Don’t be too busy to fall for this tax scam
An employer’s life is almost always busy, but it is even more so at the first part of the year with the added responsibilities of preparing documents for filing taxes for both themselves, their business and so their employees can file their taxes as well. Unfortunately, scam artists are counting on this hectic season to […]
Talk to your teens about future medical decisions
Discussions about end-of-life decisions are not easy, but they are necessary to ensure that you and your loved ones’ wishes are fulfilled in the event of illness or devastating accident. Generally these discussions involve spouses and their siblings and parents. But what about your young adult children? It is a wake-up call for many parents […]
New withholding tables reflecting tax reform now available
Many Americans can look forward to seeing an increase in their paychecks next month due to the new tax law, but first employers must update withholding information for employees. The IRS released recently the 2018 withholding tables – formally the 2018 Percentage Method Tables for Income Tax Withholding – and employers must begin using them […]
There is more than one way to pay your taxes
Just as more and more businesses accept electronic payment for purchases or bills, so too does the IRS. Of course, you can still pay your taxes each year or quarterly by check or money order, but you can also use other options such as: Direct pay through your checking or savings account. This service is […]
Some ACA deadlines extended for employers
Employers will have more time to comply with some Affordable Care Act reporting deadlines. As you know, employers who offer fully insured medical plans must file Forms 1094-C and 1095-C with the IRS by Feb. 28 for paper filers and April 2 for electronic filers. (Employers with 250 or more reports to file are required […]
Wage base increases and so does Social Security tax
The income level for those paying into Social Security will rise slightly this year. The Social Security Administration announced in the fall that the 2018 taxable wage amount will increase from $127,200 to $128,700. In other words, the maximum amount of wages in 2018 that are subject to the 6.2 percent Social Security tax rose […]