Beginning in 2024, student loan payments can be treated as retirement contributions for the purpose of qualifying for matching contributions in a workplace retirement account. Employers will be able to make contributions to their company retirement plan on behalf of employees who are paying student loans instead of saving for retirement. Employers may rely on…… Read More

Growing a business is an exciting journey, but it comes with its own set of challenges. One effective strategy to overcome these hurdles and scale efficiently is outsourcing. In this newsletter, we’ll explore how outsourcing can be a game-changer for your business, allowing you to focus on what you do best while experts handle the rest.…… Read More

Summer is here, and it’s the perfect opportunity to revamp your business strategies and boost your savings. Here are some tips and strategies to help business owners maximize their savings this season. 1. Streamline Your Operations: Analyze your current processes and pinpoint areas where you can eliminate waste. Implementing automation tools can save both time…… Read More

Certainly, this tax season was a season of learning.  One of the areas needing attention is tax strategies for wage earners earning over $100,000.  I discovered many of my clients within this income bracket are paying more in taxes and some clients incurred outstanding tax liabilities upon tax filing. Therefore, wage earners with incomes between…… Read More

Mid-year is a good time to review your form W-4. It allows time to make any necessary corrections. Reviewing your Form W-4 ensures that your tax withholding aligns with your current financial situation. Here are steps to review it: Update Personal Information: Make sure your name, Social Security number, and filing status are correct. Review…… Read More

Over the years, the form W-4 has been expanded and became more complicated and time consuming to complete.  Following the below steps should help and guide you through the completion of this form: Personal Information: Fill in your name, address, Social Security number (SSN), and filing status (Single, Married filing jointly, Married filing separately, etc.). Multiple Jobs…… Read More

I learned many lessons  during the 2024 tax season.  One of the learned lessons is educating my wage earner clients about the form W-4.  I found it necessary to share this topic because of the plight of one of my clients.  My client chose Alpha Business Services to prepare his 2023 tax return.  However, it…… Read More

The IRS has information to help you as homeowners take advantage of potential tax benefits for home improvements. If you make qualified energy efficient improvements to your home after Jan. 1, 2023, you may qualify for a tax credit up to $3,200. You can claim the credit for improvements made through 2032. In addition, renters…… Read More