News, Hints, and Tips

Many employers hope for a single factor or an easy checklist to help them decide whether a worker is an employee or an independent contractor. The reality is more complicated. At the federal level, the IRS evaluates whether the business has the right to direct and control how the worker performs services, even if that […]

Trump Accounts are tax-advantaged investment accounts designed for U.S. citizens under the age of 18 who have a Social Security number. Launching July 4, the program will provide $1,000 to every American child born between Jan. 1, 2025, and Dec. 31, 2028. An authorized individual — prioritized in order as a legal guardian, a parent, […]

In Announcement 2026-11, the IRS has announced that starting July 1, 2026, the revised standard mileage rates are: (1) Business: 76 cents per mile (up from 72.5 cents per mile) (2) Medical and moving: 23.5 cents per mile (up from 20.5 cents per mile) The mileage rate that applies to the deduction for charitable contributions […]

Seasonal and part-time employees are subject to the same federal income tax withholding, Social Security, and Medicare tax rules as other employees, advises the IRS. Employers must withhold and pay employment taxes on wages paid to these workers. It can be easy to forget these “extras,” but you do so at your peril. Seasonal employers […]

Fringe benefits are simply another form of compensation. They are not paid in the form of wages, yet they play a meaningful role in how employees experience the value of their work. These benefits are especially useful when you are trying to attract and retain top talent. In most cases, any fringe benefit you provide […]

While summer fun feels almost mandatory, the Internal Revenue Service is gently nudging us to consider how activities such as business travel, part-time work and getting married can affect next year’s tax return. Here are tips to make tax season a little sunnier. Getting married involves plenty of planning. Newlyweds can ease tax filing by […]

If you want your money to go to the people you choose and avoid unnecessary tax losses, consider how your assets are structured and which planning tools you implement. These factors can significantly affect how much of your estate is preserved and reaches your intended beneficiaries. Because different assets are treated differently under the tax […]

Health savings accounts provide employees with a smart way to save for medical expenses, even into retirement. Their triple tax benefit comes from their structure: contributions are made pretax, the money grows tax-free and withdrawals for qualified medical expenses are tax-free. As of Dec. 31, 2024, HSAs covered over 59 million Americans across 39.3 million […]

Incomplete or inaccurate grant reports can jeopardize future funding, making reporting one of the high-stakes administrative functions in nonprofit management. However, organizations that maximize their reporting infrastructure don’t just meet requirements; they leverage the same data to address more complex questions about program performance, resource allocation and financial risk. Making reports work The foundation of […]

Tax problems can create a surprisingly heavy financial burden for small businesses. Penalties and interest from the IRS, late payment fees, professional costs, audit expenses and even missed deductions or credits can chip away at your cash flow. These issues also tend to bring along their own entourage of stress, anxiety, operational disruption and strained […]