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Federal Taxes Payroll Taxes Tax Planning

Phelps Dunbar

What Does “No Tax on Tips” Mean for Employers?

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President Trump signed into law H.R. 1, better known as the One Big Beautiful Bill Act, on July 4. The legislation includes provisions that expand tax deductions on tips and overtime pay, including a broader employer tip...more

Bowditch & Dewey

Update Your 2024 Tax Withholding to Avoid Year-End Surprises

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Now that the 2023 tax filing season is underway, many taxpayers are having an unpleasant surprise when they file their tax return this year and find out they are getting a much smaller refund than they were expecting, or...more

Winthrop & Weinstine, P.A.

The Employee Retention Tax Credit: IRS Developments and Strategy for Taxpayers

The Employee Retention Tax Credit (“ERTC”), under the CARES Act, is a refundable tax credit filed against a company’s payroll taxes. The ERTC was enacted to incentivize employers to maintain their employee base during the...more

Bowditch & Dewey

Update Your Tax Withholdings to Avoid Year-End Surprises

Bowditch & Dewey on

During the 2022 tax filing season, many taxpayers had an unpleasant surprise when they filed their tax return and found out they were getting a much smaller refund than they were expecting, or worse, had a balance due....more

Bowditch & Dewey

2020 End of Year Tax Planning for Businesses

Bowditch & Dewey on

As the 2020 year draws to a close, businesses should review the tax-related provisions adopted in the CARES Act and related IRS guidance with their tax advisers: EMPLOYER REFUNDABLE CREDIT AND PAYROLL TAX DEFERRAL: -...more

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