Employee Relocation: What Happens to Your Home?
Employee Relocation: What Happens to Your Home? Employees and small business owners often have questions about what to do with an employee’s home – and what the tax consequences might…
Advance Child Tax Credit Payments Start This Month
Advance Child Tax Credit Payments Start This Month The Internal Revenue Service has started sending letters to more than 36 million American families who, based on tax returns filed with…
Lets Talk ERC
Employee Retention Credits Last year, the CARES Act introduced an Employee Retention Credit (ERC) to provide reimbursement of wages for businesses affected by the COVID-19 virus and incentivize employers to…
Tips for Students with a Summer Job
Tips for Students with a Summer Job If your child is a student with a summer job, the income your child earns over the summer is considered taxable income. Here’s…
HSA Limits Increase for 2022
HSA Limits Increase for 2022 Contributions to a Health Savings Account (HSA) are used to pay current or future medical expenses of the account owner, his or her spouse, and…
Changing Jobs? Don’t Forget About Your 401(k)
Changing Jobs? Don’t Forget About Your 401(k) One of the most important questions you face when changing job is what to do with the money in your 401(k) because making…
Tax Considerations When Selling Your Small Business
Tax Considerations When Selling Your Small Business Selling a small to medium-sized business is a complex venture, and many business owners are not aware of the tax consequences. If you’re…
Bill Polacek leads JWF Industries through moments of change by staying true
Over the past 35 years running JWF Industries, President and CEO Bill Polacek has faced several obstacles that required him to step back and rethink his approach. “I hit either…
New Cambria-Somerset County initiative offers remote workers $5,000 to relocate to area
Jay and Nikki Forde are from Seattle, Washington and moved to Johnstown last year. “Seattle has been very good to us. We lived there, raised our kids there. But we’re…
Refunds for Nontaxable Unemployment Compensation
Refunds for Nontaxable Unemployment Compensation The IRS is automatically refunding money to eligible people who filed their tax return reporting unemployment compensation before the recent changes made by the American…