We will honor the March 15th deadline for receiving your documents for an on time filing. However, due to COVID-19 and tax law changes, preparation of your return could take longer than normal. We appreciate your patience as we serve our clients.
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Saved Articles

  • How the New Tax Law Affects Housing

    Of the many changes in the new tax law, few are more controversial, or wide-ranging, than the provisions that modify the deductions available to homeowners. Click through for a sense of how these may affect you.

    Saved on 03-15-2020 - Remove
  • Is This Your Situation: Needing to Send Invoice Reminders via QuickBooks

    Have you ever wondered what to do when you send an invoice to a client but have not been paid after a few weeks? Click through to learn how to set up invoice reminders in QuickBooks Online.

    Saved on 07-01-2020 - Remove
  • Know How to Handle Canceled Debt

    If your debt is forgiven for less than the full amount you owe, the debt is considered canceled, but you still owe taxes. The IRS wants its cut. Click through for a discussion of how this works and the available exceptions.

    Saved on 07-03-2020 - Remove
  • How to Avoid the Top Estate Planning Errors

    Estate planning can get very complicated, and by the time you realize you've made a mistake, it's usually too late to correct it. Click through for the most common pitfalls, so you can make sure you avoid them.

    Saved on 10-30-2020 - Remove
  • New Rules for the Individual AMT

    The alternative minimum tax has long been a confusing thorn in the side of many taxpayers. Many hoped the tax reform law would end it, but it's still with us, although the provisions have changed. Click through to see how the AMT might affect you.

    Saved on 07-17-2020 - Remove
  • IRS Publishes Inflation Adjustments for 2020

    The IRS has announced the tax year 2020 annual inflation adjustments, including the tax rate schedules and other tax changes. These adjustments for 2020 generally apply to tax returns that will be filed in 2021.

    Saved on 07-01-2020 - Remove
  • What to Know About Private Tax Debt Collection

    The IRS is hiring private debt collectors for the hard cases -- those who haven't responded to other attempts to collect back taxes. Click through to find out what this means for you and how to protect yourself.

    Saved on 08-12-2020 - Remove
  • How to Handle Bad Debt and Taxes

    It's a problem almost every business has to face at some point: how to handle bad debt. Fortunately, the IRS may be able to give you a break. Click through for some help in taking care of this.

    Saved on 07-17-2020 - Remove
  • Just What Is an Information Return?

    Certain kinds of business payments trigger the need for what are called "information returns." Just what are they and what are your responsibilities? Click through for a list of the kinds of transactions you have to report.

    Saved on 07-17-2020 - Remove
  • What is D&O Insurance -- and Who Needs It?

    Directors and officers (D&O) liability insurance helps cover costs arising from legal actions brought against an organization's officers or board of directors. Click through to see if it's something you need.

    Saved on 07-17-2020 - Remove
  • What To Do When You Get an Audit Notification

    You’ve opened the mail and your heart sinks. Your business just received an audit notification from the IRS. Click through to learn how to keep your cool and prepare for what happens next.

    Saved on 07-17-2020 - Remove
  • Yes, Home Equity Loans May Still Be Deductible

    Interest on home equity loans and similar products still can be deducted under the new tax law, says the IRS, even though early readings of the law suggested otherwise. Click through to see how you may still be able to claim a deduction.

    Saved on 07-17-2020 - Remove
  • Is This Your Situation: Wondering About a 1031 Exchange

    If you have an investment property, you might be eligible to reap the benefits of a 1031 exchange. Click through to learn how this tax code loophole may be able to save you money on capital gains taxes and more.

    Saved on 07-17-2020 - Remove
  • New Hire Reporting: Are You In Compliance?

    You've added a new member to the team or rehired an employee. You've done the onboarding and made sure the employee will receive all the necessary training. But have you performed new hire reporting? Click through for details on this essential step.

    Saved on 08-16-2020 - Remove
  • Is This Your Situation: Having Trouble with Debit Card Purchases

    Debit cards can be convenient, and many business rely on them to make purchases. But their use can be problematic for your bookkeeping staff. Click through to learn how QuickBooks can help keep track of these expenses.

    Saved on 10-30-2020 - Remove
  • How to Face Your Life Insurance Choices

    There's no such thing as simple life insurance. To protect your loved ones, you have to sort through a bewildering array of choices. Click through for some insights into what's available, and what might be right for you.

    Saved on 08-13-2020 - Remove
  • The IRS and Major Annual Adjustments

    The IRS makes annual adjustments to a variety of plan limits and other key numbers. Click through for a chart listing the most important numbers for 2018 and 2019, so you can see what's changed -- and what hasn't.

    Saved on 08-13-2020 - Remove
  • What Is Probate -- and How You Can Avoid It

    The death of a close family member is traumatic enough, but the legal and accounting necessities that come with it -- especially probate -- can make it worse. Click through to learn the basics of probate and how to avoid it with trusts and other techniques.

    Saved on 08-13-2020 - Remove
  • Converting a Regular 401(k) to a Roth 401(k)

    Many workers don't know that their employers offer a Roth 401(k) option. How can you take advantage of this and what are the benefits? Click through to learn how this type of account works, and whether it might be right for you.

    Saved on 08-13-2020 - Remove
  • The Finances and Taxes of Car Leasing

    A car is typically second only to a home as the biggest purchase you will ever make. And yet, many car owners don't take into account the financial implications. Click through for an analysis of leasing versus buying a car.

