401 K is one of the most popular retirement savings option available for employees. Using a 401 K plan can help speed up building your retirement nest egg. In order to take advantage of this program, it is best to review your contributions before the end of the financial year and rebalance it if youRead more about 401 K 2018 Tax Tips[…]
Employee vs Contractor – which is the right classification? As a business owner, you may be managing a few special projects that may require hiring an expert. Many situations, employers classify contractors as employees and vice versa without understanding the primary criteria that the Internal revenue service uses to distinguish employees vs independent contractors. So,Read more about Employee vs Contractor – which is the right classification?[…]
Six Tax Tips for New Business Owners Starting a business is a big step in your career. In addition to developing, marketing and selling your product /service an important step is to understand the tax compliances which are critical for your business’s success. Below are few quick tips that you may find useful as aRead more about Six Tax Tips for New Business Owners[…]
Part I –What is a 401 (k) plan and how you can save taxes by contributing to a 401 (k) plan? If your employer offers 401 (k) plan but if you have never contributed to a 401 (k) plan, think again. This article outlines few basic key points that may be helpful & will provideRead more about What is a 401k plan and how you can save taxes by contributing to a 401k plan?[…]
How to handle IRS tax notice after filing taxes? After filing tax returns, you may receive a tax notice from the IRS. There is no need to panic, check out these quick guidelines : There are few types of tax notices : Informational: Almost all notices of this type, clearly state there is noRead more about How to handle IRS tax notice after filing taxes?[…]
What are Health Savings Accounts (HSA) ? Health savings accounts are savings accounts that allow you to contribute pre-tax dollars to pay for qualified medical expenses. Overall healthcare costs can be lowered if they are used to pay for deductibles, co-pays and coinsurance amounts. You can contribute towards HSA only if you have a HighRead more about What are Health Savings Accounts (HSA) ?[…]
