|
HelferBell, Here Are Your Articles for Wednesday, August 24, 2022
|
|
|
|
|
|
|
Saved Articles
-
The changes made by the Tax Cut and Jobs Act of 2017 affected law firms just like many other businesses. Click through for some special tax tips and to better understand the rules that affect law firms.
-
Many people work at home in the age of the telecommuter. Do you fall into that category? Have the rules changed? What are the limitations? Click through for an introduction to this valuable but complicated tax break.
-
The tax laws regarding household employees — like a nanny or housekeeper — can be fairly complex. Click through to make sure you're in compliance with IRS rules.
-
Life insurance is a good investment for your family, but how do you know when you have enough? Click through to see how much you really need to ensure your family will be financially stable in the future.
-
This has been one of the biggest years for tax changes in recent memory. The IRS is still issuing guidance, with more expected. Click through for a summary of the most significant changes that may affect you as April 15 approaches.
-
When you think about fighting fraud, you may consider hiring financial experts to help -- that's great, but it's not all! Click through to see why your first step should include everyday practices to discover whether your firm is experiencing fraud.
-
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.
-
Many people get Social Security, but not everyone manages it the same way. It can be confusing to sift through the choices, which have major implications. Click through for some thoughts on what your options are.
-
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.
-
If you want to ensure that your children are left with your home after you pass away, there are certain steps you need to take. Click through to learn the details.
-
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.
-
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.
-
Cost-of-living adjustments are affecting dollar limits for 401(k) plans, individual retirement accounts and other retirement plans. These changes affect both individuals and the businesses that manage company-sponsored plans. Click through to learn how the changes may affect you.
-
As 2019 drew to a close, the IRS issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for various purposes. Click through to see how the new rates may affect you.
-
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.
-
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.
-
Crises can bring out the best in many people — but perversely, they can also bring out the worst. Many scammers are trying to take advantage of the complex bailout provisions for individuals and businesses. Click through to learn how to avoid them.
-
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.
-
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.
-
Bonuses are one of the best ways to motivate employees. But to actually work, a bonus program must be thoughtfully designed. Click through to learn about characteristics of an effective program.
-
Have a hobby that's also a source of income? The line between business and hobby can be a thin one, and the rules are complex. Click through for some insights that will help you make sure that you're in compliance and that you're not missing any allowable deductions.
-
Business expenses are the cost of carrying on a trade or business. Sometimes, the IRS gives you a tax break for your expenses. Click through for an introduction to the complex world of business tax deductions.
-
We are often urged, with good reason, to make a will to help put our lives in order. It’s a responsible and worthwhile thing to do — but not the only thing. Click through to learn when a will is not the best route.
-
Placing your home in a trust has advantages, like avoiding probate court, but there are a lot of details to get through. Click through to help figure out if this is the right move for you and what it involves.
-
No one likes paying taxes, and we look for ways to minimize our tax bills. But if you're took aggressive, you can step over the line from tax avoidance to tax evasion. Click through to learn the difference.
-
Employees' W-4 forms show what they want withheld from their paychecks. It's their responsibility to complete the forms, but do you have to accept each form no matter what? Click through for some insights into your responsibilities.
-
Umbrella insurance is extra liability coverage if you're at risk of being sued for damages. Click through to learn how to protect yourself -- and your estate -- against libel, vandalism, slander and invasion of privacy.
-
Drawing up a will or trust allows you to designate where you want your assets to go when you pass away. Can trusts save estate taxes? Click through to compare the pros and cons of wills and trusts.
-
Cost-of-living adjustments are affecting dollar limits for 401(k) plans, individual retirement accounts and other retirement plans. These changes affect both individuals and the businesses that manage company-sponsored plans. Click through to learn how the changes may affect you.
-
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.
-
The Social Security Administration has released new numbers for those paying Social Security and those collecting it. Click through for the new maximum taxable earnings amount as well as COLA and other key adjustments.
-
A recent study showed that when 401(k) plans are offered, about 90 percent of all employees who have the option to contribute do so. There is, however, an important difference between pre-tax and after-tax contributions. Click through to learn about this key distinction.