    Saved on 08-13-2020 - Remove
  • How to Hold Real Estate in Your IRA

    Traditionally, IRAs contain funds or individual securities, but it's possible to put other kinds of investments into these accounts, including real estate. Click through for some insights into the rewards and dangers of this strategy.

    Saved on 08-24-2020 - Remove
  • 5 Mandatory Registrations for Employers

    To legally become an employer, you must register your business with the federal and state governments. Click through for five types of registrations employers need to perform and what you have to do to stay compliant.

    Saved on 07-01-2020 - Remove
  • DAFs and More: Charitable Strategies

    Taxpayers are still coming to terms with the new tax landscape, especially when it comes to philanthropy. The charitably minded may want to consider new strategies. Click through for some insights and advice into charitable giving.

    Saved on 03-16-2020 - Remove
  • When Is a Child Truly a Dependent?

    When is your child a child, at least in the eyes of the IRS? To claim your child as your dependent, your child must meet either of two tests. Click through to learn what the tests are and whether you meet them.

    Saved on 10-31-2020 - Remove
  • IRAs to Charity: A Useful Estate Planning Technique

    The basic goal of an IRA is to give you money to live on in your retirement years. But it can complicate your estate plan if you leave IRA funds for your family to inherit. Click through to learn about the advantages of leaving your IRA to charity instead.

    Saved on 08-13-2020 - Remove
  • Reminder

    Greetings! We hope you had a great 2017 and are looking forward to 2018.

    To ensure a smooth tax season we are requesting everyone to have their tax information in to us no later than March 16, 2018, otherwise it will be very likely that we will need to file an extension for you.


    Saved on 07-18-2020 - Remove
  • Are You Giving Your Taxes Year-round Attention?

    Giving your taxes your full attention just once a year isn’t the best business strategy. Experts suggest that a year-round approach is better for your finances. Click through to learn the best ways to evaluate the impact of taxes throughout the year.

    Saved on 07-18-2020 - Remove
  • The 4 QuickBooks Reports Small Business Owners Need

    Yes, QuickBooks takes charge of your data, but the real value is in the reports the program generates from all that information. Click through for insights into the key reports and how they can help you.

    Saved on 07-18-2020 - Remove
  • The Major Tax Changes: An Overview

    The recently approved tax bill contains massive changes, and financial professionals will be poring over the details for months. For now, everyone should know at least the basics. Click through for an overview of the changes.

    Saved on 07-18-2020 - Remove
  • Know the Basics of Medicare

    Medicare is a federal insurance program that provides health coverage for older Americans, and its provisions can get quite complicated. Click through for an introduction so you understand what you or your loved ones are entitled to.

    Saved on 07-18-2020 - Remove
  • How Do You Handle Multistate Taxes?

    No matter where your company is headquartered, there's a good chance you conduct business across other state borders. How do taxes work in this situation? Click through to learn about multistate taxes and how to ensure that your business is compliant.

    Saved on 07-18-2020 - Remove
  • Do a Paycheck Checkup

    Especially in the wake of tax reform, some taxpayers could find themselves owing the IRS if they don't adjust their tax withholding. Click through so you won't have sticker shock when you file your return.

    Saved on 07-18-2020 - Remove
  • Rental Real Estate Safe Harbor Under Section 199A

    It can be difficult to determine which expenses meet the standard for qualified business income for rental properties. The Internal Revenue Service recently issued final guidance on a limited safe harbor. Click through to ensure that you understand these complex regulations.

    Saved on 07-18-2020 - Remove
  • IRS Clarifies Deductible Expenses

    The Internal Revenue Service has updated the rules to reflect changes resulting from the Tax Cuts and Jobs Act. Click through to zero in on changes involving deductible expenses, to make sure you're in compliance.

    Saved on 07-18-2020 - Remove
  • Qualities That Make Good Leaders

    Leaders can make the difference between success and failure at a company. Have you shown leadership? Have you hired good leaders? Click through to understand how a strong vision can help you lead.

    Saved on 07-18-2020 - Remove
  • Gifts to Charity: Six Facts About Written Acknowledgments

    You contribute money or gifts to qualified organizations that are eligible to receive tax-deductible charitable contributions. Click through if you plan to claim a charitable deduction on your tax return.

    Saved on 07-01-2020 - Remove
  • Supreme Court Issues Historic Ruling on Gay and Transgender Workers

    In one of the most significant workplace rulings in years, the Supreme Court said that workplace protections outlined in the Civil Rights Act of 1964 apply to gay and transgender workers. Click through to find out what it means for workers and employers.

    Saved on 01-14-2021 - Remove
  • The Latest Rules on Charitable Donations

    With a much larger standard deduction in play, and lower marginal tax rates, the charitable giving world has changed. Has anything else changed? Click through for the latest IRS guidance on charitable giving.

    Saved on 11-30-2020 - Remove
  • QuickBooks: Easy Tips for Solving Problems

    As with everything in life, there are shortcuts to increase efficiency. And QuickBooks is no exception. Click through to explore certain tips and tricks to writing checks and bank reconciliations.

    Saved on 03-18-2020 - Remove
  • What to Know About Employer ID Numbers

    The Employer Identification Number is also known as a Federal Tax Identification Number and is used to identify a business entity. Click through to understand the often important details surrounding the EIN.

    Saved on 08-16-2020 - Remove
  • Toward a Better Credit Score

    Good credit is helpful, even essential, for a successful financial life. The best advice for improving credit is to manage it responsibly over time. Click through for an introduction to the care and maintenance of your credit.

    Saved on 08-14-2020 - Remove
  • Is Your Homeowners Insurance Up-to-Date?

