Income Tax

 Cannabis and Taxation – Where We Stand Today

November 22, 2017 

Cannabis and Taxation – Where We Stand Today

For those of you that are in the cannabis industry or just starting out, you have no doubt either been hit with a large tax bill or you are about to be. However, it doesn’t have to be that way. There are many steps that you can take legally just by ...

Craig Smalley

 Workers Who Quit Their Jobs Earn More?

November 7, 2017 

Workers Who Quit Their Jobs Earn More?

Job holders' wages grew by 4.4 percent and job switchers' wages grew slightly less by 3.3 percent year over year in the third quarter. On average, job holders' hourly wage levels were $10 more than that of job switchers. Tracking full-time workers ...

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November 7, 2017 

How to Get Ready for 2018 Income Tax Season and Get a Fast Refund

The IRS urges all taxpayers to file a complete and accurate tax return by making sure they have all the documents before they file their return, including their 2016 tax return. This includes Forms W-2 from employers, Forms 1099 from banks and other ...

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November 2, 2017 

Examining the GOP Tax Reform Proposal

The current graduated seven-bracket structure would be reduced to four rates of 12%, 25%, 35% and 39.6%. The previous plan was based on only three brackets with a top rate of 35% and didn’t specify income amounts. Thus, this new plans preserves the ...

Ken Berry, JD

 2018 Minimum Wage Changes  – State-By-State

November 2, 2017 

2018 Minimum Wage Changes – State-By-State

Twenty-seven states — plus Washington, D.C. — index their minimum wages to rise automatically with the cost of living. More states will index minimum wage increases annually, starting in the following years, like: Minnesota (2018), Michigan (2019) and ...

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November 2, 2017 

Income Tax Penalties Can Add Up

The amount of the penalty is based on when you file the correct information return or furnish the correct payee statement. The penalty for not filing a correct information return is separate from the penalty for not providing the correct payee statement.