We hope you are staying safe and well! Recently, life has been awkward and uncomfortable for all of us. The past few weeks have not been fun. However, we do believe the drastic measures that have been implemented by state governments are ultimately
Student loan debt is a hot topic and for good reason. Managing the burden that comes during repayment is very difficult. Fortunately, there are ways to get some relief while taking advantage of timely tax breaks at the same time.
Right now, your highest priority is the health of those you love and yourself. But if you have time to read about some non-medical but important matters related to the health crisis, here is a summary of IRS action already taken and federal tax
Based on the current situation concerning COVID-19, Whitcomb & Hess has made the decision to have most of our team begin working from home. This change will not impact our commitment to providing you with high-quality service and timely communica
The recent coronavirus pandemic, and resulting panic, has affected every aspect of our lives â€“ our portfolios, social interactions, expressions on social media, schools, recreation, and stress levels. We are still learning much about the virus
Are you one of the now 33% of Americans who work as either an independent contractor or freelancer?
Whitcomb & Hess is blessed to have strong relationships and roots in our Ashland community and beyond. The health of our clients, neighbors, and team members is very important to us.
Itâ€™s been a historic week to say the least! Schools, professional sports, concerts, and many other social events have been canceled or postponed. Even going to the store has become a stressful event. If you are feeling perplexed, confused,
As you have probably heard, stock markets have remained volatile in March. Currently, the S&P 500 is down over 19% from its all-time high in February through its low yesterday afternoon. While market corrections are a normal part of investing,
You've done the hard work. You have a new business idea or you've found an existing business to purchase. Want to help ensure your business success? Pay attention to correctly setting up your business' accounting system. Here's how.
It’s easy to get inundated with documents during tax season. You can receive documents from many different organizations, including employers, financial institutions and others. Many documents are now also being sent via e-mail
With the major Form W-4 overhaul for 2020, you may field questions from your employees. While it’s not your responsibility to provide tax advice to your employees, it’s good to be prepared to help answer common questions
Cupid, candy hearts, flowers and chocolates are common items associated with Valentineâ€™s Day. According to the National Retail Federation, Americans now spend more than $20 billion lavishing gifts on their kids, friends and significant others.
The Setting Every Community Up for Retirement Enhancement Act, also known as the SECURE Act, was passed by Congress in late December 2019. Here are some of the features in the new legislation that will help you save more for retirement
Every year the IRS publishes instructions to prepare your Form 1040, individual tax return. The publication for 2019 is a whopping 108 pages! On page 103 of the IRS booklet is a summary of collections (income) and spending (outlays) by the federal government. Given the election year, here is a summary of this recap and some general observations.
The best way to avoid mis-classifying workers is to understand the defining characteristics of independent contractors — and then treat them as such. Use this to help you identify independent contractors and understand how they are different
When tracking and planning your business objections, it’s easy to focus your analysis on two reports — the income statement and balance sheet. But one of the primary keys to your business’s success relies more on how you handle
What happened in December? Stocks continued to have positive returns. International stocks, measured by the MSCI World ex-US index, increased 3.19% in December. Large cap stocks, measured by the S&P 500 were up 3.02% for the month.
This winter, the NPD Group’s 2019 Holiday Purchase Intentions Survey is reporting that Americans plan to spend an average of $740 on holiday shopping — a 7% increase since last year. The survey also found that more people started
You’ve probably already received several letters and phone calls from charities asking for donations. Most requests are from legitimate organizations. Some, however, are bogus charities set up by con artists who use the holiday
One way to head off fraud during tax season is to get your free annual credit report now. Credit reports often have errors in them; this quick checkup can be the first indication that some form of identity theft has taken place on your account.
What happened in November? U.S. stocks continued to have positive returns. Large cap stocks, measured by the S&P 500 were up 3.63% in November. Small stocks, measured by the Russell 2000 were up 4.12%. International stocks, measured by the...
Many people dream of making more money, but cutting expenses can have the same effect. Identify unnecessary expenses with these six money-saving ideas and help free up some cash
Your credit score is more important than ever. Once viewed as a necessity when applying for a mortgage, it now factors into renting an apartment, paying for utilities, buying a cell phone, and determining the amount you pay for home and auto...
What are some ways you can make gratitude part of your everyday life? Here are a few tips to help you get started:
Handling employment taxes can be complicated, especially when you’re required to file important tax documents throughout the year. Here's a list of key forms and deadline dates to help keep you on track.