    You bought homeowners insurance when you bought your home, but then you probably forgot about it except for the bills, and that's a mistake. Click through to learn why you should continually review your insurance.

    Saved on 08-14-2020 - Remove
  • What Is Tax-Efficient Investing?

    Investing solely because of a focus on taxes can be counterproductive, but taxation still has to be an important part of making investment decisions. Click through to gauge the role of losses, timing and selection of investments.

    Saved on 03-18-2020 - Remove
  • Handling a 'Wrong Information' Form From the IRS

    Have you ever received a CP2000 notice? It's an alert from the IRS that data received from banks, employers or other third parties doesn't match your tax return. Click through to find out how to handle this notice.

    Saved on 03-14-2020 - Remove
  • Tax Deductions: What's New?

    Tax law changes in the Tax Cuts and Jobs Act affect itemized deductions because the standard deduction was nearly doubled for most taxpayers. Click through to see if you should consider itemizing anyway.

    Saved on 08-14-2020 - Remove
  • Is This Your Situation: Interpreting Your Financials

    Despite your best efforts, you do not understand what financials really say about your business. Click through to learn how QuickBooks can help you grasp your debits and credits and take charge of your data and financial reports.

    Saved on 08-14-2020 - Remove
  • QDIAs for Retirement Plans: Does Your Company Need Them?

    Having a qualified default investment alternative relieves you and plan fiduciaries of certain liabilities. Click through to enhance 401(k) plans by providing investments with potential for long-term growth regardless of how engaged employees are.

    Saved on 03-16-2020 - Remove
  • How OSHA Can Affect Your Business

    No matter what kind of business you run, you have to know something about OSHA, which oversees workplace safety. Click through for some insights into how OSHA works and why you need to be familiar with its rules.

    Saved on 08-17-2020 - Remove
  • Steps to Choosing a Charity

    These days, you want to donate with your head as well as your heart, making sure a charity is legitimate, well-run and aligned with your values. Click through to learn how to effectively make a charity a worthwhile part of your legacy.

    Saved on 08-17-2020 - Remove
  • Internal Controls

    When proper, consistent procedures are not in place, employees can learn to manipulate the accounting system to their benefit. Whether they take money from the company or their mistakes are undiscovered, the end result can greatly impact your company's management discussions, financial reports and tax filings. Click through to find information on how you can implement proper internal controls to protect you and your business.

    Saved on 07-18-2020 - Remove
  • Freelancing? Know the Tax Rules

    Many people make their living in the gig economy, getting most or all of their income from freelance assignments. Click through for an introduction to the tax provisions that apply to these independent workers.

    Saved on 07-18-2020 - Remove
  • Depreciation: Is It Right for You?

    Depreciation is a deduction from income tax that lets you recover the cost of property. Click through to see how the IRS allows for the wear and tear, deterioration or even obsolescence of items.

    Saved on 08-17-2020 - Remove
  • How to Challenge Property Taxes

    One thing all homeowners can agree on: Complaining about property taxes is one of their favorite pastimes. However, you may be able to actually do something about high taxes. Click through to learn how to appeal your property taxes.

    Saved on 08-17-2020 - Remove
  • What to Do When Debts Survive Death

    People die, but their debts survive them, and in the weeks after someone dies, the bills will keep rolling in. How are these handled? Click through for some guidelines in making sure the decedent's financial obligations are fulfilled.

    Saved on 08-17-2020 - Remove
  • With Little Fanfare, IRS Releases Radically New Form W-4

    Although the new Form W-4 differs greatly from the previous version, it is almost the same as the draft version released earlier in 2019. Click through for a quick rundown of how the form works and where you can go for more details.

    Saved on 08-25-2020 - Remove
  • Backup Withholding: Know the Story

    You may find that money you're owed is subject to substantial withholding if certain numbers aren't provided in a timely fashion. Click through to learn how to avoid this or get out of it if it's already happened.

    Saved on 08-14-2020 - Remove
  • Alternative Minimum Tax -- What's It Like Today?

    The controversial alternative minimum tax has been around for years, even though politicians argue about it. Has it changed recently? Click through to see how the AMT may apply to you as we approach the next tax season.

    Saved on 03-18-2020 - Remove
  • What Is a Home Warranty?

    You can think of a home warranty as a home protection plan, and it is especially useful for a first-time homebuyer with no experience maintaining a home. Click through to see how it works and who will pay for it.

    Saved on 07-19-2020 - Remove
  • Can You Challenge Your Property Taxes?

    From coast to coast, it can be one of the most contentious local issues: your property tax bill. Often, homeowners believe it's etched in stone, but you may have some recourse. Click through for some help in challenging your property tax bill.

    Saved on 07-18-2020 - Remove
  • 35 Year Anniversary at EBK!

    EBK celebrates it's 35 years in business.

    Saved on 07-02-2020 - Remove
  • The IRS Looks Into Executive Compliance

    The IRS is taking a special look at the tax situation surrounding executive compensation. This may sound simple, but there are a lot of complexities you need to know about. Click through for an introduction to the key issues.

    Saved on 07-19-2020 - Remove
  • Social Security: Is It Time to Tap Into It?

    You can start taking Social Security payments as early as age 62, but you get a bigger monthly payout if you can wait. What's the optimal time? Click through to learn the basics of Social Security calculations.

    Saved on 07-18-2020 - Remove
  • Is a 1031 Exchange Right for You?

    A properly structured Section 1031 exchange allows an investor to sell a property, reinvest the proceeds in a new property and defer the tax on the potential gain from the sale. Click through to see the impact of tax reform on 1031 exchanges.

