Final Rule: Overtime Update On September 24, 2019, the U.S. Department of Labor announced a final rule to make 1.3 million American workers newly eligible for overtime pay. The final rule updates the earnings thresholds necessary to exempt executive, administrative and professional employees from the Fair Labor Standards Act’s (FLSA) minimum wage and overtime pay… Read More

Every year we deal with clients that feel they don’t get enough back, or the opposite – the IRS is holding too much of our money. This is not a one size fits all answer. Take the time to check your withholdings every year. The IRA is providing a very useful Tax Withholding Estimator for… Read More

Every small business owner knows that running a successful small business is difficult. We want to remind our small business clients that claiming a home office deduction can help — and there are a couple of ways to do that. Do I Qualify for the Deduction? There are several ways to qualify for the home… Read More

Are you one of those people who is terrified of the IRS? Have a whole closet in your home dedicated to the last 20 years of tax returns? Scared to throw anything away? But is that reasonable? As far as taxes are concerned the IRS spells it out this way: The length of time you… Read More

Many people are still confused by the new tax cuts, and what it means to them. If you have college aged students or 529 Savings Accounts, here’s a quick look into the changes. Tuition waivers remain in place Graduate students still won’t have to pay income taxes on the tuition waiver they get from their… Read More

The end of the year is approaching.  There are two good things to review every year to help with your financial knowledge and growth.  One is reviewing your social security statements. The other is to review your credit report. Social Security statements – receive a yearly Social Security statement.  Good tool to have to estimate… Read More

The IRS and the Treasury Department have unveiled a new postcard-sized version of the Form 1040, planning to replace the current 1040, 1040A and 1040EZ for the next tax season. According to the Internal Revenue Service they removed everything except for the strictly necessary information, and placed it on supplemental schedules.   The new 1040… Read More

School starts in August and with it come all of the shopping trips – new school clothes, school supplies, new computers, and a host of other things. Imagine a world where for just a few days there was no sales tax. Think about how much money you could save. Well, you are getting your wish!… Read More

Driving to a client meeting, running to the post office and stopping at the bank can rack up the miles. Business mileage deductions can really add up, so if you or your employees are using a vehicle for business purposes, you may qualify for a business mileage deduction on your tax returns. What is a… Read More

Sound fiscal management and a strong economy have resulted in a state budget surplus of almost $400 million for the State of Wisconsin. Governor Walker and the State Legislature have determined that some of the surplus should be returned to the taxpayers in the form of a Child Sales Tax Rebate. It is a $100… Read More