Archive: June 2016

 

Teaching kids about saving and spending

Teaching children how to save for the future shouldn’t be something we are afraid to do – it can be quite easy to accomplish. Using real-life situations can often times create the best teaching opportunities.  Remember, kids model behavior that they observe, which casts the part of financial role model on the parent. Before you […]

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Why do we celebrate the 4th of July?

We celebrate American Independence Day on the Fourth of July every year. We think of July 4, 1776, as a day that represents the Declaration of Independence and the birth of the United States of America as a nation, as we proclaimed independence from Great Britain.  However, the dates don’t quite match up.  The Continental […]

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Why do I have to pay tax estimates?

Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes and awards. You also may have to pay estimated tax if the amount of income tax being withheld from your salary, pension, […]

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Misclassification of Subcontractors

Maybe you have heard some talk about misclassification of subcontractors or are wondering how this could affect you. In the following excerpts from the TaxSpeaker newsletter, CPA Bob Jennings addresses some concerns/issues that have come to light.   We have been receiving some disturbing reports from around the country of aggressive audits in the employee area, […]

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Have you heard about the upcoming changes to overtime and salary pay?

I have to admit that my jaw dropped; and I stood there in disbelief when the new overtime and salary laws came to my attention! The current law allows a person making just the equivalent of $455 a week to be paid on salary. But as of December 1, 2016, that same person would need […]

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