    Saved on 07-18-2020 - Remove
  • Tax Credit Offsets Retirement Plan Costs

    Thinking of starting a pension plan for your small-business employees? The federal government may help with the costs for companies that meet certain criteria. Click through to learn how to claim a tax credit for the startup costs.

    Saved on 08-15-2020 - Remove
  • 5 Tips for Grossing Up Severance Pay

    As a token of your appreciation to a separated employee, you may decide to pay for the taxes associated with his or her severance package. Click through for tips on this process, known as a "gross-up."

    Saved on 07-02-2020 - Remove
  • Pass-Through Entities and the 20 Percent Tax Break

    Much talk has been made of the new 20 percent tax deduction for pass-through entities but, as with most tax laws, it can get very complicated very quickly. Click through to learn more, and find out if you're entitled to the break!

    Saved on 07-18-2020 - Remove
  • ACA Affordability Threshold to Rise in 2019

    One of the main requirements of the Affordable Care Act's employer mandate is that health coverage must be affordable, based on annual standards set by the IRS. Click through for the details on the 2019 increase for one of those standards.

    Saved on 08-15-2020 - Remove
  • Is This Your Situation: Understanding the Gift Tax

    Did you know that if you give a gift, you could be responsible for paying a gift tax? It isn’t quite that simple, so it’s best to learn as much as you can about this tax. Click through to learn more about the gift tax and how it may apply to you.

    Saved on 07-04-2020 - Remove
  • Know the FMLA Notice Requirements

    To receive FMLA-protected leave, eligible employees must provide adequate notice to their employers. If they don't, the leave could be delayed or denied. Click through for details on FMLA notice requirements.

    Saved on 08-17-2020 - Remove
  • How You Can Use a Deferred Annuity

    It's a time-tested tool for retirement planning, but it's not for everyone. The key is knowing how a deferred annuity works, and whether it's right for you. Click through for an overview, and the inside scoop on how to choose.

    Saved on 07-19-2020 - Remove
  • IRS Warnings About Payroll Scams

    Human resources and payroll departments lacking strong internal controls are vulnerable to cybercrimes. This is not just a tax-season problem. Click through for IRS warnings on HR and payroll tax scams even as the 2020 tax season is on the horizon.

    Saved on 08-17-2020 - Remove
  • How to Handle Disagreements with the IRS

    Even if you're mired in the tax audit process, the IRS doesn't have all the power. You have options when faced with disagreements with your IRS examiner. Click through for a look into the process and your options.

    Saved on 08-16-2020 - Remove
  • Can I Modify an Employee's Time Sheet?

    It's common practice for managers and supervisors to adjust employees' time sheets to address incorrect or missing information — but is this legal? Click through to find out what the law says about you making this change.

    Saved on 01-14-2021 - Remove
  • Choosing a Business Structure—Sole Proprietorship or Partnership

    When starting a business, one of the most basic decisions you have to make is how to structure your business. The choices are wide ranging, and each one has advantages and drawbacks. Click through for an introduction to sole proprietorships and partnerships.

    Saved on 07-05-2020 - Remove
  • The Adaptable SEP IRA: How It Can Work for You

    There are a lot of options for company-sponsored retirement plans, and for many, the SEP IRA may be the right choice. Click through for more details on how this plan works and why it may be just what your employees want.

    Saved on 08-18-2020 - Remove
  • Wage Garnishments: What You Need to Do

    It's a hassle for any payroll department: getting an official letter that you have to withhold part of an employee's salary, as ordered by a court. Click through to learn what you have to do when wages are being garnished.

    Saved on 08-18-2020 - Remove
  • How Long Since You've Reviewed Your Estate Plan?

    An estate plan is not a one-time event. It's a living series of documents you must continue to address throughout your life. Click through for some guidance on what events may trigger a need for a change.

    Saved on 08-18-2020 - Remove
  • What to Take Out of Employees' Paychecks

    Employers are ultimately responsible for withholding taxes from their employees' wages. Therefore, it's important to understand which payroll taxes your employees should pay. Click through to discover the many different types of employee payroll taxes.

    Saved on 08-18-2020 - Remove
  • Check Your Withholding Now

    With so many recent changes, two-income families and people who work multiple jobs should check their withholding amount. Click through to see if you're withholding the right amount of tax from your paycheck.

    Saved on 08-18-2020 - Remove
  • Passwords: Making Them Hard to Crack

    Consider all the passwords you use, in your personal and business lives. Passwords secure all the resources on your computer and phone -- your email and important online accounts. Click through to learn how to choose strong passwords.

    Saved on 08-18-2020 - Remove
  • Is This Your Situation: You Don't Understand Your Own Financials

    You may be reluctant to admit that you don't understand your financials, but it is essential to wrap your mind around them if you want to grow your business. Click through for some tips on taking charge of the essentials.

    Saved on 08-18-2020 - Remove
  • Headcount Reporting: Why You Must Do It

    Headcount reports provide critical data on each of your employees, and they're essential for a variety of laws and regulations. Click through to see why headcount reporting is so important and how to perform the task.

    Saved on 08-18-2020 - Remove
  • 5 Things to Consider About Changing Payday

    Your current pay schedule isn't cutting it anymore, and you're leaning toward changing it. But the FLSA, state rules and other issues can complicate any decision. Click through for five things to consider before you make the switch.

    Saved on 07-06-2020 - Remove
  • When Employees Cross State Lines

    Even small companies can find themselves with employees who have to commute across state borders to work. This can make payroll difficult. Click through for an introduction to the complex tax rules.

