Sharon Heinz

  • Get Ready For taxes: Part III

      Get Ready For Taxes: Part III Important Things to Know About Refund Refunds   As tax filing season approaches, it is important to be ready for taxes. The Internal Revenue Service cautions taxpayers not to rely on receiving their refund by a certain date, especially when making major purchases or paying bills. Some tax…

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  • Get Ready For Taxes : Part II

      Get Ready For Taxes: Important Things to Know About Tax Credits Part II   Child Tax Credit   There are a number of things you can do to help get ready for taxes. Taxpayers can claim the Child Tax Credit if they have a qualifying child under the age of 17 and meet other…

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  • Get Ready for Taxes: Important things to know about tax credits

    Part 1   With the tax filing season quickly approaching, the Internal Revenue Service recommends taxpayers take time now to determine if they are eligible for important tax credits. It helps to get ready now. This is the second in a series of reminders to help the taxpayers Get Ready for the upcoming tax filing…

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  • 401(k) contribution limit increases

    401(k) contribution limit increases   The contribution limit for any employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan increases from $19,000 to $19,500. The catch-up contribution limit for employees aged 50 and over who participate in these plans increases from $6,000 to $6,500. The limitation regarding SIMPLE…

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  • How to Legally Dissolve a Corporation

    How to Legallty Dissolve a Corporation   “Dissolution” is the act of formally dissolving (closing) a business entity with the state. It involves far more than just stopping to sell products and services. Dissolution is a process for wrapping up all legal and financial aspects of the business and legally terminating its existence in the…

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  • Travel Tax Tip

    Do you travel a lot with your business, or even as little as once a year? Some airlines require a weekend stay over for the lowest fair. Hers’s a travel tax tip to help. #1 Tip:   On a business trip, you can deduct 100% of the cost of travel to your destination, whether that’s…

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    Flexible Spending Accounts (FSA) and Small Business

    Open An Flexible Spending Account (FSA) For Your Small Business   Did you know, a small business can set up a Flexible Spending Account for individual employees’ medical expenses. FSA plans are established and offered through an employer for the benefit of the employees. These funds are not subject to federal income or Social Securty…

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    Audit Within Your Small Business

    Why Is My Small Business Under Audit?   Ever wonder why YOUR small business was targeted for an audit. See below the top reasons why you might have been a candidate. As a small business owner you are 4 times more likely to be audited than a W2 wage earner. How are you chosen to…

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    Tax Withholding Estimator

    Double Check Your Paychecks With This Tax Withholding Estimator   All taxpayers should use the new Tax Withholding Estimator to do a Paycheck Checkup. This tool helps people make sure their employers are taking out the right amount of tax from the employee’s paychecks. The money withheld from an employee’s paychecks throughout the year should cover the amount…

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