News & Tips Archive

Apr 07, 2025

BOI Reporting Obligations Reinstated--And Then Removed Again

Because of various court rulings, the beneficial ownership information reporting requirement for small businesses has been bouncing back and forth. Click through for the latest on Corporate Transparency Act requirements.

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Mar 14, 2025

Employer-Sponsored Educational Assistance

By offering educational assistance programs, companies can support employees' undergraduate or graduate education, help them pay off student loans, or assist them with the cost of books and supplies. Read through to learn more about the IRS's qualified educational assistance program.

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Mar 13, 2025

Better the Devil You Know: Long-Term Employees

Employees who may have worked for the same employer for 5-10 years or longer are sometimes facetiously labeled "lifers," while others are "job hoppers." But are those labels useful anymore? Read through for some insights into employee tenure.

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Mar 12, 2025

Is This Your Situation: You're Confused About Overtime

Not everyone in your office will qualify for overtime pay, but how do you determine employee classification? Read through to learn more about overtime and who qualifies.

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Mar 11, 2025

Is This Your Situation: Considering Pay-As-You-Go Workers' Comp Insurance

Workers' comp insurance is essential for most businesses, but as an employer, you may have more options than you realize. Read through for an introduction to the pay-as-you-go model and the advantages of outsourcing it.

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Mar 10, 2025

State and Local Tax Considerations for Remote Employees

Until the pandemic, no one could have envisioned how profoundly remote employment would affect the workplace. The rise of the hybrid office has led to some thorny tax questions. Read through for some thoughts on how tax rules apply in a remote or hybrid environment.

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Feb 14, 2025

Payroll Myths Exploded

As a small-business owner, it's highly likely that you've caught wind of payroll myths, and if you believe them without realizing they are mythical, then these nonfactual ideas might influence your approach to payroll. Read through to realize that it's possible to evade payroll myths instead of falling victim to these lies.

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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.

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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.

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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.

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Feb 10, 2025

Retaining Payroll Records

Federal and state laws and regulations require you to keep payroll documentation for several years. But which documents should be saved and for how long? Read through to learn the details so that you will be ready should you ever be audited.

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Dec 30, 2024

UPDATED--Season's Greetings: BOI Rules Reversed Again

All over the business world, accountants, lawyers, financial executives and journalists have been scrambling to keep up with the latest soap opera in the financial community: what's happening with the Corporate Transparency Act and its ownership reporting rules.

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Dec 26, 2024

IMPORTANT UPDATE:

FinCEN Extends BOI Reporting Deadline

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Dec 20, 2024

What Is Imputed Income?

Benefits can boost employee morale as well as loyalty to the job and your company, but some benefits come with tax implications. Read through to learn which benefits add to employee income so that you can withhold correctly and avoid penalties.

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Dec 19, 2024

Court Stops Corporate Transparency Act

The Corporate Transparency Act was slated to affect many businesses in 2025 with some heavy-duty reporting requirements. But a court has just effectively stopped it, definitely for now, and possibly permanently. Read through for some details.

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Dec 18, 2024

Understanding IRS Form W-2

Form W-2 is the wage and tax statement that employers give to employees and to the IRS to show each employee's income earned and taxes withheld. Read through to better understand how the government uses the form.

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Dec 17, 2024

A New President: How Taxes May Change

It is important to understand the tax policies and initiatives that United States President-elect Donald Trump spoke about during his campaign. Some, all or even none of them may come to pass. Read through to see how the situation may change, so you can be prepared.

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Dec 16, 2024

The IRS Announces Inflation Changes for 2025

As it does every year, the IRS has made inflation adjustments to a variety of provisions. These take effect in 2025, and generally will be applicable when filing taxes in 2026. Read through for a summary of the main changes.

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Nov 22, 2024

IRS Adjusts HSA Amounts

In a recent revenue procedure, the IRS announced changes to health savings accounts for 2025. Now is a good time to look at your situation and consider your options. Click through for a review of the changes.

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Nov 21, 2024

Creating a Payroll Continuity Plan

When a disaster strikes, it's critical to have a payroll continuity plan — a document outlining the steps necessary to manage payroll through disruption. Click through to learn how to create a multitiered plan that prepares your organization for many possibilities.

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