    Saved on 07-19-2020 - Remove
  • Government Issues Important Changes to HUBZone Program

    The government has made changes to the Historically Underutilized Business Zone program, and as a result, more companies may be able to take advantage of it. Click through for an introduction to this useful but little-known program.

    Saved on 07-19-2020 - Remove
  • The ADA: How Does It Affect Your Business?

    The Americans with Disabilities Act is widely discussed and cited, but many employers don't know exactly what their responsibilities are. Click through for an introduction to this important and far-reaching legislation.

    Saved on 03-20-2020 - Remove
  • Taking Over the Finances of an Elderly Person

    Physical health isn't the only thing at risk of deteriorating as we age: Mental health may decline as well, and along with it, the ability to manage money. Click through for tips on how to manage finances to protect your elderly loved one from missteps.

    Saved on 08-23-2020 - Remove
  • Which Employees Are Exempt From Tax Withholding?

    Most employees are subject to tax withholding. Those exempt from withholding are in the minority -- but you should still know who they are. Click through for a list of employees who are excluded from tax withholding -- and why.

    Saved on 03-21-2020 - Remove
  • What To Know About the Qualified Business Income Deduction

    It's a much-talked-about and misunderstood provision of the tax reform law passed in 2017, and business owners are still grappling with it. Click through to make sure you understand this beneficial but complex tax provision.

    Saved on 07-08-2020 - Remove
  • Avoid These Top Trust Problems

    You want to feel secure that any property placed in a trust is held according to its terms and for the benefit of the named party. Click through to avoid mistakes that can interfere and invalidate that simple transfer of property.

    Saved on 08-23-2020 - Remove
  • Are Chatbots the Next Big Thing?

    Ten years ago, every company needed a website, and five years ago each one needed an app. What's the next big thing? Click through for details to help you decide whether to embrace messaging with artificial intelligence and chatbots.

    Saved on 07-19-2020 - Remove
  • Steps for Reconciling IRS Form 941 to Payroll

    Form 941 is a crucial tool for ensuring your payroll data is accurately reported to the government and for balancing payroll in general. Click through for insight into reconciling Form 941 with your payroll on a quarterly and a year-end basis.

    Saved on 07-19-2020 - Remove
  • The EITC: Helpful But Misunderstood

    The earned income tax credit gives an enormous helping hand to working families, but many wrongly assume it doesn't apply to them. Click through for insights into the powerful EITC to learn if you can take advantage of it.

    Saved on 10-31-2020 - Remove
  • Now Is the Time To Revisit Your Estate Plan

    The COVID-19 pandemic has caused many changes in our personal and business lives — and upended the economy. For some, this makes it a good time to review their estate plan. Click through for a list of estate planning tasks you may want to address.

    Saved on 08-21-2020 - Remove
  • Give Your Taxes Your Attention 365 Days a Year

    Giving your taxes your full attention just once a year isn’t the best business strategy -- especially with so many changes in the past year. Click through to learn the best ways to evaluate the impact of taxes throughout the year.

    Saved on 08-24-2020 - Remove
  • Employers: Know Your Tax Forms

    Employers must report their federal employment taxes to the IRS on the appropriate tax forms. It's important to know which forms apply to your business. Click through for a list of required forms.

    Saved on 03-27-2020 - Remove
  • Do You Know Your Lookback Period for Payroll Taxes?

    Your lookback period dictates your federal payroll tax deposit schedule, so "lookback period" is terminology that you should know. Click through to learn more about how lookback periods work, and how they affect payroll tax deposits.

    Saved on 03-28-2020 - Remove
  • Special Report: Exempt Versus Nonexempt Employees

    Special Report: Exempt Versus Nonexempt Employees

    Saved on 03-25-2020 - Remove
  • The Ins and Outs of Form 1099

    A 1099 tax form is a record that someone was paid non-salary income. It comes in multiple versions, and there's a good chance you'll be dealing with one or more of them each tax season. Click through for a rundown of how they work.

    Saved on 07-13-2020 - Remove
  • What Is Tax-Loss Harvesting?

    Tax-loss harvesting is about minimizing capital gains taxes on your investment portfolio. With care, you can keep more money in your account rather than giving it to the IRS. Click through to see how several strategies work.

    Saved on 07-11-2020 - Remove
  • Beyond Money: The Softer Side of M&A

    When two companies join together, whether it's a merger between equals or the purchase of a smaller entity, it's not just about the money. Click through for some insights into the softer side of M&A.

    Saved on 08-27-2020 - Remove
  • What's the Deal on Estimated Taxes?

    If you're self-employed or have income other than a salary, you may need to pay estimated taxes to square your tax bill throughout the year. Click through to see whether you need to make estimated tax payments every quarter.

    Saved on 08-27-2020 - Remove
  • What Is a Deferred Annuity -- and How Does It Work?

    An annuity contract that delays payments of income until you elect to receive the money is a deferred annuity. Click through to understand how it works and the important role it can play in estate planning.

    Saved on 08-27-2020 - Remove
  • Small Business and Insurance: Know the Score

    There is no lack of options when it comes to insurance for your small business. Not every business needs every kind, but you should know what's available. Click through to get started thinking about business insurance.

    Saved on 08-27-2020 - Remove
  • Is This Your Situation: You Don't Know How to Figure Out Your Breakeven Point

    As a business owner, it is essential to know how much you need to sell to cover all of your costs. Click through to learn how to perform this important task using QuickBooks.