-
Good tax planning is a year-round activity that requires knowing your options and keeping good records. Circumstances change. Even if you have used the standard deduction for the past several years, click through to learn why that may no longer be the right option for you.
-
The changes made by the Tax Cuts and Jobs Act of 2017 make itemizing deductions out of reach for most taxpayers. With good tax planning, however, taxpayers still may be able to itemize. Click through to learn about alternate-year itemizing and other strategies.
-
You've built a business, but you may not even know what it's worth. This can have serious implications, even if selling is not on the horizon. Click through to find out why a valuation is essential.
-
Identity theft of children's information is a very real and growing problem. You can help protect your child's identity by securing documents and understanding the new FERPA legislation. Click through to learn how to stay safe.
-
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.
-
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.
-
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.
-
The TCJA may have been passed nearly two years ago, but the IRS is still making regulatory changes to address its provisions. Click through for the latest information on the 100% additional first year depreciation deduction.
-
Know what tax information to keep and how long to keep it, to both avoid future hassles with the IRS and save on file cabinet space. Click through to learn the details of what the IRS may want to see in the event of an audit down the line.
-
Tax reform laws changed various expensing rules, as the IRS explained in guidance updated at the end of 2018. Click through to make sure your business is in sync with the regs, so you're not leaving any money on the table.
-
The most common form of identity theft these days is synthetic identity theft. If that sounds ominous to you, you're right to be scared. Click through to find out about this new twist on fraud and how to spot it.
-
You can divide bank and brokerage accounts among multiple heirs. But how do you divide a watch inherited from your great-grandfather? Or the earrings your mother received when she turned 21? Click through for some inheritance advice.
-
You can get dizzy trying to figure out the state of tax credits, and energy credits in particular, as the government keeps letting them expire, only to revive them at the last minute. Click through for the latest news.
-
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.
-
If your business operates in two or more taxing jurisdictions, the Supreme Court’s decision in South Dakota v. Wayfair applies to you. Click through to learn the basics of collecting and reporting sales tax today.
-
Who says end-of-the-year giving has to be boring? Helfer & Company, LLC is proud to sponsor the Players Philanthropy Fund’s 2nd Annual Beltway Boards + Brews celebrity cornhole tournament on Monday, October 22 at the Baltimore Museum of Industry.
-
Often misunderstood, a like-kind exchange can be a powerful tool in managing real estate holdings. The key is knowing the details. Click through to learn more about this useful but tricky tool, and how it may help you.
-
Just as running a successful business takes planning and disciplined effort, effective business valuation requires organization and attention to detail. Click through to learn how to get started.
-
Did you know that if you give a gift, you are 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.
-
Sadly, there aren't many aspects of life, including a small business, where we don't have to worry about fraud at all. Click through to learn some ways you can prevent fraud in your company.
-
A trust lets you distribute your assets to others, while minimizing estate, income and gift taxes. Trusts have scores of uses for a variety of families. Click through for a basic primer on this essential component of estate planning.
-
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.
-
Businesses are trying to get more creative about how to offer health care while keeping costs down. Self-funded may be a solution. Click through for a quick intro to the advantages to help you decide if it's right for you.
-
With little fanfare, the IRS has issued a new draft version of Form W-4, used for federal tax withholding. It will likely change before a final version is issued for 2019, but meanwhile, companies can get a sense of what kinds of changes may be coming.
-
It can be difficult to think about what we need as we age. Although your children may ensure that your physical and emotional needs are being met, they shouldn’t have to worry about the financial implications. Click through to see whether long-term care insurance is an option for you.
-
Just as running a successful business takes planning and disciplined effort, effective business valuation requires organization and attention to detail. Click through to learn how to get started.
-
You have employees, but you also may have independent contractors. Who are they and how do they affect your nonprofit organization? Click through to learn the difference and understand how to work with contractors.
-
GoFundMe and similar sites have changed the way we think about charitable giving. But that doesn't mean the IRS has modified its rules. Click through for the facts about online donation sites and tax deductions.
