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Article Highlights: Education Benefits Education, Teachers and Educators Child Tax Credit Child & Dependent Care Tax Credit Earned Income Tax Credit for Childless Workers Paid Family Leave Health Insurance Corporate Tax Rate Individual Marginal Tax Rates Capital Gains Tax Basis Step-up Carried Interest Like-kind Exchange for Real Estate Excess Business Losses Medicare Tax Tax Preparer […]
May 10 – Social Security, Medicare and Withheld Income Tax File Form 941 for the first quarter of 2021. This due date applies only if you deposited the tax for the quarter in full and on time. May 17 – Employer’s Monthly Deposit Due If you are an employer and the monthly deposit rules apply, […]
May 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during April, you are required to report them to your employer on IRS Form 4070 no later than May 1110. Your employer is required to withhold FICA taxes and income tax withholding […]
A pension plan is a form of retirement plan offered to employees by an employer. This type of plan pays the employee a previously set income at the time the employee retires. This income is usually based upon how long the employee worked for the company. Pension plans are less and less common as more […]
Many of us know that retirement planning is important, and the basic concept of it seems pretty simple. When it comes down to getting serious about it, retirement planning can become overwhelming. Most Americans between the ages of 40 and 60 have less than $100,000 set aside for their golden years as reported by a […]
When it comes to accounting there are 8 basic steps that are followed in an accounting-cycle. This is good to know not just for bookkeepers, but those that own and operate a business. A basic understanding of how accounting is operated will allow you to know what things should be done, a general practice for […]
Most adult Americans know or refer to April 15 th as tax day. While April 15 th is technically the official cut off to turn in your previous year’s tax report to the Internal Revenue Service (IRS), if that day falls on a weekend or holiday the deadline is extended for everyone to the next […]
We are pleased to announce that we have completed a merger with Clarity Tax Management PS and Multop Financial. We are excited about the opportunity to work with their team of professional Tax Specialists, Certified Public Accountants, Business Advisors, and Financial Planners. Our offices in Skagit Valley and the San Juan Islands will continue to […]
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