State and Local Sales Tax Rates, Midyear 2024

State and Local Sales Tax Rates, Midyear 2024 https://bit.ly/4fbCuL4

Social Security tax update: How high can it go?

Employees, self-employed individuals and employers all pay Social Security tax, and the amounts can get bigger every year. And yet, many people don’t fully understand the Social Security tax they pay. If you’re an employee If you’re an employee, your wages are hit with the 12.4% Social Security tax up to the annual wage ceiling. […]

2024 Q3 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. July […]

Hiring your child to work at your business this summer

With school out, you might be hiring your child to work at your company. In addition to giving your son or daughter some business knowledge, you and your child could reap some tax advantages. Benefits for your child There are special tax breaks for hiring your offspring if you operate your business as one of […]

The tax consequences of selling mutual funds

Do you invest in mutual funds or are you interested in putting some money into them? If so, you’re part of a large group. According to the Investment Company Institute, 116 million individual U.S. investors owned mutual funds in 2023. But despite their widespread use, the tax rules involved in selling mutual fund shares can […]

State Tax Changes Taking Effect July 1, 2024

State Tax Changes Taking Effect July 1, 2024 https://bit.ly/3zhsujh

House rich but cash poor? Consider a reverse mortgage strategy

Are you an older taxpayer who owns a house that has appreciated greatly? At the same time, you may need income. Thankfully, there could be a solution with a tax-saving bonus. It involves taking out a reverse mortgage. Reverse mortgage basics With a reverse mortgage, the borrower doesn’t make payments to the lender to pay […]

Inflation enhances the 2025 amounts for Health Savings Accounts

The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and the adjustments are announced earlier in the year than other inflation-adjusted amounts, which allows employers to get ready for the next year. Fundamentals of HSAs An HSA is a trust […]

Local Income vs. Sales Taxes: Which Is the Better Source of Local Revenue?

Local Income vs. Sales Taxes: Which Is the Better Source of Local Revenue? https://bit.ly/3KSNuiz

Beer Taxes: How Does Your State Compare?

Beer Taxes: How Does Your State Compare? https://bit.ly/3RrZ48g