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The difference between contractors and employees It’s vital for all employers to properly distinguish between what constitutes an employee and an independent contractor in order to ensure that everyone receives the proper tax treatment. Independent contractors are generally defined as those who are in an independent trade, business or profession in which they offer services

March Madness will soon be upon us. If you’re lucky enough to head to Las Vegas to gamble on college basketball, here’s what you need to know. Gambling winnings are fully taxable and reported on your tax return, while gambling losses are allowed as a deduction only to the extent of winnings. Winnings are reported

When cleaning out your household files, make sure you don’t throw out items that you might need in the future! The main reason to save tax records is to substantiate the information reported on your tax return. For most federal returns, the statute of limitations—the time frame the IRS has to audit a tax return—is

Fraudulent activity is on the rise Approximately 1 in 18 Americans have their identities stolen each year. Among the many identity theft scams is an emerging hoax in which cybercriminals obtain remote control of computer systems to hack into sensitive employee information to steal identities. Thieves will then use a stolen social security number to

By James Olsen CPT Office work can wreak havoc on your fitness levels and extended periods of time on the computer can alter your posture permanently over time, and cause neck and back pain. In addition, office work although sedentary, is often loaded with stress and deadlines. Here are a few simple things you can

How to avoid being a victim Each year, tax scams seem to run more and more rampant, making proper security and privacy protocols critically important. According to the Bureau of Justice statistics, approximately 1 in 18 Americans have their identities stolen each year. With such a consistent rise in identity theft and tax scams, it’s

IRS requires me to ask you more questions In an effort to prevent taxpayers from improperly claiming the Child Tax Credit (CTC) and American Opportunity Tax Credit (AOTC), the IRS is implementing additional preparer due diligence requirements and requesting preparers to verify more information from clients who may be eligible to claim these credits. Because

By Philip Taylor It’s time once again to start giving some thought to paying taxes. Who’s excited? Okay, even though it may feel like a chore it’s wise to do a little analysis at the end of the year to see if there are any year end tax planning moves you need to make. Remember, corporate

Welcome to the first blog from Business to Business Solutions, Inc.   It is my hope that this blog will be a useful resource tool for your business and your business’s growth.  Along with tax and accounting issues, this blog will cover other topical issues that affect our small businesses such as insurance, banking, marketing and