Restaurants can claim a federal income tax credit based on the share of FICA and Medicare ("employment") taxes that they pay on reported tip income to employees. In an ideal...
Posted by Elliot Kravitz, ATP on 03/05/2021
Many Americans do not like taxes. As a result, people do look for everything possible to reduce what they send to Uncle Sam. This is where deductions come in as they help reduce people's...
Posted by Thomas G Kinsella, ATP on 03/05/2021
Taxpayers and American citizens who adopt a kid can be eligible to claim the adoption tax credit after paying their out-of-pocket expenses for the adoption. Examples of these expenses...
Posted by Unifirst Financial & Tax Consultants on 03/05/2021
The IRS' voluntary Classification settlement program offers taxpayers an opportunity to reclassify workers as "employees" for tax with the hope of getting limited tax...
Posted by Abundant Wealth Planning LLC on 03/01/2021
The VCSP (voluntary classification settlement program) is a program developed by the IRS that allows taxpayers to voluntarily reclassify their employees as employees in future tax...
Posted by The TaxAdvocate Group, LLC on 02/28/2021
Qualified pension plans have many tax advantages but some disadvantages for employers and highly compensated employees (HCEs) or entrepreneurs. For companies, qualified pension plans...
Posted by Daniel P Vigilante CPA and Profit Consultants on 02/23/2021
Uncle Sam needs to be aware of your most recent address to be able to send you vital correspondence and your refund check. The IRS has many options with which taxpayers could notify...
Posted by Don Bell Law on 02/23/2021
Taxes can be tricky and complicated, especially for small businesses. It could be challenging to estimate taxes associated with employees. With this article, we will shed light on...
Posted by Aurelia E Weems CPA on 02/17/2021
Obviously, it is good to save early for retirement as one will qualify for more benefits, but one also needs to prepare for taxes, when retired. Here are some proven tips to reduce...
Posted by Thomas G Kinsella, ATP on 02/16/2021
