On the federal level, employer-only taxes include Social Security tax, Medicare tax, and federal unemployment (or FUTA) tax, which are administered by the Internal Revenue Service (IRS). On the state level, employers are on the hook for state unemployment (or SUTA) tax, which is administered by the state workforce agency. Although these employer payroll taxes.. read more →

Thinking that maybe an outside expert can help you solve an internal business problem? Here are the positives to hiring a business consultant. They can Be a source of specialized knowledge, bringing skills and experience. Help with marketing, sales development, business expansion, and improvements and aid in executing these ideas and recommendations. Bridge a gap.. read more →

A Medicaid trust can help you qualify for Medicaid while preserving your estate. But they’re complicated, and you need to know the kinds of trusts available, and how they work. Medicaid trusts fall into the general categories of revocable and irrevocable trusts. Most elder lawyers are partial to irrevocable trusts because they can’t be changed.. read more →

What’s in a word? A world of tax consequences when the word is “business” or “hobby.” In a nutshell: If you and the IRS determine that an activity is a business, you’ll owe taxes on profits and will be allowed to deduct expenses for conducting that business. But if your passion for, say, making quilts.. read more →

By:  James S. Rollinson, Jr., CPA Two old court cases were very favorable to the online retailer but unfortunately, do not reflect the digital world we live in today. “National Bellas Hess, Inc. v. Department of Revenue of Illinois” in 1967 and “Quill Corporation v. North Dakota” in 1992. Both cases provided a precedent that in.. read more →

By:  Hahn Trinh The number of senior financial scam cases are increasing exponentially.  Senior citizens are at the highest risk of fraud.  Being the generation with financial stability as well as the generation not as up-to-date with the ever-growing uses of technology, they have become the target of most financial scams.  Seniors are often less.. read more →