-
Internal controls are essential to a properly run construction company, and it doesn't matter what size business you have. Click through for an introduction to internal controls and a discussion of why every company needs them.
-
The IRS has issued some important new guidance on capital gains and property basis, especially as the rules apply to homes. There's a chance here to save on taxes. Click through for an intro to this key guidance.
-
If you're like the great majority of students (or their parents), you might not have read all the fine print regarding how your student loans are structured or how repayment works. Click through to understand the inner workings of student loans.
-
Small-business owners inevitably ask whether they should own or lease the building housing their business. Click through to read how small businesses are making this important decision.
-
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.
-
IRAs have many advantages, including legal protection from creditors when the owner files for bankruptcy. But there's a chink in the armor. Click through to learn about how the situation may be different with inherited IRAs.
-
Basis seems like a simple concept, but as with so many tax issues, it can become complicated quickly. This is especially true after recent tax reform. Click through for the story of what has, and has not, changed.
-
Is it possible to protect your estate and still qualify for Medicaid? Yes it is, with the right kind of trusts. Click through to learn about the different kinds of Medicaid trusts and how they might be able to help you.
-
GoFundMe and similar sites have changed the way we think about charitable giving. But that doesn't mean the IRS has modified its rules. Click through for the facts about online donation sites and tax deductions.
-
The Internal Revenue Service has issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
-
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.
-
The growth of popularity in IRAs in past decades has meant there is going to be a lot of heirs inheriting them over the years, and a lot of people putting them into their estate plans. Click through to learn how inherited IRAs are treated when inherited.
-
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.
-
You'll always know where the fun's going on with our interactive local events calendar featuring social sharing, images, videos and ticket links. Click through to see what's happening or to add your own local events.
-
Do you own an investment property but want to sell it and buy another? You can neatly avoid taxes, thanks to a 1031 exchange. Click through to learn how this useful rule can save you money.
-
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.
-
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.
-
Who do you see as being your best option as the executor for your will? Perhaps you are considering one of your children, but what if you don’t think they are up for the job? Click through to see what other choices might work.
-
Nightmare stories abound when it comes to putting an aging parent or spouse in a nursing home. You may be worried about protecting your assets, and rightly so. Click through to learn how to avoid problems with care facilities.
-
There is not a single person on the planet who looks forward to dealing with the IRS. If you're dealing with specific problems, your dread could be compounded. Click through to take a closer look at the steps you should take when you've been contacted by the IRS.
-
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.
-
Technology has enhanced the workplace and allows us to communicate more effectively and complete more tasks in a shorter amount of time. Click through to learn how managing your technology the right way can lead to better efficiency.
-
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.
-
You hate writing checks to the Internal Revenue Service on April 15. But what can you do now to trim this year’s tax bill? Click through for some strategies to limit your tax obligations and reduce the chance of an unpleasant surprise.
-
Having an estate plan is essential for the future but choosing the path might be difficult. Where do you begin? Click through for tips that will help you take the important first steps toward a comprehensive estate plan.
-
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.
-
Sure as the night follows the day, come tax season, so follow tax scams. Click through for some information on how to avoid the three major categories: fraudulent returns, phones scams and phishing.
-
Yes, the tax code gives you some deductions for medical and dental expenses, but the rules can get complicated. Click through for an intro to this key deduction, to help figure out where the IRS draws the line.
-
The Family and Medical Leave Act was designed to help your employees take the time necessary for qualifying medical and family reasons. Click through to learn more about how this complex law works.
-
Today's savvy employees look for companies with retirement planning options like 401(k) plans. If you lack one, you'll miss out on the best employees. Click through to get started choosing a retirement plan for your company.
-
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!
-
Depending on the state of your small business, you may need to borrow money. But how do you know whether you’re ready to take this step? Click through to learn how you can make your loan process easier.
-
At what age should you start collecting Social Security benefits? This is an important question that requires more thought than simply making a knee-jerk response. Click through to get a full understanding.
-
Knowing how to withdraw your retirement funds in a tax-savvy way can be a challenge. You may have multiple sources for these funds. Click through to identify which funds you should access first and learn how to avoid costly traps.
