by Steven J Weil, PhD, EA, LCAM | Mar 12, 2022 | Blog, Business Tax, Personal Tax
IR 2022-45, 3/1/2022 In an information release, the IRS has remined taxpayers of their reporting and potential tax obligations from working in the gig economy. Gig economy earnings are taxable. Generally, income earned from the gig economy is taxable and must be...
by Steven J Weil, PhD, EA, LCAM | Oct 29, 2021 | Blog, Business Tax, Personal Tax
November 1, 2021 Dear Friends, For the first time in 40 years, taxes on income and wealth transfers may be headed higher, making tax planning more important than ever. As a client of RMS Accounting, we are pleased to offer you a FREE year-end tax planning appointment....
by Steven J Weil, PhD, EA, LCAM | Sep 23, 2021 | Business Tax
Do you know what the minimum wage is for your state? Federal minimum wage requirements are enforced by the department of labor, but there often state requirements as well and who enforces these depends on the state your employees are located in. To find the current...
by Steven J Weil, PhD, EA, LCAM | Sep 17, 2021 | Blog, Business Tax
Rounding to Replace ‘Bracket System’ in Calculation of Florida Sales and Use Taxes As a result of recent legislation, the “bracket system” for calculating sales tax and discretionary sales surtax in the State of Florida is replaced by a rounding algorithm. Effective...
by Steven J Weil, PhD, EA, LCAM | Aug 10, 2021 | Blog, Business Tax
The IRS has updated Frequently Asked Questions (FAQs) on the paid sick and family leave tax credits under the American Rescue Plan Act of 2021 (ARPA). The updates clarify that eligible employers can claim the credits for providing leave to employees to accompany a...
by Steven J Weil, PhD, EA, LCAM | Jul 28, 2021 | Blog, Business Tax
Corporation Liable for Payroll Tax That Should Have Been Paid to Officers: Mr. and Ms. Hacker were co-owners of Blossom Day Care Centers, Inc. (Blossom). In addition, the Hackers were sole shareholders of Hacker Corp. that provided management services to Blossom....
