by Monika Hengesbach | Jul 4, 2024 | Uncategorized
I remember when my daughter was young, and she wanted to do EVERYTHING. Every type of sport, dance, camp; we did it. She had a blast! My wallet, not so much. It only took one year of spending this kind of money when I realized I could take advantage of a great tax...
by Monika Hengesbach | Jul 4, 2024 | Uncategorized
What is an Accountable Plan? Per the Internal Revenue Service, an accountable plan “allows an employer to reimburse employees on a non-taxable basis when certain requirements are met.” Those requirements, discussed in more detail, are business connection,...
by Monika Hengesbach | Jul 4, 2024 | Uncategorized
I owe, I owe, so off to work I go! According to a recent study by TransUnion, those in their early 20s are grappling with lower earnings, higher debt, and increased delinquency rates compared to their Millennial counterparts at the same age. This alarming trend begs...
by Monika Hengesbach | Jun 12, 2024 | Uncategorized
Why hiring your children might be a good idea? When hiring your children to work in your business, you get to write-off their salaries. Your children must pay taxes on their salary only if it exceeds the standard deduction amount for that year. As a parent, we know...
