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Do You Owe the IRS for Rewards Points and Cash Back? The Answer Could Be Yes

Fundera

The IRS first came to this conclusion in a 2002 memorandum and later confirmed this reasoning in a 2010 memorandum. …But Rewards Can Limit Your Business’s Tax Deductions. As a small business owner, you’re probably already aware that you’re eligible to claim tax deductions for eligible business expenses.

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10 Online Resources to Help You Become a Quickbooks Expert in No Time

Fundera

First things first: I’ve been hosting this live online program with my friend and colleague Woody Adams since 2010. If you’re looking for information about personal taxes—like how much of your kid’s summer camp is deductible, the place to go is the Turbotax Blog. Every Thursday evening from 5 to 6 p.m., Social Media.

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5 Quickbooks Forums to Check When You Need Help

Fundera

Full disclosure here: I’ve hosted this live, online chat show in some way, shape or format with friend and colleague Woody Adams since 2010. . Personal tax information, like how much of the kid’s summer can can you deduct from your taxes, can be found at the Turbotax Blog. Phew… So many great resources out there.

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How to Manage Your Retirement Savings During a Recession

Due

The 401(K) is a special type of retirement contribution plan that is deducted pre-tax from an employees payroll account and directly deposited to your 401(k) retirement savings plan that is usually matched by your employer based on certain percentages (25%, 50% or even 100%).

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FICA Taxes: What’s the FICA Tax Rate, and What Do Employers Need to Know?

Fundera

After passage of the Affordable Care Act in 2010, employees who make over a certain amount of money each year must pay an additional Medicare surtax. You must start deducting the Medicare surtax when the employee’s earnings reach $200,000, but the couple falls beneath the $250,000 threshold for married, joint filers. Medicare surtax.

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QSEHRA: The Ultimate Guide for Small Business Owners

Fundera

However, with the passage of the Affordable Care Act in 2010, standalone HRAs became noncompliant. This allows them to provide themselves with a tax deductible benefit. Tax incentives : Like group health care plans, a QSEHRA is also tax deductible for both the employer and employee.

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Wave Payroll Review: Cost, Features, Alternatives

Fundera

Since launching in 2010, Wave has helped 4 million customers manage over $200 million in income and expenses via their suite of free tools. That way, you can approve the payroll run with all employee hours, bonuses, and deductions accurately accounted for. Run Payroll. When you’re ready to run payroll, click “Review” on your dashboard.