by Lori Bowden | Jul 4, 2024 | Business, Newsletter
Many businesses use independent contractors to help keep their costs down and provide flexibility for short-term needs. But the question of whether a worker is an employee or an independent contractor is complex. Be careful that your independent contractors are...
by Lori Bowden | Jul 3, 2024 | Business, Newsletter
Businesses that operate in the retail or restaurant spheres have it relatively easy when it comes to collections. They generally take payments right at a point-of-sale terminal and customers go on their merry way. For other types of companies, it’s not so easy....
by Lori Bowden | Jul 2, 2024 | Accounting, Newsletter, Taxes
As rents continue to rise in many areas, you may decide to help your financially challenged family members by renting a property to them at a discount. But this can lead to the loss of significant tax deductions. Here’s a look at the tax treatment that applies...
by Lori Bowden | Jul 1, 2024 | Newsletter, Taxes
Health Savings Accounts (HSAs) are tax-advantaged savings vehicles for funding health care expenses not covered by insurance. And for those in relatively good health, they also may serve as attractive retirement savings vehicles. To be eligible to contribute, an...
by Lori Bowden | Jun 6, 2024 | Business, Individuals, News, Taxes
Updated on 7/2/24: This news release has been updated to include Anderson, Baylor, Cochran, Delta, Hays, Hill, Milam, Rockwall, and Rusk counties. Updated on 6/24/24: This news release has been updated to include Coke, Fannin, Lynn, Panola, San Augustine, Shelby, and...
by Lori Bowden | Jun 4, 2024 | News, Newsletter, Taxes
Under the Corporate Transparency Act (CTA), many businesses are subject to new reporting requirements that took effect on January 1, 2024. That means certain companies are required to provide information related to their “beneficial owners,” that is, the individuals...
by Lori Bowden | Jun 3, 2024 | News, Newsletter, Taxes
Among the many challenges of parenthood is childcare for kids when school lets out. Babysitters are one option, or you might consider sending them to a day camp. There’s no one-size-fits-all answer, but if you do choose a day camp, you could be eligible for a tax...
by Lori Bowden | Jun 2, 2024 | Business, Newsletter, Taxes
If you check the Internal Revenue Code, you may be surprised to find that most business deductions aren’t specifically listed there. For example, the tax law doesn’t explicitly state that you can deduct office supplies and certain other expenses. Some expenses are...
by Lori Bowden | Jun 1, 2024 | Fraud, Individuals, Newsletter
Scam artists seek new ways to steal financial data and money from vulnerable people in any season. Such fraudulent activities often target older adults. Here are three ways to help prevent elder financial abuse and fraud, whether you’re in this age bracket or you...
by Lori Bowden | May 5, 2024 | Newsletter, Taxes
If you employ a household worker who isn’t an independent contractor, you may be required to pay employment taxes on the worker’s cash wages. This is commonly referred to as the “nanny tax.” In 2024, when a household employee’s cash wages reach at least $2,700, you...
