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08Aug2017

Picnics, Flowers & Fruit: Enjoy These Tax-Free Benefits

Job well done! Let’s have a picnic. Tax regulations allow employees to receive certain tax-free de minimis fringe benefits. Examples of de minimis fringe benefits include occasional cocktail parties, group meals, or picnics for employees and their guests; birthday or holiday gifts of property (not cash) with a low fair market value; occasional theater or sporting event tickets; coffee, doughnuts,
  • 8 Aug, 2017
  • Karina Torres
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04Aug2017

Taking the Next Step: Why Your LLC Needs an Operating Agreement

When you form an LLC, you need to draft articles of organization that comply with the state’s LLC act and then file the articles with the appropriate state office. However, the articles of incorporation are broadly worded and likely don’t address members’ rights and responsibilities. Therefore, it is essential to consider the extra step of
  • 4 Aug, 2017
  • Karina Torres
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31Jul2017

Tax Reform Will Hit Affluent Americans the Hardest

Americans earning between $149,400 and $307,900 stand to lose the most as a result of tax reform according to a new study done by the Tax Policy Center (“the Center”). The Center predicts that one-third of nearly 19 million households within that income bracket will see their tax bill increase by $3,000-$4,000 a year. Overall,
  • 31 Jul, 2017
  • Karina Torres
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26Jul2017

Payroll Taxes – Beware the Pitfalls of Avoidance (Part 2)

The IRS has become aggressive in its effort to collect unpaid payroll taxes. Payroll taxes are the taxes paid on the wages and salaries of employees. They are used to finance social insurance programs, such as Social Security and Medicare. An employer is responsible for paying half of payroll taxes (7.65%) while the other half
  • 26 Jul, 2017
  • Karina Torres
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16Jun2017

Audit Proof Your Business Deduction for Entertainment Expenses

Nearly every business can utilize the business deduction for meal and entertainment expenses. Wining and dining clients is a common long-standing tradition used to cultivate business. Sharing a meal with someone away from the office can create a relaxed and intimate setting that lends itself to fostering personal connections that can then lead to business
  • 16 Jun, 2017
  • Karina Torres
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26Apr2017

President Trump Signs Executive Order Targeting H-1B Visas

On April 18, 2017, President trump signed the “Buy American, Hire American” Executive Order on the premise that the H-1B program is taking away jobs from American workers. H-1B visa workers do not take jobs away from U.S. workers and the program does not drive down wages, but rather is filling gaps in America’s workforce. The
  • 26 Apr, 2017
  • Karina Torres
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20Apr2017

Tax 101 Series: To Itemize or Not To Itemize, That is the Question

    Every year you have the option to take the standard deduction or to itemize deductions on your tax return. Depending on your circumstances, one may make more sense than the other. The Standard Deduction The standard deduction is a fixed dollar amount that reduces the income you’re taxed on. This fixed amount depends
  • 20 Apr, 2017
  • Karina Torres
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19Apr2017

Payroll Taxes – Beware the Pitfalls of Avoidance (Part 1)

Payroll taxes are the taxes paid on the wages and salaries of employees. They are used to finance social insurance programs such as Social Security and Medicare. An employer is responsible for paying half of payroll taxes (7.65%) while the other half should be withheld from employees’ paychecks and deposited to the IRS at regular
  • 19 Apr, 2017
  • Karina Torres
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03Mar2017

Trump’s first 100 days.

During Trump’s first 100 days in office, many changes have been implemented, including the immigration policies that he promised in his presidential campaign. On February 21, the Trump administration did away with most of Obama’s policies by releasing two memorandums from Homeland Security Secretary John Kelly. The memorandum on border security beefs up Customs and
  • 3 Mar, 2017
  • Natasha Ramirez
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