Tax Pro Plus
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Los Angeles, CA 90064
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- What’s Best, FSA or HSA?
- Many employers offer health flexible spending accounts (FSAs) and health savings accounts (HSAs) as part of their employee benefits packages. Both plans allow you to set aside money to pay medical expenses with pre-tax dollars, providing a significant tax benefit. But which is the better option?
- Divorced, Separated, Married or Widowed This Year? Unpleasant Surprises May Await You at Tax Time
- Taxpayers are frequently blindsided when their filing status changes because of a life event such as marriage, divorce, separation or the death of a spouse. These occasions can be stressful or ecstatic times, and the last thing most people will be thinking about are the tax ramifications. But the ramifications are real and need to be considered to avoid unpleasant surprises.
- Video Tips: You Might Consider a Health Savings Account
- If you have only a high-deductible health plan, you may be eligible to set up a tax-favored Health Savings Account (HSA). Learn more about HSAs and what benefits you may get along with them.
- 5 Ways QuickBooks Online Can Make You More Profitable
- QuickBooks Online can enhance your company’s bottom line by improving your cash flow, customer relationships, inventory balance, and your future.
- Tax Breaks for Hiring Your Children in Your Family Business
- Assuming a child is suitable for the job, a reasonable salary paid to a dependent child who is under the age of 19 or a full-time student under the age of 24 reduces the self-employment income and tax of the parents (business owners) by shifting income to the child. In 2023 the child can earn up to $13,850 tax-free, and the next $11,000 is only taxable at 10%. Plus, children under 18 are not subject to payroll taxes.
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