality Check: Random Income Isn’t Tax-Free
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Year End Review

Year-End Tax Planning Moves for Small Businesses

It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019 business tax
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Rental Property

Tax Breaks for Becoming a Landlord

Have you always wanted to buy rental property and become a landlord? As you can imagine, putting up with some tenants can be a pain in the neck. But the discomfort can be eased by the valuable tax breaks available to rental property owners. In fact, favorable tax laws are
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Tax Planning for Investments Gets More Complicated

For investors, fall is a good time to review year-to-date gains and losses. Not only can it help you assess your financial health, but it also can help you determine whether to buy or sell investments before year end to save taxes. This year, you also need to keep in
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Independent contractor or employee?

Independent contractor or employee?

“Why do I need to worry about proper classification?  It’s not my responsibility.  I am just a small business owner trying to grow my business……” Unfortunately, improperly classifying someone as an independent contractor when they are truly an employee can cause some major headaches! The idea that whether a worker
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Stock Market Analysis

Wash Sale Rule

It seems as though the stock market has been on a roller coaster ride for most of the year with all of its ups and downs.  Did you sell stock for a gain during the year and are now looking to offset some of those gains during the fourth quarter? 
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Gift Tax

Making a Charitable Donation? Maximize your gift—Limit your tax liability

Planning to make a contribution to your favorite charity or alma mater and want to maximize your charitable contribution…. Consider donating appreciated stock from your investment portfolio instead of cash. Tax benefits from the donation can be increased and the organization is just as happy to receive the stock. Where
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