Business protection for specific risks in your industry. Even if you already own a Business Owners Policy, you are not protected from lawsuit-related costs. Errors and Omissions insurance is necessary for proper protection against professional liability claims. Watch this video provided by Hiscox, one of our many carriers. https://www.youtube.com/watch?v=Mtzd8GgV5NQ
Over 41,600 incidents and 2,013 confirmed data breaches were investigated by Verizon and its partners in the past year.1 The numbers paint a dark picture of the growing threat to businesses of all sizes - concern for cyber-crime has increased 62 percent in the past year among business decision makers, according to a recent survey.2 To prevent or mitigate loss, an incident response plan should [...]
Article Highlights: Financially Assisting Grandchildren College savings Education savings Retirement accounts Medical expenses If you are a grandparent there are several things you can do to teach your grandchildren financial responsibility and set aside money for their future education and retirement. Before we get into actual suggestions, it is important that you understand the gift tax rules. You can give anyone, every year, an [...]
Article Highlights: Credit History Credit Percentage and Annual Credit Limit Per Item Credit Limit Home Energy Audit Identification Number Requirement Other Credit Issues Tip To Maximize The Credit This credit goes all the way back to 2006, providing a tax credit for making energy-saving improvements to a taxpayer’s home. This tax benefit was supposed to expire after 2021 but a law change has given [...]
If you had to make a list of people who changed the world essentially just by existing, Henry Ford's name would likely be on it. Most people know him from history as the founder of the (appropriately named) Ford Motor Company. Here, he developed the assembly line method of mass production. Not only did this help cut costs enormously, creating the first automobile that [...]
Article Highlights: Child Tax Credit Dependent Care Benefits Recovery Rebates Employee Retention Credit Congress has for years used the tax return as a means of providing benefits to taxpayers in need and incentives to stimulate activities in business, as well as addressing environmental issues. So when COVID-19 hit, Congress and many state governments provided tax benefits to help citizens through the pandemic. Because the [...]
According to one recent study, workers who make up the "gig economy" contributed roughly 5.7% to the gross domestic product of the United States in 2021 alone. If you needed a single statistic to help underline what a significant shift this has become in the way that we all collectively think about employment, let it be that one. Of course, eschewing the potential challenges [...]
Article Highlights: Child Tax Credit Earned Income Tax Credit Head of Household Filing Status Child Care Education Savings Plans Education Tax Credit Education Loan Interest Child's Medical Expenses If you are a parent, whether single, married or divorced, there are a significant number of tax benefits available to you, including deductions, credits, and filing status that can help put a dent in your tax [...]
Article Highlights: Income Limit Credit Amount Previously Owned Clean Vehicle Qualified Sale Qualified Buyer Dealer Report Transfer of Credit to the Dealer Vehicle Identification Number Non-refundable Credit 2023 brings with it a whole new set of rules related to qualifying for a tax credit for purchasing a used electric vehicle. This is the first time that used electric vehicles have qualified for a tax [...]
Michael J. DaCorta, a 57-year-old man from Sarasota, Florida, recently learned the hard way that the biggest downside of cheating the IRS and running a longtime Ponzi scheme can be summed up in two fairly straightforward words: "federal prison." In October, it was announced that DaCorta had been sentenced to 23 years in federal prison. He was at the forefront of a Ponzi scheme [...]