    Saved on 07-12-2020 - Remove
  • What Is Head of Household Filing?

    The head of household tax filing status is one of the most advantageous to the tax filer, but you have to meet stringent requirements. Click through to learn the details on this oft-misunderstood filing status.

    Saved on 07-12-2020 - Remove
  • Home Office Deductions: A Refresher on the Rules

    Many people think they can take a home office deduction, but that isn't always the case. At-home workers need to pay particular attention to the complex rules. Click through to see who can take this deduction and under what circumstances.

    Saved on 11-02-2020 - Remove
  • Is This Your Situation: Looking for Financial Reporting in QuickBooks Online

    Financial reports from QuickBooks can help you make important business decisions. Should I buy that building? Should I expand my product line? Click through to learn where some of the most common — and critical — reports are located in QuickBooks Online.

    Saved on 03-31-2020 - Remove
  • Max Out Your Retirement Plan Contributions

    How much can you contribute to IRA and 401(k) plans? The answer is "it depends." Click through to understand retirement plan limits and the special "catch-up" provisions that can help older contributors.

    Saved on 11-02-2020 - Remove
  • The Top Financial Planning Mistakes

    Stay clear of economic difficulties by avoiding the most common financial mistakes individuals and families tend to make. Click through for an introduction to starting on the right financial path and staying there.

    Saved on 03-29-2020 - Remove
  • Is This Your Situation: Upping Your Game as a QB Online User

    If you’ve been using QB Online for a long time, it’s good to step back and evaluate how you use your software. Do you follow any best practices? Click through to learn more about six QuickBooks Online tips that you can start using today.

    Saved on 03-29-2020 - Remove
  • The Ins and Outs of the Earned Income Tax Credit for 2018

    The EITC can be a powerful hand up for working people with low incomes, but the details are often misunderstood. Click through for the provisions of this important credit and a chart with the latest numbers.

    Saved on 07-16-2020 - Remove
  • Special Report: Small-Business Hiring and Tax Credits

    In today's economy, you'll likely be pressured to offer higher wages and more benefits in order to attract and retain employees. Fortunately, there are some great tax credits to help you. Click through to learn which ones might be applicable to your business.

    Saved on 07-16-2020 - Remove
  • Is This Your Situation: Worried About Your Withholding

    The IRS has been sending out a stream of notices advising employees to check their tax withholding in the wake of the tax reform package passed late in 2017. Click through for some insights into what you should be doing.

    Saved on 07-16-2020 - Remove
  • The Final Responsibility: Being an Executor

    It's one of the most important tasks you can carry out for a friend or family member: carry out their last wishes after they're gone. But you don't have to do it alone. Click through for a review of what you need to do as an executor.

    Saved on 07-16-2020 - Remove
  • How Elder Mediation Can Save Families

    Tempers can rise and old grievances resurface as adult siblings face their elderly parents' caregiving needs and the many problems that come with it. Click through to see how mediation can help you avoid long-lasting feuds.

    Saved on 07-16-2020 - Remove
  • Baby on the Way: Knowing All About Maternity and Paternity Leave

    There's a good chance you'll eventually have to deal with some kind of parental leave in your office, whether it involves an employee or employee spouse pregnancy, or an adoption. Click through for some insights in creating a policy.

    Saved on 07-23-2020 - Remove
  • Effects of Reciprocal Agreements on Your Business

    Do you have employees who live in one state but work in another? If so, they probably are covered by a state reciprocal agreement, which eliminates dual taxation. Click through to learn more about tax reciprocal agreements.

    Saved on 07-23-2020 - Remove
  • Bitcoin: What's Happening?

    Bitcoin, the digital currency, has been in the news a lot recently. What's it all about and how does it work? Is it something you should invest in? Click through for a quick review about this controversial financial product.

    Saved on 07-23-2020 - Remove
  • Moving and Mileage: Roundup of TCJA Changes

    The new year brings a suspension of moving expenses, but higher depreciation limits for cars, trucks and vans. Click through for IRS information on tax reform changes to expenses for moving, mileage and travel.

    Saved on 07-23-2020 - Remove
  • Learn About an IRS Payment Plan

    Not everyone gets a refund. Sometimes you owe money to the IRS — and it could be a lot. Fortunately, the IRS offers options. Click through to learn about the IRS payment plans for individuals.

    Saved on 09-18-2020 - Remove
  • Tip-based Businesses: Know the Rules

    If you're running a business where gratuities are a major part of your employees' pay, you need to know the regulations. Click Full Article below for a quick introduction to make sure you and your staff are compliant.

    Saved on 09-18-2020 - Remove
  • The State Unemployment Tax: Know the Story

    The State Unemployment Tax Act is an important and complicated law that affects virtually every employer, and there are variations from state to state. Click through for an introduction to key SUTA provisions.

    Saved on 09-18-2020 - Remove
  • Inheriting an IRA: How to Handle It

    IRAs are great tools for retirement planning, but are not necessarily well-suited for leaving money to heirs. Click through for an introduction to the complex rules and strategies surrounding an inherited IRA.

    Saved on 09-18-2020 - Remove
  • Depreciation: How Does It Work?

    Depreciation is a tax deduction allowing the recovery of asset costs. You can get a tax break from depreciation, but the rules are complicated. Click through for an introduction to the tax and accounting strategies surrounding it.

    Saved on 09-27-2020 - Remove
  • The SBA EIDL and PPP Loans and Their Tax Implications

    The Small Business Administration has refreshed an old loan program and launched a new one for pandemic-affected businesses—but there are a lot of complexities. Click through for the inside story, and the important tax implications.

