Having Two Sets of Books

Did you realize that some companies actually utilize two sets of books? Companies often have a set of books for income taxes and one to comply with Generally Accepted Accounting Principles (GAAP). There are numerous differences that exist between accounting for income taxes and GAAP.

Maximizing Your Charitable Contributions

Here are some helpful points to consider when making charitable contributions to ensure you get the most for your contribution. Verify nonprofit status For charitable contributions to be deductible they must be made to qualified organizations. The organization must be recognized as a

Tax Benefits of Hiring Your Children

Hiring your children may be an advantageous way to shift income to a lower tax bracket. However, certain rules must be followed to ensure the IRS allows these tax savings. The Benefits: Tax Rates Wages that are paid to children, as with any other wage, are tax deductible for the busin

Missouri Tax Credits

Are you facing a large Missouri tax liability this year? Does paying 6% less seem too good to be true? It is possible and easier than you think. We currently have hundreds of clients utilizing these credits to save thousands of dollars in Missouri taxes. We have obtained Missouri tax

5 Things to Consider When Preparing Employee W-2’s

Year End W-2 Additions As the year is winding down, there are many items to be considered before filing W-2’s for the year. Below are some items that need to be considered before you or a payroll company prepares your W-2’s. Health Insurance All health insurance premiums p