-
Cost segregation is used to classify assets for federal tax purposes, and if used correctly, it can save your money. But the devil's in the details. Click through to learn more about making tax regulations work for you.
-
Unplugging from the noisy world of social media from time to time can help you clear your mind and enjoy the simpler things in life. Click through to learn how to disconnect and recharge.
-
You have the same homeowners policy that you had when you purchased your home a decade ago, but is it still working for you? Click through to learn whether it's time to make a change.
-
Board members are the fiduciaries who steer organizations toward a sustainable future by adopting sound, ethical and legal governance and financial management policies. Click through for an intro to this essential aspect of nonprofit management.
-
Are you thinking about buying a new Wi-Fi router or access point? If so, there are two things to add to your checklist. Click through to learn the details before making a purchase.
-
Do you care if the money you invest is actually doing some good in the world? If so, socially responsible investing may be for you. Click through to learn how to ensure that your money is not invested against your values.
-
You want to choose employee benefit offerings so you can help your workers save money while at the same time you strengthen their loyalty to your business. Click through to see how Section 125 plans can work with HSAs.
-
Everyone talks about credit scores, and how they can make a huge difference in your life -- with home purchases, for example. But what really affects the numbers? Click through for some steps to take now to get on the path to a better score.
-
How you tap your accounts can make a big difference in what you ultimately pay. Click through to get a better understanding of the tax effects of withdrawing money from retirement accounts.
-
You want to give deserving employees raises, to help ensure they stay with the company and to keep morale high. But how do you approach the task? Click through for insights into the process of deciding how much of a raise to give.
-
S corporations are a great solution for the right kinds of businesses. However, they come with strict salary rules for their owners. Click through for the basics on S-corps to make sure you're in compliance.
-
Basis seems like a simple concept, but as with so many tax issues, it can become complicated quickly. This is especially true after recent tax reform. Click through for the story of what has, and has not, changed.
-
You've worked hard, and your reward of retirement is approaching. Here are some last-minute tips for your permanent vacation. Click through for some retirement insights.
-
It's a little-known but very effective technique for leaving your money, and it doesn't require a lot of paperwork. Click through for the inside story on establishing payable-on-death accounts, why they might be right for you, and what the drawbacks are.
-
Blockchain is to bitcoin what the Internet is to e-mail. Even if you are not ready to use digital currency, it’s important to be familiar with it because it’s going to be around for the long term. Click through to get up to speed.
-
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.
-
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.
-
Did you know that if you give a gift, you are 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.
-
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.
-
We use our smartphones for so many things today that we take them for granted -- along with the security issues. How do you protect your personal information when you're on your phone? Click through to feel more trust in the apps you're using.
-
A recent study showed that when 401(k) plans are offered, about 90 percent of all employees who have the option to contribute do so. There is, however, an important difference between pre-tax and after-tax contributions. Click through to learn about this key distinction.
-
At what age should you start collecting Social Security benefits? This is an important question that requires more thought than simply making a knee-jerk response. Click through to get a full understanding.
-
The Treasury Department and the IRS have issued final regulations and additional guidance on the qualified business income (QBI) deduction. Click through for additional insights into this popular, but complex, tax provision.
-
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.
-
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.
-
One of the first decisions business owners make is how their business should be structured. The many choices can be overwhelming and a clear choice may not be evident. Click through to better understand the best business structure for you.
-
The year finished up with a bang as Congress enacted a number of changes that affect the retirement landscape and other tax situations. Click through for a summary of these changes and how they could affect you.
-
Did you move to the cloud quickly in the wake of the pandemic, because it was the only way to keep going? Click through to learn how to determine, now that some time has passed, what the overall impact has been for your business.
-
The year finished up with a bang as Congress enacted a number of changes that affect the retirement landscape and other tax situations. Click through for a summary of these changes and how they could affect you.
-
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.
-
From playing games with tax returns to fiddling with the company's books, fraud is a widespread and complicated problem. You need an expert to address fraud issues. Click through for an intro to fraud and how CPAs can help.
