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Tip Tax Credit

Utilizing the FICA Tip Tax Credit

  • January 24, 2022
  • Tax

It’s not new news that the pandemic has been tough on restaurants. If you own a business where tipping is customary for providing food or beverages, you may be able to offset some of your income tax liability by claiming…

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Mom Happy For Child At Computer

Is That Scholarship Taxable?

  • January 12, 2022
  • Tax

If you’re sending your child off to college, you’re looking for any way you can save money. When your child qualifies for a scholarship, it’s a cause for celebration! Just be aware of the possible tax ramifications so you don’t…

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Employee Paycheck Minimum Wage

State Minimum Wages for 2022 Exceed Federal Rate

  • December 23, 2021
  • Tax

In today’s tight labor market, it’s hard to remember that the federal minimum wage remains at $7.25 per hour, where it’s been since 2009. Hardly any employers are able to attract and retain employees at that rate, and 30 states…

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Exchange Traded Funds

Know the Tax Treatment of Exchange Traded Funds

  • December 20, 2021
  • Tax

Exchange traded funds (ETFs) have exploded in popularity over the past few years, with around $5.4 trillion held in net assets in 2020. If you’re investing in ETFs, it’s important to understand the tax angles. Comparison to Mutual Funds Let’s…

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