Given the disruption of blockchain in financial services and their subsequent widespread application across industries, it's hard to find a segment that the technology hasn't...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 02/15/2022
All businesses that have employees must submit an annual W-2 report containing information on total employee compensation and withholding tax for the year. If you have W-2 forms for...
Posted by Taxes Made EZ Inc on 01/21/2022
Many people assume that stocks are riskier compared to bonds. Should this be true, you will have mutual funds in a bond-oriented portfolio, which will be less risky than a stock-oriented...
Posted by Pat Raskob on 11/30/2021
Cash balance plans are defined benefit retirement savings plans that allow business owners to make large deductible contributions each year and build up deferred retirement savings....
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/04/2021
Personal / private pension refers to the kind of pension you can set up to enable proper savings for retirement. The value of this pension is based on the amount of money you pay in...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 09/30/2021
Bank reconciliations occur when a person needs to compare all financial records from sales to expenditures against the bank's documents. This system enables people to authenticate...
Posted by Taxes Made EZ Inc on 09/30/2021
Defaulting on your business loan will trigger a series of negative consequences. It might accelerate the loan, making you owe the entire loan balance rather than what is outstanding...
You might need to report the canceled amount as income on your tax return if you could get a debt write-off or forgiveness. You should know what to expect so you don't end up with...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 09/20/2021
Deferred compensation plans can be a useful savings tool, especially for participants who want to maximize 401(k) contributions while still having savings to invest. Deferred compensation...
Posted by Taxes Made EZ Inc on 09/03/2021