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Businesses with Tipped Employees May Qualify for the FICA Tip Credit
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Basics of the Credit The FICA credit applies with respect
How Taxes are Handled When Providing a Company Car
The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This perk results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars. (And of course, they get the nontax benefit of getting
Some Tax Limits Affecting Businesses Have Increased for 2022
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. Social Security Tax The amount of an employee’s earnings that is subject to Social Security tax
Educate Your Children on Wealth Management
If you’ve worked a lifetime to build a large estate, you undoubtedly would like to leave a lasting legacy to your children and future generations. Educating your children about saving, investing and other money management skills can help keep your legacy alive. Teaching Techniques There’s no one right way to
Dalby, Wendland & Co., P.C., Announces Staff Promotions
DWC is pleased to announce the following promotions: Matt J. Bieberly, CPA, to Audit Manager Matt joined Dalby Wendland’s audit team in the spring of 2021. Before his return to public accounting, Matt spent a decade leading the SEC and corporate accounting teams at a publicly-traded gas utility company in
Q1 2022 Tax Calendar: Key Deadlines for Businesses and Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more
Taxes and Relocating to Another State in Retirement
Are you considering a move to another state when you retire? Perhaps you want to relocate to an area where your loved ones live or where the weather is more pleasant. But while you’re thinking about how many square feet you’ll need in a retirement home, don’t forget to factor
Estate Planning for the Young and Affluent Can be Tricky
Events of the last decade have taught us that tax law is anything but certain. So how can young, affluent people plan their estates when the tax landscape may look dramatically different 20, 30 or 40 years from now — or even a few months from now? The answer is
DWC Professional Attains CAAS Certification
Dalby, Wendland & Co., P.C., (DWC) is pleased to announce Client Accounting Services’ Specialist Denise Distel was recently awarded the Client Accounting Advisory Services (CAAS) Certificate from the American Institute of CPAs. CAAS certification verifies competency in best practices for delivering outsourced back-office accounting and virtual CFO and controller services
IRS to Send Economic Impact Payment and Advance Child Tax Credit Letters
If you received Economic Impact Payments (EIPs) or advance Child Tax Credit (CTC) payments in 2021, expect to hear from the IRS in January. Letters will be mailed, listing the total EIPs or CTC payments you received. Keep the letters with your tax records and provide to your accountant for