November 30, 2018

Small business owners often use their personal vehicles for business purposes, but they don't always reimburse themselves from their own company for that mileage. Instead, they typically deduct that mileage on their personal return. With the changes made last year for tax reform, that deduction is now gone.... but all hope is not yet lost.

Businesses can still get a deduction for business mileage , and for S corp shareholders, getting a reimbursement from the business for mileage is the best way to still get that deduction since the business's taxable income flows through to the shareholder's personal return. If you are the only shareholder in your...

June 6, 2018

Although the majority of existing tax law remained intact, there were some significant changes made when the tax reform package was passed late in 2017. Most notable are the changes to individual tax returns. Below, we have compiled a summarized list of changes that you can expect to see when you file your individual tax return this year. **Spoiler Alert... the postcard-sized tax return was not included in the final changes.**

  • Tax Rate Modifications: The Act maintains seven tax brackets as in prior law while reducing the highest tax bracket from 39.6% to 37% for Single filers with taxable income over $500,000, but only $600,000 for Ma...

December 15, 2017

Now is the perfect time to make a change for the upcoming year!

Contact us today to find out how you can get:

  • FREE payroll for the first month

  • FREE monthly, quarterly and annual payroll tax filings

  • FREE W-2's and 1099's

  • FREE direct deposit and online check stubs for employees

  • UNLIMITED payrolls each month

  • PLUS 10% discount from your monthly payroll processing fees

Regular monthly payroll fees start at $39/month + $6/employee/month for the core payroll plan, before our 10% discount mentioned above.

Benefit management and HR services are also available for an additional charge, so just ask!

This is NOT a limited-time offer,...

September 28, 2017

The Trump Administration recently released is Tax Reform plan titled "Unified Framework For Fixing Our Broken Tax Code". It's a 9-page document that touts "More jobs", "Fairer taxes", and "Bigger paychecks". Overall, the plan achieves just one of its goals, and does so by ignoring or going against the other goals...

The plan starts off with a set of goals:

  • Tax relief for middle-class families

  • The simplicity of "postcard" tax filing for the vast majority of Americans

  • Tax relief for businesses, especially small businesses

  • Ending incentives to ship jobs, capital, and tax revenue overseas

  • Broadening the tax base and providing greater...

September 13, 2017

Tax relief includes extended filing deadlines, ability to include property and casualty losses on prior year returns to expedite refunds, ability to obtain loans from 401k plans to pay for repairs, relief from fees to request copies of tax documents from IRS, and relief on certain fuel taxes. Contact us today for help in receiving any of these benefits if you have been impacted by Hurricanes Harvey or Irma.

IR-2017-151, Sept. 12, 2017

WASHINGTON —The Internal Revenue Service today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Irma and members of their families. Thi...

February 20, 2016

If you are self-employed, you normally carry on a trade or business. Sole proprietors and independent contractors are two types of self-employment. If this applies to you, there are a few basic things you should know about how your income affects your federal tax return. Here are six important tips from the IRS:

  • SE Income. Self-employment can include income you received for part-time work. This is in addition to income from your regular job.

  • Schedule C or C-EZ. You must file a Schedule C, Profit or Loss from Business, or Schedule C-EZ, Net Profit from Business, with your Form 1040. You may use Schedule C-EZ if you had expenses le...

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