by Tiffany Mellow | Jun 20, 2018 | Payroll, Personal Taxes
Employees beware! The new withholding tax tables that have been published may cause your employers to under withhold the federal tax from your paychecks. If your employer utilizes these new tables, they are doing nothing wrong. However, the tables incorporate the tax...
by Tiffany Mellow | Jun 13, 2018 | Personal Accounting
For any divorce decree that becomes final after 12/31/18, the alimony payments will no longer be deductible by the payor or taxed as income to the recipient. This only applies to new divorce decrees. Any alimony arrangement that exists prior to 2019 will be...
by Tiffany Mellow | Jun 6, 2018 | Personal Accounting, Personal Taxes
Many clients I have spoken with since tax season have incorrectly assumed the requirement to have health insurance coverage has been repealed. This is only partially correct. The requirement to carry health insurance on one’s self and every dependent in their...
by Tiffany Mellow | May 23, 2018 | Personal Accounting
Since the end of tax season, I have met with two new clients who are considering starting their own businesses. We discussed the benefits and disadvantages of many aspects of self-employment. I found it interesting that neither considered having a pension to be of...
by Tiffany Mellow | May 16, 2018 | Business Accounting, General, Non-Profit Accounting, Personal Accounting
When you operate a seasonal business, your workload is concentrated into a few months out of the year. The very nature of this beast makes it difficult to assemble a talented workforce. Most experienced employees desire year-round income. This limits the business to...
by Tiffany Mellow | Feb 21, 2018 | Business Tax Deductions, Business Taxes, Personal Tax Deductions, Personal Taxes
A deduction is available for money an employee spends to perform their duties in the course of their employment if they are unreimbursed by their employer. This includes mileage, licenses, union dues, education and out of pocket expenses. The expenses must be incurred...
