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Individual Tax Calendar: Important Deadlines for the Remainder of 2018

Posted by HomeWork Solutions on May 17, 2018 10:00:00 AM

With April 17 in the rear-view, there are other important tax deadlines through the rest of the year. To help you make sure you don’t miss any, here’s a look at when some key tax-related forms, payments and other actions are due. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.

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Topics: CPA

Why Employers Need to Practice Change Management

Posted by HomeWork Solutions on May 10, 2018 10:00:00 AM

When an organization changes — whether it’s something as drastic as a merger or as seemingly innocuous as a new software system — employees may feel threatened. People tend to desire stability and order as opposed to disruption and uncertainty. This is equally as true in household employment as it is in a corporate setting. Think your nanny isn’t nervous about your move to a new home or addition of another child?

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Topics: nanny, agency, CPA

5 Ways Tech Can Ease Communication Between Bookkeepers and CPA Firms

Posted by TechnologyAdvice on May 3, 2018 10:00:00 AM

This is a community post provided by TechnologyAdvice

The world of accounting and finance is filled with nuanced regulations, many moving parts, and multiple chances for error. It is an industry where a variety of expertise is needed to keep the financial side of businesses up and running. Two of the most significant players in this process are CPA firms and the bookkeepers of small companies they may work with.

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Topics: CPA

All Types of Employers benefit from a formal onboarding process

Posted by HomeWork Solutions on May 1, 2018 3:50:00 PM

 

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Topics: nanny, agency, senior, CPA

Guidelines for Tax Document Retention: Small Businesses

Posted by HomeWork Solutions on Apr 30, 2018 10:00:00 AM

You may have breathed a sigh of relief after filing your 2017 income tax return (or requesting an extension). But if your office is strewn with reams of paper consisting of years’ worth of tax returns, receipts, canceled checks and other financial records (or your computer desktop), you probably want to get rid of what you can. Follow these retention guidelines as you clean up.

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Topics: agency, CPA

Job Descriptions are Important, Make Sure yours are Up-to-Date

Posted by HomeWork Solutions on Apr 26, 2018 10:00:00 AM

Accurate job descriptions are the foundation of every organization’s staffing efforts. Without clear, focused documentation of what each position does, you may struggle to hire and retain good employees or even undermine productivity.

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Topics: agency, CPA

Why You Need to Care About Your Employees’ Off-Work Behavior

Posted by HomeWork Solutions on Apr 19, 2018 10:00:00 AM

When employees are off the clock, how they choose to spend their time is up to them. However, that doesn’t mean an employer is immune to a staffer’s off-work behavior. Your organization (or personal reputation) can be severely harmed by an employee’s actions — even when he or she isn’t on the job.

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Topics: agency, CPA

Best FREE Time Clock Apps for Nannies and Caregivers

Posted by HomeWork Solutions on Apr 17, 2018 3:50:00 PM

If you have a new nanny or senior caregiver, it’s important that you have a reliable way to keep track of their hours worked. Accurate, contemporaneous time tracking will protect you as an employer from unpaid wage and overtime complaints and it will also ensure that the nanny or caregiver is paid for all their hours. Here are some apps that can help.

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Topics: nanny, agency, senior, CPA

Save Money on Small Business Taxes with Section 179 Expensing

Posted by HomeWork Solutions on Apr 12, 2018 10:00:00 AM

If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax return. You’ll also want to keep this tax break in mind in your property purchase planning, because the Tax Cuts and Jobs Act (TCJA), signed into law this past December, significantly enhances it beginning in 2018.

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Topics: agency, CPA

2018 Form W-4: A Walk through

Posted by HomeWork Solutions on Apr 11, 2018 10:00:00 AM

Disclaimer: HomeWork Solutions employees are experts in Employment Taxes, not personal income taxes. That said, we see these forms every day. If you have specific questions please see your personal tax accountant.

First off, here is a link to the IRS maintained version of the Form W-4.

This new version has substantial changes. Even some elements that haven’t changed have been rearranged. Starting from the top we do see some familiar things (provided you’ve read the “fine print” of the form before). The general instructions haven’t changed much but there are some clarifications about the adjusted child care tax credit as well as credits for other dependents. You’ll notice then that the bottom third of the first page is now the Employee Withholding Allowance Certificate with no allowance worksheet above it. The section is still the same with name, address, social security number, etc. The most important things here are filing status (box 3) and number of allowances (box 5), the same as it has always been. The major difference is that getting to your number of allowances is considerably more difficult.

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Topics: nanny, agency, senior, CPA

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