-
It's a complicated and controversial insurance product, and may not be for everyone. However, it's a good idea to see if long-term care insurance may be essential for you. Click through for the basics on long-term care coverage.
-
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.
-
The idea of launching a new business in the midst of the COVID-19 pandemic may seem like a radical thing to do. In the long run, however, it may help to keep your business viable well into the future. Click through for some compelling advice.
-
The SBA has issued a new form that makes it much easier for smaller borrowers to qualify for loan forgiveness, and also has clarified due dates. Click through to see if your company is eligible for the simplified paperwork.
-
The changes made by the Tax Cuts and Jobs Act of 2017 make itemizing deductions out of reach for most taxpayers. With good tax planning, however, taxpayers still may be able to itemize. Click through to learn about alternate-year itemizing and other strategies.
-
The coronavirus is a health crisis, but it has also become a business issue as well. Managers need to know what their responsibilities are regarding their employees. Click through for some essential workplace guidance.
-
The IRS is gradually rolling out a new identity protection program that prevents anyone who has stolen your Social Security number from using it to file a fraudulent return. Click through to learn how it works and whether you're eligible.
-
As we age, the importance of financial planning becomes a greater priority. Many factors affect retirement planning, but four overarching issues are essential. Click through for an introduction to retirement planning.
-
Do you think "nonprofit" means you don't have to deal with the IRS? Actually, there are still some serious tax obligations. Click through for an introduction to the tax rules that apply to nonprofits.
-
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.
-
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.
-
Recent government aid in the face of the pandemic extends beyond tax breaks. Congress also included provisions for various aspects of retirement plans. Click through to learn how these provisions can help you.
-
The IRS and SBA continue to release additional guidance on the PPP that is applicable to those applying for loans and those who already have them. Click through for key clarifications in this important but complicated program.
-
Thanks to the pandemic, many employees are now working from home. But this may mean state tax confusion, if the residence and company are in different states. Click through for an introduction to the complexities.
-
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.
-
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.
-
Many individuals and businesses that owe the IRS money will be able to delay both filing and payments for 90 days — without interest or penalties. Click through to uncover the details of this due-date postponement to July 15.
-
Cybersecurity has always ranked high on the list of business priorities, but the current shift to online services and remote work has forced companies to address the human factor. Click through to read how technology alone may not solve your security issues.
-
The 2017 TCJA changed the rules for M&E deductions, but years later many subtleties have continued to cause confusion. Fortunately, recent IRS guidance may answer a lot of questions. Click through for an overview of the final regulations.
-
The IRS' authority doesn't end at U.S. borders. If you're a U.S. citizen living overseas, you're still generally subject to the same tax rules. Click through for an overview of the tax situation for those living overseas.
-
Maintaining relationships with existing clients and attracting new ones has taken on new significance in the wake of Covid-19. Click through to learn how companies are being creative and embracing virtual networking events.
-
Compensation planning in the Covid-19 era is like nothing we have seen before. The financial and economic effects of the pandemic continue to be shifting. Click through for guidance about how your company should handle compensation, especially if facing a cash crunch.
-
There's no single formula to learn how to work at home, and the practical and cultural issues in each company will make a difference. However, there are some generalities. Click through to learn how to become an efficient and happy online employee.
-
The IRS has issued final regulations about deductions for business interest expense under the TCJA. Click through to see how the agency tackles the definition of interest and learn about exceptions that may apply to you.
-
It has been a challenging year, but one thing that hasn't changed is taxes. Fortunately, businesses remain eligible for certain deductions. Click through to read about deadlines for key provisions that pertain to your business.
-
It's been a complicated year, and you'll have to pay particular attention to Form W-2, especially Box 1--total annual taxable wages. Click through for a summary of what belongs in this box—and what does not.
-
Although the rules on paying freelancers haven't changed, the paperwork has. The IRS has rolled out Form 1099-NEC, which businesses must use for paying nonemployee compensation. Click through to learn how it works.
-
With normal work situations upended by the pandemic, many people are turning what had been side gigs into full-time occupations. Click through to learn the tax implications, because the IRS draws a hard line between a hobby and a business.