    Saved on 09-29-2020 - Remove
  • Pandemic Puts the CIO Upfront

    Companies trying to find new ways to operate in the COVID-19 pandemic have been forced to rely ever more heavily on their chief information officers. And that won't change even after the initial crisis passes.

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  • How to Handle COVID-19-Related Layoffs

    It's a double hit: The new coronavirus has led to the enforced shuttering of many businesses, and the resulting market plummet has led to major retrenchment elsewhere. Click through for some help in managing layoffs at your company in these extraordinary times.

    Saved on 10-08-2020 - Remove
  • Family Member Care and the IRS

    Do you have a private nurse taking care of a parent in your home? You don't only have a health issue, you also have a tax issue. Click through to be on top of the additional tax responsibilities that come with home help.

    Saved on 10-03-2020 - Remove
  • A Business Bankruptcy: Helpful but Complex

    Starting and running a business is hard, and there's no guarantee of long-term success. Sometimes, a bankruptcy is the only exit plan. Click through for an introduction to the key rules of business bankruptcy.

    Saved on 10-05-2020 - Remove
  • Pandemic Planning: Supply Chain and Cash Flow

    It may be years before we realize the extent of the business changes wrought by COVID-19 and the associated market crises. But it's not too early to figure out how to manage them. Click through for key crisis-management strategies.

    Saved on 10-14-2020 - Remove
  • CDC Gives Guidance for Reopening Businesses

    While stringent closing rules are still in place, the CDC has started to give guidance for reopening certain businesses under certain situations. Click through to get started thinking about how your business may be able to reopen.

    Saved on 10-15-2020 - Remove
  • What You Need to Know About Leadership

    To be effective, today's business leaders need to think about tomorrow's landscape. How can leadership respond to change? Click through for important ways leaders can be more strategic about the future.

    Saved on 10-15-2020 - Remove
  • How to Leave Your Worldly Goods

    Where will you leave your assets when you're gone? Sometimes it seems obvious, but you still have a lot of choices. Click through for some thoughts on who your beneficiaries should be and why you need to consider your choices carefully.

    Saved on 10-22-2020 - Remove
  • IRS Announces Inflation-Adjusted HSA Numbers for 2021

    The IRS is making modest inflation-adjusted changes to Health Savings Accounts for calendar year 2021. Click through for the full details on the changes, and a brief review of HSA provisions.

    Saved on 10-29-2020 - Remove
  • CARES Act Adds Flexibility to Net Operating Losses

    The Internal Revenue Service has issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses. Click through to take advantage of a six-month extension to file on carrybacks.

    Saved on 10-26-2020 - Remove
  • Certain Employers Get Break on Form I-9

    The many employers that have shut down office operations during the pandemic may be concerned about Form I-9 requirements. Click through to read about the temporary regularly waivers the DHS is granting.

    Saved on 10-27-2020 - Remove
  • Stopping Identity Theft: The IRS Way

    Tax season is never fun, but when it's compounded with identity theft, it's even worse. Click through to learn how to guard yourself now, so your filing goes smoothly.

    Saved on 10-30-2020 - Remove
  • 5 Ways to Lower Your SUTA Tax Rate

    An employer’s SUTA tax rate is susceptible to fluctuation. If yours is escalating, contrary to popular belief, you actually might be able to reduce it! Click through for five strategies to curb your SUTA tax rate.

    Saved on 10-30-2020 - Remove
  • IRS Gives Break on Flexible Spending Plans

    The IRS has issued new guidance to grant increased flexibility on 125 cafeteria plans, health flexible spending arrangements and dependent care assistance programs. Click through to learn how to take advantage of the new rules.

    Saved on 12-07-2020 - Remove
  • When Identity Theft Hits Your Taxes

    Tax-related identity theft occurs when someone uses your stolen personal information to claim a fraudulent refund. It's an especially virulent kind of identity theft. Click through to understand how it happens and what you can do.

    Saved on 11-18-2020 - Remove
  • A Sales-Tax Primer for Pandemic-Affected Businesses

    Many businesses have enhanced their online presence as a result of the COVID-19 pandemic. These businesses need to be aware of the many challenges associated with collecting sales tax on internet sales. Click through to learn how to transition smoothly to online sales.

    Saved on 11-15-2020 - Remove
  • How the Net Investment Tax Works

    The net investment tax hits high earners with significant investment income. Calculating it can be complex, and the rules are subtle. Click through to see how it works and whether it will take a bite out of your finances.

    Saved on 11-08-2020 - Remove
  • Using Zoom Meetings for Sales Calls

    Sales reps like getting on the road to personally connect with their customers — but that's not going to be possible for a while. Welcome to the age of the virtual meeting. Click through for tips on reaching out with Zoom.

    Saved on 11-09-2020 - Remove
  • Abusive Tax Shelters: Know the Score

    No one likes paying taxes, and we look for ways to minimize our tax bills. But if you're too aggressive, you can step over the line from tax avoidance to tax evasion. Click through to learn the difference.

    Saved on 11-13-2020 - Remove
  • How to Handle Supplemental Wages

    Supplemental wages do not qualify as regular income and are subject to special withholding rules. Click through for an introduction to what items fit into this group, and how they should be taxed.

    Saved on 11-13-2020 - Remove
  • Beware the Taxes of Self-Employment

    You're self-employed if you're in business for yourself -- including a part-time business. That means you're also your own tax manager! Click through for a brief run-through of your tax obligations.

