The Internal Revenue Service recently published new, higher contribution limits for health savings accounts for 2021. An individual is allowed to contribute $ 3,600, while it is $...
Posted by Carmen Garcia on 10/15/2020
One of the things every first time business owners need to know is filing tax. As long as they pay employees, quarterly filing of taxes is essential. This is where Form 941 comes in....
Posted by Flynn Financial Group Inc on 09/24/2020
For people in the real estate business with agents that you give commissions after every sale or lease, you must report such payment on a 1099 MISC form. Your obligation as an employer...
Posted by Carmen Garcia on 09/18/2020
As humans, mistakes are inevitable. Although, when you arm yourself with some information, you can avoid mistakes. When you have an error on your tax, it might not trigger a full audit....
Posted by Tim Thompson CPA PLLC on 08/24/2020
Points to NoteBecoming an independent contractor can be tempting for employees who work from home, count on the client's work, and claim a large number of tax deductions, including...
Posted by Flynn Financial Group Inc on 07/09/2020
As the saying goes, to be forewarned is to be forearmed. After preparing the Form 1099 MISC forms, stop and check if the info entered is correct. Before submitting these forms to individuals...
Posted by Carmen Garcia on 06/11/2020
You do not want to draw the attention of the Internal Revenue Service. However, failure to submit the appropriate form when you make payments to third parties can expose you to the...
The main incentive for small businesses under the CARES Act is the Paycheck Protection Protection (PPP) program. The $349 billion funded through the Small Business Loan Program (SBA)...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 05/14/2020
Did you know that employers deduct income tax from the paychecks and remit of their employees and report it to the IRS? If you’re an employee, you will receive an IRS Form W-2,...
Posted by Advanced Accounting & Tax Planning on 04/27/2020
