A Marriage Penalty Still Applies for High Earners and Very Low Earners While the recently passed Tax Cut and Jobs Act (TCJA) eliminates the marriage penalty for many couples, some couples will see still this penalty. What is a marriage…
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The New Tax Act Eliminates Marriage Penalty for Many
Posted in General Tax Tips & News, QuickBooks tips
Gambling Winnings and Taxes
It’s Preakness Week in Maryland. Just Remember: Big Winners Owe Taxes! Baltimore’s Pimlico Race Course hosts the second leg of the Triple Crown this week. If you are lucky at the track, pick the winner, and win big, you must…
Posted in General Tax Tips & News, QuickBooks tips
Tax Planning and Recordkeeping Tips for After Tax Season
With your just-completed tax filing, you may not want to think about taxes and your finances. However, now can be a great time to review your tax planning and recordkeeping process and to take stock of your personal finances. Review…
Common Payroll Mistakes Small Businesses Make
Payroll Mistakes Can Cost Your Business Studies indicate that each year about 40 percent of small businesses incur more than $800 in fines due to payroll mistakes. If your firm manages payroll in-house, take care in setting and maintaining your…
Posted in QuickBooks tips, Small Business Accounting Tips