PWCPA Blog

Any taxpayer that has income that is not subject to withholding may need to make quarterly estimated income tax payments. If you have just started a new business or have income from investments, you need to determine if you are required to file tax estimates. Failure...

If you are operating your business as a partnership, you should have a written partnership agreement. This is true for family partnerships as well. The need for a partnership agreement can be summed up in two words: things change. You and your partner/s may agree...

Navigating payroll obligations is crucial for employers to comply with IRS regulations. Here’s a comprehensive guide on essential tips provided by the IRS to ensure smooth payroll management. Understanding Payroll Tax Deposits: Employers must understand the...

The IRS wants to educate new small business owners about their federal tax responsibilities. “Understanding and meeting their tax filing requirements is one of the biggest challenges faced by people starting out in business,” says the head of the IRS Small Business...

The U.S. Supreme Court will soon issue its ruling on the health care legislation — the “Patient Protection and Affordable Care Act” — passed in 2010. Over half the individual states have challenged the constitutionality of the law that requires individuals to obtain...

Spring and summer — the wedding season is upon us. Before walking down the aisle, take a minute to consider a serious matter. Couples often enter into marriage without ever having had a discussion about financial issues. As a result, they find themselves frequently...

The IRS has published depreciation limits for business vehicles first placed in service this year. Because 50% bonus depreciation is allowed only for new vehicles, these limits are different for new and used vehicles. For new business cars, the first-year limit is...

It’s that time of the year again, the weather is starting to heat up and you are about to do some spring cleaning. When you are done cleaning out the deep dark parts of your closet and you now have items that you want to donate to charity, remember that donations of...

Once you have filed your 2011 tax return, you may still have a few tax questions. The IRS provides these answers to commonly asked questions. * How can I check the status of my refund? You can go online to check on your refund. Go to www.irs.gov and click on “where’s...