by Lori Bowden | Jun 4, 2025 | Business, Newsletter, Tax
The accounting method your business uses to report income for tax purposes, either cash or accrual, can significantly impact your tax bill. While the cash method can offer tax-saving opportunities, the accrual method may in some cases be more appropriate or even...
by Lori Bowden | Jun 2, 2025 | Individuals, Newsletter, Tax
If you’re thinking about helping a child or grandchild pay for school, you’re not alone, and you’re not without help. While families have always saved for education, Section 529 plans have made it easier and more tax-efficient. Tax Advantages With a 529 plan, your...
by Lori Bowden | Jun 1, 2025 | Individuals, Newsletter, Tax
It may not be as fun to plan as the wedding venue, invitations and attire, but marriage can result in changes affecting essential tax issues that need prompt attention following the wedding: Name. If your name has changed, report it to the Social Security...
by Lori Bowden | May 4, 2025 | Business, Newsletter, Tax
The consequences of misclassifying an employee as an independent contractor can be costly. You could be liable for back taxes (including the employee’s shares of unpaid payroll and income taxes), penalties and interest. There may be serious nontax consequences as...
by Lori Bowden | May 3, 2025 | Individuals, Newsletter, Tax
Most people feel some relief after filing their income tax returns each year. But even if you’ve successfully filed your 2024 return, you may still have questions. Here are three common ones. 1. What’s the Status of Your Refund? You can learn the status of...
by Lori Bowden | May 2, 2025 | Business, Individuals, Newsletter, Tax
If you own a company and travel for business, you may wonder whether you can deduct all the costs of having your spouse accompany you on trips. It’s possible, but the rules are restrictive. When Your Spouse Is Also Your Employee If your spouse is your employee, you...
