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Help Employees Understand Health Care Accounts
Many businesses now offer various types of healtchare accounts that reimburse employees for medical expenses on a tax-advantaged basis. These include health Flexible Spending Accounts (FSAs), Health Reimbursement Arrangement (HRAs) and Health Savings Account (HSAs, which are usually offered in conjunction with a high-deductible health plan). Employees should get the
Matt Leach Joins DWC as New Firm Administrator
Dalby, Wendland & Co., P.C. (DWC) is pleased to announce Matt Leach as the firm’s new Administrator. Matt brings several years of experience in the accounting industry, including time as a financial statement auditor before becoming the Firm Administrator and Client Accounting Services Director for a rural accounting firm in
Q4 2020 Tax Calendar
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. 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
Tax Planning Considerations as we Continue to Navigate COVID-19
Paige A. Curtiss, CPA COVID‐19 has undoubtedly wreaked havoc on our lives. It is easy to get wrapped up in the day‐to‐day stress that the virus has created, but you will thank yourself in the future if you take a step back and utilize planning opportunities available to
Avoid These 5 Common Accounting Software Mistakes
No company can afford to operate without the right accounting software. When considering whether to buy a new product or upgrade their current solutions, however, business owners often fall prey to some common mistakes. Here are five gaffes to avoid: 1. Relying on a generic solution. Some companies rush into
Manage Your Supply Chain Risks
When the COVID-19 crisis exploded in March, among the many concerns was the state of the nation’s supply chains. Business owners are no strangers to such worry. It’s long been known that, if too much of a company’s supply chain is concentrated (that is, dependent) on one thing, that business
Revise Your Estate Plan if Divorcing
If you’re going through a divorce, you probably feel a little overwhelmed by all the legal and financial items you must attend to before the marriage termination is final. These tasks can be difficult, but revising your estate plan doesn’t have to be. What the Law Says Divorce generally extinguishes
Stress Test Your Business
During the COVID-19 crisis, you can’t afford to lose sight of other ongoing risk factors, such as cyberthreats, fraud, emerging competition and natural disasters. A so-called “stress test” can help reveal blind spots that threaten to disrupt your business. A comprehensive stress test requires the following three steps. 1. Identify
Do I have to pay tax on Social Security benefits?
If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if so, how much will you have to pay? It depends on your other income. If you’re taxed, between 50% and 85% of your benefits could be taxed. (This doesn’t mean
Keep Family from Contesting Your Will and Estate
You’ve probably seen it in the movies or on TV: A close-knit family gathers to find out what’s contained in the will of a wealthy patriarch or matriarch. When the terms are revealed, a niece, for example, benefits at the expense of her uncle, causing a ruckus. This “bad blood”