2012 Strategies
Take a look at Individual Tax Saving Strategies for 2012 and Small Business Tax Saving Strategies for 2012 to understand how to minimize your tax liability for the current year.
Year End Payroll Update
The start of a new year is a busy time. This payroll updte will assist you with your year end payroll taxes, W-2s and 1099s, as well as update you on any changes. More...
QuickBooks 2012
Each year, Intuit releases a new edition of their QuickBooks software. For 2012, there are many new features as well as improvements to features already in prior editions. This article will let you know what's new and reasons to upgrade. More...
Tasha's Year End Tax Update
As we approach year end, it's again time to focus on last minute moves you can make to save taxes - both on your 2011 return and in future years. Planning in an age of unknowns is difficult so here's a few things for you to consider. More...
Who is a Dependent?
The IRS allows taxpayers to claim exemptions for themselves and their dependents. For 2011, each exemption decreases taxable income by $3,700. Who qualifies as a dependent? More...
Mid Year Tax Update
A few ideas to get you thinking about tax planning moves for the rest of this year.
More...
Explore Interviews Do's and Don't
Interview tips from Stephanie Barganz. Never again not get a job offer because of a poor interview.
More...
Hiring a New Employee - payroll forms & other required reporting
When an employer hires a new employee in Wisconsin, there are three forms that should be presented to the employee for completion and signature before they begin their employment.
More...
Surviving the Cash Flow Crunch
In this economic environment, it is more important than ever for small businesses to manage their cash flow as efficiently as possible. Below are some tips for dealing with slow paying customers and optimizing your cash flow.
More...
What Version on QuickBooks SHould I Use?
There are many packages to choose from. Which one do you choose? Here are some points for considerstion when selecting which version of QuickBooks to purchase.
More...
DWD Special Assessment Notices
During the week of June 20, 2011, the Wisconsin Department of Workforce Development sent notices to Wisconsin employers notifying them of a possible special assessment for interest on outstanding federal loans. How it affects you.
More...
New MyTax Account Website
At the beginning of June, 2011, the WI Department of Revenue released a new look for the MyTax account. The revisions made to MyTax were meant to streamline the filing and paying process. Here are some hints to navigate the new MyTax account layout.
More...
FUTA Surtax to Expire
The current net FUTA (Federal Unemployment Tax Act) rate of 6.2% is made up of two parts: the permanent rate of 6% and 0.2% surtax enacted in 1976. The 0.2% surtax is set to expire on June 30, 2011. As a result, the FUTA rate employers must pay will be reduced from 6.2% to 6% as of July 1, 2011.
More...
Mileage Rates
The Internal Revenue Service announced an increase in the optional standard mileage rates for the final six months of 2011. The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011.
More...
Protecting Yourself From Scammers
Unfortunately, there are numerous ways criminals can seek to separate you from your money: "phishing" scams that try to obtain your secure information by tricking you with official-looking e-mails, automated telephone calls claiming a loan is past due and you must enter your account number to bring it current, fraudulent charities, long lost relatives in Nigeria who need your help getting money out of the country... there is no end to the creativity of the scammer.
More...
You've Got a Great Idea - Now What?
Whether it is because you spend so much time at a hobby that it may as well be done for a living or because you're sure that you can do your boss's job better, many people have thought about starting their own business. Well, before you quit your job to become the boss, there are a few things you should consider.
More...
What Entity Should You Be?
This article shows the differences between LLCs, C Corporations and S Corporations.
More...
My Office at Home?
Many people have misconceptions about what benefits are available in a home office. Locating your business inside your home allows you to take the following deductions.
More...
Why is the IRS Calling my Business a Hobby?
Hundreds of thousands of people in the US each year decide to start their own businesses. But, if a business has losses in three of its first five years and is normally considered a recreational activity (fishing, scrapbooking, collecting, etc.), the IRS may reclassify the business as a hobby.
More...
Social Media and Your Business
Business owners may ask - "aren't social media tools like Facebook just for teenagers and bored housewives who spend all day playing games like Farmville?" If this is what you think, you could be missing a HUGE marketing opportunity for your business.
More...
Where is My Loss? Understanding Passive Activity Losses
It is not unusual for a new investor in a limited partnership or for the owner of a piece of rental property that had a bad year to wonder why they do not see the loss deduction they were expecting on their income tax return. The answer frequently is that the loss was limited due to passive activity loss rules.
More...
Low Income Housing Tax Credits (LIHTC)
LIHTC are income tax credits that are provided under Section 42 of the Internal Revenue Code for new construction or rehabilitation of low-income housing.
More...
Current Tax Cut Legislation
On December 17th, the president signed into law tax cuts for individuals and businesses.
More...
2010 Year-End Payroll and Information Reporting Update
The start of a new year is a busy time. This payroll update will assist you with your year end payroll taxes, W-2's & 1099's as well as update you on any changes. We have summarized information and amounts from several publications, as well as new limits for 2011 for you to use as a resource.
More...
Small Business Jobs Act of 2010
On September 27, 2010, the president signed into law the new Small Business Jobs Act of 2010. The following are changes that may impact your 2010 tax situation.
More...
Employee vs. Independent Contractor
In Wisconsin, the requirement that an individual must satisfy at least 7 of 10 criteria to be considered an independent contractor has been scrapped as of October 2010. The new, much more stringent test is a two-part analysis which must be satisfied "by contract and in fact."
More...
Meals and Entertainment
The deductibility of meals and entertainment expenses can be a confusing area for many small business owners. Expenses need to be classified as being 100% deductible, 50% deductible, non-deductible and, of course, there are exceptions to both the 50% and non-deductible rules.
More...
The QBC - QuickBooks Tips and Tricks Series
In this article, we will detail the process to change the prices of your items within QuickBooks.
More...Farmland Preservation Tax Credits
The Wisconsin Working Lands Initiative was passed as part of Wisconsin's 2009-2011 biennial budget process. The main components of the initiative include: More...
Online Banking with QuickBooks
QuickBooks can be a powerful tool for managing your business and accounting systems. There are many features available in QuickBooks that can increase the effectiveness of this software. More...
Maintaining your QuickBooks File
Your QuickBooks file can be a powerful business tool, but what happens when QuickBooks is not operating properly? More... Supplement...
Health Care Reform - Payroll Timeline for 2010-2011
Children must be covered or continue to be covered until 12/31 of the year in which they turn 27. More...
Rollovers to Roth IRAs
There seems to be a lot of talk lately about rollovers to Roth IRAs. Could this be a good idea for you? More...
Angel Investing
Wisconsin has been nurturing a climate for early-stage funding for innovative or entrepreneurial businesses. The Wisconsin Department of Commerce, the Department for Financial Institutions, and the bipartisan Wisconsin Technology Council have worked together to encourage investment in Wisconsin business via both grants and with investor tax credits. More...
2010 Mid-Year Review
Although this year is half over, we have already seen legislation with major tax law changes, and more are almost certainly on the way. The following are some of the items passed this year, and we hope to get you thinking about tax planning moves you want to make before 2010 is over. More…
Health Care Tax Credit
Health coverage legislation enacted this year includes a Small Business Health Care Tax Credit to help small businesses and small tax-exempt organizations afford the cost of covering their employees. More…
The Hire Act
The Hiring Incentives to Restore Employment (HIRE) Act was signed into law on March 18, 2010. This act is intended to encourage employers to create and fill new employment positions. More…
Household Employees – Employment Taxes
Household Employees, also called Domestic Employees, include housekeepers, maids, babysitters, gardeners and others who work in or around your private residence as your employees. More…