Newsletter

What Rates Does the Fed Set? The Fed has the authority to set several interest rates, but the one that has the biggest impact on much of the economy is the federal funds rate. It is, in a sense, the most fundamental interest rate in the U.S. economy. Banking regulations require large depository institutions, which […]

Understanding the Current Housing Market First, it’s important to understand the current state of the housing market in the United States. Across the board, the main concern seems to be the affordability (or lack thereof) of housing. In the past few years alone, inflation has led to incredibly high home prices. This, combined with record-high

Who Should Review Their Tax Withholding? All taxpayers should take the time to review their withholding at least once during the year. However, those who are especially prone to underpayment and other withholding mistakes include those who earn income that’s not already subject to tax withholding. This is common for 1099 workers, such as independent

Key considerations for data security Fortunately, ensuring data security is achievable with the right strategies. Here are some steps you should consider taking: Data backups: Regularly back up your data to secure off-site locations. Cloud storage services by reliable providers are a good choice. Consider using external hard drives or network-attached storage (NAS) devices. These

What Is the Employee Retention Credit? The ERC allows eligible taxpayers to claim a refundable payroll tax credit based on “qualified wages” paid to employees during certain periods between March 13, 2020 and December 31, 2021. The amount of the credit is equal to 50% of the qualified wages, up to a maximum of $10,000

Potential Risks of Tech Acceleration Here are some of the potential risks associated with rapid tech acceleration: Security vulnerabilities: Advanced technologies are still nascent and often come with several undetected security flaws. Hackers can exploit these weaknesses to steal your data or launch a cyberattack. Pro tip: Make security assessments a standard practice before implementing

What Is the R&D Payroll Credit? The R&D payroll credit was first offered by the IRS as a means of incentivizing businesses to funnel more money into research, development and innovation. Specifically, this nonrefundable tax credit makes it possible for some businesses to reduce their tax liability dollar-for-dollar. Likewise, this credit offers approximately 13 cents

Top business benefits of partnering with a great IT service provider Partnering with a great IT service provider can bring numerous benefits to your business, including: Strategic alignment Great IT service providers not only possess a deep understanding of current technologies but also have the foresight to anticipate future trends. They work closely with your

Medical Expense Deductions For dependents with medical expenses that have not been reimbursed by an insurance plan, deductions may be available. Specifically, medical expense deductions are available for qualifying medical expenses that exceed 7.5% of a caregiver’s adjusted gross income (AGI). Generally, this deduction is most useful for those who have accumulated significant medical expenses

Who Is Entitled to Overtime Pay? Section 7 of the FLSA states rather broadly that employers must pay employees time-and-a-half for work above 40 hours per week. This applies to all employees unless they fall under an exemption identified in § 13 of the statute. What Is the EAP Exemption? Section 13(a)(1) of the FLSA