Social Security & Medicare (FICA) taxes
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Spouse-run businesses face special tax issues
Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue. An unincorporated…
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The tax advantages of hiring your child this summer
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have…
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You may be liable for “nanny tax” for all types of domestic workers
You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener…
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Employers: In 2023, the Social Security wage base is going up
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for…
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How disability income benefits are taxed
If you’ve recently begun receiving disability income, you may wonder how it’s taxed. The answer is: It depends. The key issue is: Who paid for…
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Help when needed: Apply the research credit against payroll taxes
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect…
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