Tax Preparation, Insurance, Payroll, Medicare and Business Advisement in Jamestown NY
You have many ways to save for retirement using tax-favored accounts. Three of the most common are a traditional IRA, a Roth IRA, and a 401(k)-type qualified plan. A traditional IRA is an account that holds assets for retirement. If you contribute … [Read more...] about Saving for Retirement
Certain Income Not Excludable Under the law, certain U.S. citizens or resident aliens, specifically contractors or employees of contractors supporting the U.S. Armed Forces in designated combat zones, may now qualify to use the foreign-earned … [Read more...] about Combat-Zone Workers
Thinking about hiring minors in New York State?In New York, the labor laws are designed to protect the well-being of our young workforce. Here are the working hour restrictions for minors: Ages 14-15: Ages 16-17: Remember, the … [Read more...] about Labor Laws for Minors in New York State
Tax-saving strategies Sole proprietors may be able to reduce their tax burden by hiring their children, spouse, or parents to work as bona fide employees. There are three ways to save tax dollars for the business owner. First, sole proprietors … [Read more...] about Hiring Family Members
Which is best for your business? All business owners hope to succeed at scoring good talent. Now, should that accomplishment come from hiring an employee, enlisting the services of an independent contractor, or both? An employee is a smart … [Read more...] about Employee vs. Independent Contractor
A new credit is available for energy-efficient home improvements that began after Jan. 1, 2023. The credit is equal to 30% of qualified expenses, including: The maximum credit that can be claimed each year is: There’s no … [Read more...] about Energy-Efficient Home Improvement