-
As the year winds down, the government changes a variety of numbers affecting tax and other financials. How do these changes affect you or the companies you manage? Click through for a review of the 2021 changes.
-
Many employers have a strong case for requiring employee vaccinations, say legal experts, but it's a complex landscape. Click through to see what your vaccination policies should include — and exclude.
-
The IRS has published a Revenue Procedure and a Revenue Ruling to try to clarify certain complex and controversial details in PPP loan forgiveness. Click through for a summary of the new IRS guidance.
-
What is FDAP? It refers to certain income earned by some foreign persons in the United States, and it's subject to a withholding tax of up to 30%. Click through for an introduction to this little-known but important tax provision.
-
Although the payroll taxes you’re liable for as an employer may seem obvious, some taxes are not so easy to identify. Click through to learn the common and not-so-common employer payroll taxes, including associated liabilities.
-
It's an old tax question, but the answers don't get any easier: what is the difference between a hobby and a business? It's a subtle point, but an important one. Click through for insights into IRS guidance.
-
As we head into tax season, taxpayers should know that the IRS continues to use several private collection agencies. How may this affect you? Click through for the details on how the program works and what your rights are.
-
An opportunity zone, located in an economically distressed community, spurs investments via preferred tax treatment. Click through for an introduction to the specific conditions for this useful but complicated provision.
-
Noncompete agreements are designed to keep confidential business information safe, and in this infotech world, that's essential. Click through to find out exactly what these entail and what they mean for someone's future employment prospects.
-
529 savings plans can do more than just help you pay for college, and now is a good time to consider just how flexible they can be. Click through to take advantage of the myriad benefits of a 529 plan in a pandemic-affected economy.
-
One of the first decisions business owners make is how their business should be structured. The many choices can be overwhelming and a clear choice may not be evident. Click through to better understand the best business structure for you.
-
Are you concerned about long-term estate tax issues? Are you prepared for a change in the rules? Click through for a review of where things are and where they may be.
-
Have you ever started to fill out a tax return only to realize that you don't have the paperwork you need to claim all the credits and deductions you are entitled to? Click through for a guide to the files you should be saving to make sure you get the maximum deduction.
-
The pandemic profoundly disrupted people's incomes and livelihoods. The federal government responded by approving pandemic relief legislation, including changes to the child care tax credit. Click through for a review of what you may be entitled to.
-
Each year, most nonprofits must file IRS Form 990 — a dozen pages requiring a detailed accounting of financial operations. Click through for an introduction to the complexities of this form to make sure you stay in compliance.
-
Sure as the night follows the day, come tax season, so follow tax scams. Click through for some information on how to avoid the three major categories: fraudulent returns, phone scams and phishing.
-
Should you put your house in a trust? For some homeowners, it could be a smart move, but you need to know all the facts. Click through for some insights into this little-known estate planning strategy to see if it's right for you.
-
It has been a challenging year, but one thing that hasn't changed is taxes. Fortunately, businesses remain eligible for certain deductions. Click through to read about deadlines for key provisions that pertain to your business.
-
Many people think that tax deductions and credits are the same, but they're not. Tax deductions reduce your taxable income, but tax credits reduce your tax bill dollar for dollar. Click through to find out what that means and when it matters.
-
Do you need a trust, or is a will enough? Many people think that trusts are just for the very wealthy, but even those with modest incomes may find them useful. Click through to learn whether a trust is right for you.
-
The rise and fall of cryptocurrency are exciting to watch. But pragmatism is needed when deciding whether to invest in it, as this is new territory for many. Click through for an introduction to this complex new investment option.
-
A lot has changed since provisions of the Tax Cuts and Jobs Act expired Dec. 31, 2021, rather than being extended. Plus, the proposed Build Back Better Act is on the horizon. Click through for some insight into the 2022 tax landscape.
-
If you don't qualify for the child tax credit, you may be able to claim the credit for other dependents. Click through for an introduction to this often forgotten tax break, to see whether you're eligible to claim it on your tax return.
