by Steven J Weil, PhD, EA, LCAM | Jun 11, 2021 | Blog, Payroll Preparation
Some Key West Restaurants recently found out that the Department of Labor means business when they were assessed $162,000 is back wages for overtime violations. Employers need to keep good records of hours worked, comply with wage and hour regulations and properly pay...
by Steven J Weil, PhD, EA, LCAM | Jun 11, 2021 | Blog, Business Tax, Personal Tax
Below is a list tax bills introduced in Congress for which bill text became available between June 3 and June 10, 2021. The bill text for each bill can be accessed by clicking on the bill number. Individuals: H.R.2304 – Save Social Security Act of 2021. To...
by Steven J Weil, PhD, EA, LCAM | Jun 2, 2021 | Blog, Personal Tax
You open your mailbox and see a “scary” looking letter addressed to you from the IRS. It’s a notice of payment due. What should you do? Do not automatically assume the letter is correct and submit payment to make it “go away”. There have been many recent tax law...
by Steven J Weil, PhD, EA, LCAM | Jun 2, 2021 | Blog, Personal Tax
The idea of saving for retirement is drilled into our heads. 401(k)s or IRAs are where we stock away funds as we prepare for the day we say goodbye to the workforce. But did you know, the government actually requires you to take money out of those accounts once you...
by Steven J Weil, PhD, EA, LCAM | Jun 1, 2021 | Blog, Business Tax, Covid-19
Startup Businesses that began business activities after February 15, 2020 may be eligible to receive Employee Retention Credits of up to $50,000 per calendar quarter. The credit is part of the American Rescue Plan Act (ARPA), signed by President Biden on March 11,...
