Are you one of the millions of boaters with spring fever, itching to get your vessel out of winter storage and back onto the water? If so, be sure to take the time to properly de-winterize and prepare your boat before taking it out for its first voyage of the season. Having a spring ritual that includes recommended inspection, tune-up and cleaning of your [...]
According to one recent study, the global food service market size was valued at an impressive $2.3 trillion as of 2021. That number is expected to grow to an incredible $5.1 trillion by the end of the decade. In recent years, many restaurateurs in the United States in particular have become almost as notable as their creations themselves. Decades ago, you'd be hard-pressed to [...]
Article Highlights: Employees Tax Avoidance Form 1099-K Filing 1099s Correct Procedures W-2s, Payroll Taxes and Reporting Overtime Hourly Pay or Salary Separate Payrolls If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don't know about — or one that you do know about but are ignoring. Either situation can come back [...]
Small businesses face unique challenges, and at times can benefit greatly from a small boost. When small businesses succeed, everyone benefits. Following the success of the 2022 Driving Small Business Forward program with Hello Alice, Progressive is expanding opportunities for small businesses to apply for a grant. This year, Progressive is supporting the Hello Alice Small Business Growth Fund which awards grants to small [...]
Article Highlights: Caring for Disabled Family Members Qualified Medicaid Waiver Payments Exclusion Qualifications Mandatory Exclusion Earned Income Earned Income Tax Credit Tax Court Ruling Many taxpayers prefer to care for ill or disabled family members in their homes as opposed to placing them in nursing homes, but doing this can be expensive, time-consuming, and exhausting. The government also recognizes home care as a means [...]
Article Highlights: Non-statutory Option Wage Income Statutory (Incentive) Options Capital Gains Alternative Minimum Tax Many companies, as an incentive to employees to help grow the companies’ market value, will offer stock options to key employees. The options give the employee the right to buy up to a specified number of shares of the company’s stock at a future date at a specific price. Generally, [...]
If you had to make a list of all the things that most business owners hate, taking care of accounting and other financial matters is probably right at the top. Yet at the same time, a lot of those same business owners are struggling. Maybe they had a financial goal that they fell significantly short of. Maybe they tried to release a new product [...]
In 2022 alone, there were approximately 15.4 million layoffs in the United States as per one recent study. About 6.9 million of them happened in the last half of the year, from August to December. It's also worth noting that this is certainly nothing new. It has been estimated that about 40% of people have been laid off (or fired) from a job at [...]
Article Highlights: Filing Due Date Disaster Area Filing Due Dates Extensions Balance-Due Payments Contributions to Roth or Traditional IRAs Individual Refund Claims for the 2019 Tax Year If There is Still Missing Information As a reminder to those who have not yet filed their 2022 tax returns, April 18, 2023 is the due date to either file a return (and pay the taxes owed) [...]
Companies must understand their employees’ motivations and mindsets. Since the pandemic, employee needs have changed. Workers have different priorities, such as the desire for flexibility and remote work. Organizations cannot afford to fall behind in the evolution of the workplace. Those that do won’t attract and retain top talent effectively. Forward-thinking companies know what employees want. Do you know what that is? You can [...]