    Saved on 11-13-2020 - Remove
  • EBK Announcement!

    Follow us on social media!

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  • What's the Story on the Employee Retention Credit?

    The Treasury Department and the IRS have launched the Employee Retention Credit to keep employees on the payroll. Click through to get 50% of up to $10,000 if your business has been impacted by COVID-19.

    Saved on 11-13-2020 - Remove
  • Hope You Have a Great Memorial Day Weekend!

    In honor of Memorial Day, our offices will be closed. We're taking some time to honor all who serve and have served our country this Memorial Day. Click through to learn more.

    Saved on 11-17-2020 - Remove
  • Fixed-Rate Versus Adjustable-Rate Mortgages: Pros and Cons

    Home mortgage loans come in two flavors: fixed rate and adjustable rate. Which is right for you? It's not always an easy answer. Click through to see the pros and cons, which are based on costs and your long-term plans.

    Saved on 11-17-2020 - Remove
  • CARES Act Grants Breaks on Some Student Loans

    The CARES Act contains an important but little-known provision that grants a six-month relief period for most student borrowers. Click through to see how this program works and which students are eligible to take advantage of it.

    Saved on 11-17-2020 - Remove
  • Personal Bankruptcy: Making Hard Decisions

    At a certain point, someone's financial situation may become so dire that bankruptcy is the only option. But although the implications are serious and long lasting, it doesn't have to be the end of the world. Click through to learn how bankruptcy can lead to a fresh start.

    Saved on 11-17-2020 - Remove
  • Tax Credits on Their Way Out

    A number of tax credits and incentives are set to expire at the end of 2020 — although it is possible some may be extended. Click through for a list of those that, at least for now, are set to expire in the near future.

    Saved on 11-17-2020 - Remove
  • Getting the Most Out of Being Online

    Now that we're all stuck in our homes for the duration of the pandemic, we may find ourselves missing human company. Click through for some suggestions about various apps that can be the next best thing.

    Saved on 11-17-2020 - Remove
  • PPP Loans: We Answer Your Questions

    The Paycheck Protection Program, part of the CARES Act, is in full swing, but there are still a lot of questions about this powerful, but confusing, program. Click through for the latest info to see if and how your business can benefit.

    Saved on 11-17-2020 - Remove
  • Happy Independence Day! Wishing You a Sparkling 4th of July

    Wishing you a safe, fun and happy 4th of July! Freedom has its life in the hearts, actions and spirit of the American people. Click through for a special Independence Day greeting.

    Saved on 11-17-2020 - Remove
  • Property Taxes: How Are They Calculated?

    Understanding how property taxes are calculated is critical to making sure the appropriate rate is charged. Click through to determine whether you're paying the lowest taxes possible and maximizing your returns.

    Saved on 11-17-2020 - Remove
  • Dollar-Cost Averaging: Great for Crisis Investing

    Even with a plunging market, there is a silver lining for any investor who has some money to put away in a retirement account like a 401(k). Click through to learn about the power of dollar-cost averaging and how it can work for you.

    Saved on 12-11-2020 - Remove
  • Paycheck Protection Program Gets One-Month Reprieve

    The Paycheck Protection Program was slated to end on June 30, but a last-minute bill in Congress extended it until Aug. 8. Click through to find out what this means, and if any other changes are on the horizon.

    Saved on 11-26-2020 - Remove
  • Payroll Tax Liabilities: Know the Details

    A paycheck can be more complicated than it seems at first. And whether you have one employee or 1,000, you need to know how payroll taxes work. Click through for a brief review, so you can grasp the basics.

    Saved on 11-26-2020 - Remove
  • Reconstructing Records After a Disaster

    Often, the government grants special tax breaks after a disaster. But how can you prove you were affected? Click through for tips on reconstructing records and proving your eligibility, so you can get the relief you're entitled to.

    Saved on 11-26-2020 - Remove
  • New OSHA Guidance on Tracking COVID-19 at Work

    Did your employees who have COVID-19 contract it at work? The question is not academic — it has serious legal implications. Click through to check OSHA's new guidance for uncovering the infection sources.

    Saved on 11-26-2020 - Remove
  • Your Guide to Local Income Taxes

    With more and more U.S. localities charging income taxes, it's in every employer's best interest to understand how these taxes work. It's more complicated than you may think. Click through for an intro to local income taxes.

    Saved on 11-26-2020 - Remove
  • Child and Dependent Care Credit

    You may be able to claim child and dependent care credit, which can put a lot of extra money into your pocket. But the rules can be complicated. Click through to help determine whether you might be eligible.

    Saved on 12-16-2020 - Remove
  • Gather All Your Papers for Taxes

    Don't find yourself frantically searching for information you need to file your tax return at the last minute. Click through to reduce filing difficulties and possibly your tax bill by knowing what documents to have at your fingertips.

    Saved on 12-16-2020 - Remove
  • Social Security Administration Announces Changes for 2019

    As is usual this time of year, the SSA has published critical information on benefit changes and maximum taxable income. Click through to see the details, so you can consider how they will affect you.

    Saved on 12-16-2020 - Remove
  • 401(k) and IRA Contribution Limits Increase

    The IRS has announced cost of living adjustments for various pension plans for 2019. There are other retirement-related changes as well. Click through for the details, to learn how these changes may affect you.

    Saved on 12-16-2020 - Remove
Erickson, Brown & Kloster, P.C.
Erickson, Brown & Kloster P.C.
Phone: (719) 531-0445
4565 Hilton Parkway Suite 101
Colorado Springs, CO 80907
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