Listen in to learn more of what cash vs. accrual basis is and its background.

Although Roth IRAs have been around for 20 years, people still have not used them to their maximum benefit. Roth IRAs allow individuals to contribute after-tax money, get tax free (not deferred) earnings and have no requirements that the amount begin to be distributed at age 70 ½.

Kids Wages/Business and Retirement Plans by Tax Insights with Hawkins Ash CPAs

As we get into the middle of tax season, returns are being filed and refunds are issued. But did you know that there are factors that can affect the timing of your refund?

Learn about them here.

When a young person gets a job for the first time, it amazes them how much comes off in taxes. They make $10 per hour and work 20 hours per week. They expect to get a $200 paycheck, but instead they only get $150 after taxes. Today, I want to talk about payroll taxes and how taking advantage of your employer’s benefits can reduce the tax.

On December 10, the IRS published a notice which detailed how the IRS planned on implementing the part of the Tax Cuts and Jobs Act for “qualified parking” benefits to employees. As the rules are currently written, there will be many parking lot expenses that will be not-deductible for 2018.

As a business owner, did you know that you might be required to send Form 1099s to your vendors and that your customers may be required to send them to you?

According to the Wall Street Journal, the average college graduate has student loan debt of over $37,000, and as a group, the Federal Reserve Bank of New York says the amount is over 1.3 trillion dollars. This student loan debt is really affecting the new graduate’s ability to start their lives and even buying a home.

Starting a college savings plan can help reduce this debt and help with the student loan crisis.

You Have Received an Inheritance – Now What? by Tax Insights with Hawkins Ash CPAs

Whether you are an employee or you own your own business, retirement plans can be the best way to retire with dignity. With fewer companies offering pensions, it is really important that we save on our own for our own retirements. That being said, although workers are getting better, most still need to contribute more.