-
The Fair Labor Standards Act has two categories of employees: exempt and nonexempt. But can an employee have two jobs at a company, one in each category? Click through to see how the rules would work in this situation.
-
The IRS has provided further details on additional relief for certain partnerships preparing schedules K-2 and K-3 for 2021. Click through for an overview of these complex but important changes.
-
If your employee benefit plan is not compliant with regulations, you could face audits and penalties. Click through to learn about voluntary correction programs that can help you avoid or minimize the consequences of noncompliance.
-
As you master new skills and solve problems that arise, your confidence will grow. If you are thinking about hiring a business coach, click through to see if hiring a business coach can help as you overcome weaknesses, learn new skills, and expand beyond your comfort zone.
-
Dollar-cost averaging is a simple system that can yield big results. It lowers what you pay overall for investments, all while minimizing your risks. Click through to learn why buying securities at regular intervals, regardless of price, can lead to big wins.
-
If you've joined the great resignation and you are your own boss, you may be able to write off the cost of your home office come tax time. Click through to learn how to take advantage of the useful — but complex — home office deduction opportunity.
-
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.
-
The fourth quarter is a good time to take stock of your tax situation and ask yourself the important questions: Do you need any adjustments to your withholding? What 2021 changes will affect you when you prepare your taxes? Click through for an end-of-year tax review.
-
Where is your federal tax return refund? It depends. The IRS hasn't updated its information since the beginning of December, but there is some info. Click through to see what, if anything, you can do to find out what's happening with your return.
-
Cryptocurrency is not a fad. It is here to stay. That is clear from the proposed Infrastructure Investment and Jobs Act, which includes provisions about how cryptocurrency is taxed. Click through to see what may be on the horizon.
-
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.
-
Cryptocurrency is not a fad. It is here to stay. That is clear from the proposed Infrastructure Investment and Jobs Act, which includes provisions about how cryptocurrency is taxed. Click through to see what may be on the horizon.
-
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.
-
The IRS has issued some important new guidance on capital gains and property basis, especially as the rules apply to homes. There's a chance here to save on taxes. Click through for an intro to this key guidance.
-
It has been a challenging year, but one thing that hasn't changed is taxes. Fortunately, businesses remain eligible for certain deductions. Click through to read about deadlines for key provisions that pertain to your business.
-
Where is your federal tax return refund? It depends. The IRS hasn't updated its information since the beginning of December, but there is some info. Click through to see what, if anything, you can do to find out what's happening with your return.
-
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.
-
The IRS has issued some important new guidance on capital gains and property basis, especially as the rules apply to homes. There's a chance here to save on taxes. Click through for an intro to this key guidance.
-
One of the first decisions business owners make is how their business should be structured. The many choices can be overwhelming and a clear choice may not be evident. Click through to better understand the best business structure for you.
-
Each year, the Social Security Administration takes a fresh look at various numbers and usually makes changes. Click through for the recently announced 2022 changes, so you can make financial plans for the new year.
-
Should you put your house in a trust? For some homeowners, it could be a smart move, but you need to know all the facts. Click through for some insights into this little-known estate planning strategy to see if it's right for you.
-
Expanding your business across multiple states can bring a lot of rewards, but you need to be aware of a variety of practical issues. Click through for an introduction to cross-border management issues.
-
Special rules allow limited charitable deductions even for taxpayers who don't itemize, and there are other donation changes for individuals and businesses. But these benefits run out soon! Click through to learn how to take advantage of them now.
-
When you're a spouse or personal representative of a deceased individual’s estate, you discover that even the deceased needs to file a final tax return. Click through to find out what responsibilities you have to square things with the IRS.
-
Many homeowners believe their property taxes are etched in stone and that the rates calculated in municipal offices cannot be changed. Click through to learn how your town arrives at your tax rate and how you may be able to change it.
-
Contrary to popular belief, you don't need to be a Silicon Valley billionaire to create a trust. How do you know if a trust is the right tool for you? Click through to see why a trust can be a useful estate-planning tool for lots of people.
-
As business owners who received a Paycheck Protection Program loan prepare to file their 2021 taxes, they need to consider whether they are also eligible to claim the Employee Retention Credit. Click through for an introduction to the complex tax situation and the ERC deadline rules, extended as far as 2025.
