• Watch Out for Tax Penalties

Watch Out for Tax Penalties

Article Highlights: Underpayment of Estimated Tax and Withholding Penalty Required Minimum Distribution Penalty Late-Filing Penalty Late-Payment Penalty Negligence Penalty Fraud Penalty Dishonored Check Penalty Missing ID Number Penalty Early Withdrawal Penalty Penalty for Failure to Report Tips Foreign Reporting Excessive Claim Penalty Accuracy-Related Penalty for Non-itemizers Frivolous Return Penalty Penalty for Failure to File Information Returns Most taxpayers don't intentionally incur tax penalties, but [...]

By |2021-12-02T00:12:10+00:00December 13, 2021|Taxes|Comments Off on Watch Out for Tax Penalties
  • Compass Real Estate: A Bold Industry Leader Every Step of the Way

Compass Real Estate: A Bold Industry Leader Every Step of the Way

If you've never heard the name Robert Reffkin before, you'd be forgiven — but you're almost certainly familiar with his work. Reffkin was raised the child of a single mother, herself an Israeli immigrant. It was from her that he learned the beginnings of what would eventually become his now-famous entrepreneurial spirit. At one point during his youth, Robert wanted to launch a DJ [...]

By |2021-12-02T00:12:19+00:00December 10, 2021|Business|Comments Off on Compass Real Estate: A Bold Industry Leader Every Step of the Way
  • How Adopting Technology Helped Restaurants Survive and Thrive During the Pandemic

How Adopting Technology Helped Restaurants Survive and Thrive During the Pandemic

Restaurants and other hospitality businesses were among the hardest hit during the pandemic, and even as infection and hospitalization rates wane, many consumers are hesitant about returning to their pre-pandemic activities. Despite these challenges, businesses have managed to survive and thrive with the help of innovative technologies like Toast, a restaurant-only software solution that addresses point of sale, restaurant operations, kitchen dashboards, online ordering [...]

By |2021-12-02T00:12:29+00:00December 9, 2021|Business|Comments Off on How Adopting Technology Helped Restaurants Survive and Thrive During the Pandemic
  • Are You a Candidate for Bunching?

Are You a Candidate for Bunching?

Article Highlights: Standard Deductions Itemized Deductions Bunching Strategy Medical Expenses Taxes Charitable Contributions The changes in the 2017 Tax Cuts and Jobs Act (TCJA) included nearly doubling the standard deduction and placing limitations on or suspending certain itemized deductions, effective for tax years 2018 through 2025. The new standard deduction amounts for 2018 were $12,000 for single individuals and married people filing separately (MFS), [...]

By |2021-12-02T00:12:37+00:00December 8, 2021|Taxes|Comments Off on Are You a Candidate for Bunching?
  • Intimidated by Accounting? Five Simple Steps Are All You Need

Intimidated by Accounting? Five Simple Steps Are All You Need

When you decided to start your own company, you likely focused on the products or services you were selling, along with your amazing customer service and marketing skills. While running your own small business offers plenty of upsides, it also means you’re responsible for every aspect of operations, including the parts you think are beyond your capabilities – or just plain boring. Accounting tasks [...]

By |2021-12-02T00:12:46+00:00December 7, 2021|Accounting|Comments Off on Intimidated by Accounting? Five Simple Steps Are All You Need
  • Avoiding IRS Underpayment Penalties

Avoiding IRS Underpayment Penalties

Article Highlights: Pay-as-You-Earn System Safe Harbor Payments Situations Triggering Underpayments True Safe Harbors Congress considers our tax system a "pay-as-you-earn" system. To facilitate that concept, the government has provided several means of assisting taxpayers in meeting the "pay-as-you-earn" requirement. These include: Payroll withholding for employees; Pension withholding for retirees; and Estimated tax payments for self-employed individuals and those with other sources of income not covered [...]

By |2021-12-01T23:51:30+00:00December 6, 2021|Taxes|Comments Off on Avoiding IRS Underpayment Penalties
  • Corporations: Do You Really Want To Pay Those Dividends?

Corporations: Do You Really Want To Pay Those Dividends?

If you invest in stocks, you probably look forward to receiving dividend checks (or notices that your dividends have been reinvested) from the companies you own shares in. It's an added perk of ownership that increases your return on investment. But not everybody is a fan of these additional payments, and plenty of corporations purposely pass over providing them. The reason for this is clear [...]

By |2021-12-01T23:51:39+00:00December 3, 2021|Business|Comments Off on Corporations: Do You Really Want To Pay Those Dividends?
  • President Biden's Build Back Better Act Passed by The House; Fate Now in the Senate's Hands

President Biden’s Build Back Better Act Passed by The House; Fate Now in the Senate’s Hands

Article Highlights: Build Back Better Act Senate is Next Highlights of Certain Provisions Included in the House Version Noticeably Absent from the Original Bill On November 19, 2021, the House of Representatives passed their proposed version of President Biden's Build Back Better Act, which was substantially pared down from the original version. The Senate will now take up the legislation, and without question there [...]

By |2021-12-01T23:51:47+00:00December 2, 2021|News|Comments Off on President Biden’s Build Back Better Act Passed by The House; Fate Now in the Senate’s Hands
  • 10 Tax-Saving Strategies to Consider Before Year-End

10 Tax-Saving Strategies to Consider Before Year-End

Article Highlights: Taking Stock of Tax Strategies Education Tax Credits Converting a Traditional IRA to a Roth IRA Minimum Required Distributions Charitable Contributions Qualified Charitable Distributions Health Savings Accounts Prepaying State Taxes Paying Medical/Dental Bills Gifting Avoiding Underpayment Penalties It seems hard to believe, but the holiday season is almost upon us, and that means that the 2021 tax preparation season will soon follow. [...]

By |2021-12-01T23:51:59+00:00December 1, 2021|Taxes|Comments Off on 10 Tax-Saving Strategies to Consider Before Year-End
  • Entrepreneur Success Stories: How R. J. Scaringe and Rivian Built an Electric Truck Company From the Ground Up

Entrepreneur Success Stories: How R. J. Scaringe and Rivian Built an Electric Truck Company From the Ground Up

Based in California, Rivian is an American automotive manufacturer that specializes in electric vehicles. Originally founded back in 2009, the company now has manufacturing plants in Illinois, Michigan, California, Vancouver, and England. Designing cars intended for both on and off-road driving, the organization currently employs more than 7,000 people as of 2021. You may have heard about Rivian recently because they just rolled off [...]

By |2021-11-04T20:54:25+00:00November 9, 2021|Business|Comments Off on Entrepreneur Success Stories: How R. J. Scaringe and Rivian Built an Electric Truck Company From the Ground Up
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