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News & Tips Archive
Feb 13, 2025
Know Your Business Deductions
Many business owners don’t take full advantage of the tax deductions available to them, even though the deductions can help lower how much tax the business owes each year. Read through for insight into business deductions and learn about the important role they play in reducing your taxes.
Feb 12, 2025
Is This Your Situation: Deciding Whether Someone Is an Employee or a Contractor
What is in a name? The IRS knows the answer, even though the reasoning can be subtle. Read through to learn the differences between an employee and an independent contractor before you make an expensive error.
Feb 11, 2025
IRS Warnings Regarding Health and Wellness Deductions
The IRS is reminding taxpayers that personal expenses pertaining to health and wellness cannot be deducted or reimbursed. Read through to understand why they are not considered expenses for medical care under the Internal Revenue Code.
Panacea Payroll
3277 West Ridge Pike
Suite A101
Pottstown, Pennsylvania 19464
610-310-7615
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Staying resilient from malicious threats, cyber and physical, is critical in providing the exemplary value our clients expect from us. To do this, we integrate the National Institute of Standards and Technology's (NIST) Cybersecurity Framework that ensures our security procedures, policies, and infrastructure are up to the highest standard possible. Financial institutions, infrastructure management, defense, healthcare, and other heavily regulated industries that rely on stringent information safeguards use the NIST Cybersecurity Framework. We review our security policies and procedures frequently to ensure newly identified threat and vulnerability information is incorporated. Our network infrastructure and physical locations are continuously monitored for anomalies and uninvited guests. Additionally, our incident response and business continuity plans are tested frequently to minimize the likelihood of backup failures.
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