Phishing scams are everywhere so be sure to know the signs
Whether it’s an email, a phone call or a solicitation through social media, scams abound and it’s up to all of us to be aware. While they take different forms using various platforms, most scams have a few things in common that can serve as tell-tale signs the communications are not legitimate. Some of the […]
Putting your child on the payroll this summer makes more sense than ever
If you own a business and have a child in high school or college, hiring him or her for the summer can provide a multitude of benefits, including tax savings. And hiring can make more sense than ever due to changes under the Tax Cuts and Jobs Act (TCJA). How it works By shifting some […]
Be aware of the tax consequences before selling your home
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences. Home sale gain exclusion […]
Sending your kids to day camp may provide a tax break
When school lets out, kids participate in a wide variety of summer activities. If one of the activities your child is involved with is day camp, you might be eligible for a tax credit. This includes camps that specialize in a particular activity, such as baseball, soccer, computers, etc. This does not include school- and […]
WOTC is a win-win for employers and employees alike
Employers can get credit where credit is due. The Work Opportunity Tax Credit is a valuable and beneficial tool for employers to receive a tax credit for hiring certain workers who face significant barriers to employment. The Work Opportunity Tax Credit generally is based on wages paid to eligible employees during their first year of […]
An ‘accountable plan’ may benefit employees impacted by TCJA
Tax cuts were the headlining feature in the sweeping tax reform law that went into effect at the beginning of the year. There are other provisions, though, of the Tax Cuts and Jobs Act that could negatively impact employees’ paychecks. Prior to enactment of the law on Jan. 1, 2018, employees were allowed to deduct […]
New law boosts Georgia HEART Tax Credit
The tax credit for making a charitable donation to rural hospitals in Georgia just got a significant boost, but you may want to act quickly to take full advantage of the benefits. The Georgia HEART Hospital Program, which came into effect the first of 2017, awards Georgia income tax credits to individual and corporate taxpayers […]
Update your emergency plan before the storm hits
As cool days give way to warmer temperatures, the environment is ripe for hurricanes, tornadoes and other strong storms. While there’s not much that can be done to prevent natural disasters from occurring, business owners can take steps ahead of time to create or update their emergency plans and protect their most valuable documents and […]
Florida taxpayers eligible for sales tax breaks for donating to scholarship programs
Taxpayers in Florida have some more options this year to donate to scholarship programs and receive a break on their taxes. Florida Sales Tax Credit Scholarship Program: Under legislation that was signed recently by Gov. Rick Scott, those renting or leasing property can receive a 100 percent credit on the sales tax imposed on the […]
IRS unveils new tool to search for charitable organizations
Are you looking for a worthy local charity or want to make sure your favorite nonprofit is in good standing? The IRS has published a new search tool that is designed to provide easier access to information on tax-exempt organizations. The new Tax Exempt Organization Search (TEOS) replaces the EO Select Check. The new tool […]