-
Questions about the complex Recovery Rebate Credit? The IRS has revised its FAQ list. It's an impressive 35 pages. Click through for an overview of some key points and a link to the complete document.
-
The Foreign Account Tax Compliance Act requires that U.S. individuals who hold foreign financial assets must report those assets to the IRS. Click through for an overview of your responsibilities under FATCA rules.
-
In these rapidly changing times, you may want to rehire, at least on a temporary basis, staff who have formally retired. But does that change their pension status? Click through to learn how to follow the complex tax rules in this situation.
-
The federal government typically taxes unemployment compensation, but it granted a partial break for income earned in 2020. That break has expired. Click through to learn what to expect for unemployment compensation earned in 2021.
-
You have employees, but you also may have independent contractors. Who are they and how do they affect your nonprofit organization? Click through to learn the difference and understand how to work with contractors.
-
Strict rules govern the timing of retirement account withdrawals. These rules may change in the near future, but meanwhile, you need to know your responsibilities. Click through for an update on IRS requirements.
-
How much is enough when it comes to saving for retirement? This is a hard question to answer, but the good news is that figuring out a reasonable amount of money to save is not impossible. Click through for some thoughts on income and retirement so that you can start planning for your golden years today!
-
When you include family members in your business operations, there are tax treatments and employment tax rules that need to be applied. Click through to learn the right way to hire a family member.
-
2020 was a hard year. But taxes for that crazy year still will be due on April 15, 2021, and if you underestimated the amount of tax you owe, you may be subject to a hefty penalty. Click through to find out whether you could be delinquent.
-
Legislation passed in March gave a break to many taxpayers who received unemployment insurance payouts in 2020. Click through for IRS guidance on how to make sure you reap the benefits.
-
The payroll tax rates and contribution limits for 2022 have been released, and there are lots of changes. Click through to see exactly what is changing so you can make plans for the coming months.
-
It's one of the fundamental rights of all taxpayers: You're entitled to have representation in dealings with the IRS, even if you choose not to appear at the interview in person. Click through to learn how to retain an authorized representative for that help.
-
The IRS typically adjusts the cents-per-mile rate each year, but has made a change effective July 1 due to quickly rising fuel prices. Click through to find out what exactly is changing, and by how much.
-
Contributing to your workplace retirement plan, avoiding withdrawals, paying off debts, and setting up multiple sources of income are four ways to retire sooner. Click through for more ideas on how to put your work life behind you at a younger age.
-
Even with a modest estate, an executor must handle a variety of tasks in the weeks after someone dies. You have a lot to get through! Click through for a step-by-step guide to the myriad responsibilities of being an executor.
-
It would seem that an easy way to avoid probate and enable your children to assist you as you age is to add them to your bank accounts and home's deed. But that technique can be perilous. Click through to find out why other methods are usually better.
|
|
|
|
| HelferBell, LLC
|
| (202) 629-5190
|
| info@helferandcompany.com
|
|
|
| 1101 Connecticut Ave NW, Ste 410
|
| Washington, DC 20036
|
|
|
|
|
|
Saved Articles
Comments and Feedback
|
Refer A Friend
Your Privacy
|
| Our firm provides the information in this e-newsletter for general guidance only,
and does not constitute the provision of legal advice, tax advice, accounting services,
investment advice, or professional consulting of any kind. The information provided herein should not be
used as a substitute for consultation with professional tax, accounting, legal, or other competent
advisers. Before making any decision or taking any action, you should consult a professional adviser who
has been provided with all pertinent facts relevant to your particular situation. Tax articles in this
e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of
avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided
"as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information,
and without warranty of any kind, express or implied, including but not limited to warranties of
performance, merchantability, and fitness for a particular purpose.
|
Powered by
|
|
Copyright © IndustryNewsletters All rights reserved.
|
This email was sent to: info@helferandcompany.com
Mailing address:
1101 Connecticut Avenue NW,
Suite 410,
Washington, DC 20036
|
|
|
|
