Author Archives: diane

Summer Employment for Your Child

Summer Employment for Your Child

Article Highlights Higher Standard Deduction IRA Options Self-Employed Parent Employing Your Child Tax Benefits Summer has arrived, are your children looking for a summer job. The standard deduction for single individuals increased from $12,550 in 2021 to $12,950 in 2022, meaning your child can now make up to $12,950 from working without paying any income […]

Getting Started with Reports in QuickBooks Online

You should be running reports in QuickBooks Online on a weekly—if not daily—basis. Here’s what you need to know You can do a lot of your accounting work in QuickBooks Online by generating reports. You can maintain your customer and vendor profiles. Create and send transactions like invoices and sales receipts, and record payments. Enter […]

You May Need to File Estimated Tax Payments

Article Highlights: Employees Self-Employed Individuals Quarterly Payments Underpayment Penalty Safe Harbor Payments Estimated tax payments are not just for the self-employed. They are for anyone whose withholding and tax credits are significantly less than their projected tax liability, and if used properly, can protect a taxpayer from underpayment penalties. Employees who will have income, Social […]

Relocating? How to Do It with Taxes in Mind

Relocating? How to Do It with Taxes in Mind If you’re thinking about moving from your current locale, you’re not alone. Americans are on the move for many different reasons:  Remote work is increasingly popular and allows employees to live wherever they have access to WiFi. Tax changes introduced by the 2017 Tax Cuts and […]