The long-standing practice of automatically charging you a 15 – 20% gratuity at your favorite restaurant is changing as we speak. The practice of charging customers for tips is normally applied to large parties (tables of 8 or more) or…
Month: October 2013
I’m Being Audited!
Less than 2% of over 145 million individual tax returns filed during 2012 will be selected for audit. The percentage increases for higher income groups and tax returns in areas of specific interest to the IRS. If you should receive…
Reduce Your Income: Hire Your Kids
If you own your own business, by hiring your children you can save in the following ways: Salaries paid to children under 18 are not subject to Social Security or unemployment taxes (in most states). No Federal withholding taxes are…
Couples Deemed Married for Federal Tax Purposes
Recent U.S. Dept. of Treasury and IRS Ruling The U.S. Treasury Department and the IRS issued a new ruling as a direct result of the Supreme Court action on June 26th regarding same-sex couples. In short: Under the ruling any…