Writing a will is often not as simple as naming a beneficiary and signing your name on the dotted line. In order to make sure that your will considers all potentialities, take these steps before you start to write. Speak with Your Family When you are writing a will, it can be somewhat sensitive to bring family members into the process, but this can help to ensure that no one is surprised later on.
22 June 2016
With so many tax programs available many people wonder if there is any reason to hire a tax professional to help them with their taxes. Although there are circumstances where you can do it on your own, there are some instances where it is best to hire a professional to help you prepare your taxes. Here are some reasons to hire a professional. 1. You are Self-Employed Being self-employed has many advantages.
8 February 2016
Businesses are able to boost employee morale by offering fringe benefits. In addition to being tax-deductible by a company, some types of fringe benefits are tax-free to employees. Employers that provide qualified transportation benefits produce tax advantages for both the company and the employee. Section 132 of the Internal Revenue Code allows employees to exclude certain types of transportation payments from taxable income. The added benefit to the company is that qualified fringe benefits are not subject to Social Security and Medicare withholding.
27 July 2015
Many people wrongly assume that all an accountant can do is help you with your taxes. However, an accountant can actually help your small business year-round in a variety of different ways. Here are three ways an accountant can assist your small business: An Accountant Can Help You With Your Business Planning If you choose to work with an accountant on a day-to-day basis, they can help you keep track of all of your credits and debits, as well as your profits and losses, for each of your business assets.
1 July 2015
Whether you're trying to correct the course of a struggling business or looking to maximize the profits of an already thriving company, outside consultants can provide a fresh outlook that may offer you new solutions that you haven't considered in the past. However, unless you ask the right questions, business consulting may not be able to provide you with the answers you may be counting on. Below, you'll find a guide to some questions you should be sure to ask the business consultant that you hire.
25 June 2015
There are many services available to small business owners, but perhaps the most overlooked is a payroll service. Many small businesses choose to forgo this surprisingly essential tool. If you're a small business owner, you're wondering why you should use a payroll service. Here are six reasons to hire a payroll service: 1. Time Outsourcing payroll frees up a lot of time. If you have thirty employees or more, you and your managers can spend many hours each payday on payroll tasks.
23 June 2015
As an independent contractor, you pay more in social security and medicare costs than you would if your were working for a corporation. The reason for this is that when you work for company, they are required to pay part of the above-mentioned taxes. As an independent contractor, you have to pay 12.4% of your income for Social Security and another 2.9% for Medicare for a total of 15.3%. This can cut into your profits and decrease your tax return when tax season rolls around.
22 June 2015