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The Basics of Profit First

If you like excelling financially, I hope you have heard of Profit First.  Small business owners like you are transforming their companies into consistent, profit-generating operations.  This concept, founded by small business finance expert Mike Michalowicz, is slowly growing in followers. Once you become familiar with its fundamentals, it’s...

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FEBRUARY 2020 INDIVIDUAL DUE DATES

February 1 – Tax Appointment If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you.  February 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20...

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FEBRUARY 2020 BUSINESS DUE DATES

February 10 – Non-Payroll Taxes File Form 945 to report income tax withheld for 2019 on all non-payroll items. This due date applies only if you deposited the tax for the year in full and on time.February 10 – Social Security, Medicare and Withheld Income Tax File Form 941 for...

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WILL INDEPENDENT CONTRACTORS BECOME EXTINCT?

Article Highlights:New California LegislationEmployee or Independent ContractorDynamexABC Test Impact on Employers Impact on Workers Safe HarborThe California legislature recently passed landmark labor legislation that essentially makes it very difficult, if not impossible, for a worker to be classified as an independent contractor (self-employed). Governor Newsom was quick to sign...

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ABOVE-THE-LINE EDUCATION TAX DEDUCTION REINSTATED

Article Highlights:Appropriations Act of 2020History of the DeductionOther Education Expense BenefitsWhich Tax Break Provides the Best Benefit On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, among them retroactive extension of certain tax provisions that expired...

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