Question: What is surprise balance billing? And what does our group health plan have to disclose about it? Answer: Balance billing occurs when a provider bills a covered individual for charges disallowed by the plan because the charges exceed the plan’s allowed amount. It occurs only with out-of-network providers since in-network providers have agreed to […]

When you got married, you knew it was for “better or worse.” But you might not know about laws that hold you responsible if your spouse cheats on a tax return. Married couples filing jointly should be aware that: You are both responsible for tax, interest and penalties — even after a divorce or the […]

Individual taxpayers faced significant tax planning uncertainty for the first six months of the year. Many provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) were scheduled to expire at the end of this year. However, after the One Big Beautiful Bill Act (OBBBA) became law in July, the federal tax rules for […]

Many owners of pass-through businesses and self-employed individuals have taken advantage of the Section 199A qualified business income (QBI) deduction. Created by the Tax Cuts and Jobs Act (TCJA), this break was scheduled to expire after 2025, making its future uncertain and hampering tax planning. The tax and spending legislation known as the One Big […]

Location, location, location. You know how important it is for your company. That’s why when establishing a new location, whether because you’re launching a new business or expanding or relocating an existing one, you’ve got to research factors such as foot traffic, vehicle traffic and occupancy rates of the neighboring buildings. But if you don’t […]

If your business is picking up steam, you may be looking to expand your workforce to meet the demand. Here’s a practical idea: Hire employees who qualify for the Work Opportunity Tax Credit (WOTC). The credit is available for workers who represent one of the “target” groups specified by law. There’s no limit on the […]

Prudent businesses often choose to lease rather than buy equipment, vehicles and facilities. Leasing can be advantageous but the type of agreement you sign is important. When presented with lease options, you’ll find the ones with the longest terms are generally the cheapest. But you might want to opt for a short-term version instead. Why? […]

The One Big Beautiful Bill Act (OBBBA) introduces three potentially valuable tax breaks for individual taxpayers that weren’t previously available. And you don’t have to itemize deductions to take advantage of them. Do you qualify? Read on and find out. 1. Deduction for Some Tip Income: The Basics Before the OBBBA, tip income was fully […]

How many Baby Boomer employees (those born between 1946 and 1964) will be leaving your organization in the next five years? When retiring employees clear out their desks and walk out the door for the last time, they often leave with fond memories — as well as vast amounts of intellectual property stored in their […]

Most business owners these days are finding they are being pulled in several different directions at once. Add in the financial constraints and worries with the current economic concerns and engaging a new professional seems overwhelming. However, Client Accounting and Advisory Services (CAAS) offer a solution, yet many business owners hesitate to make the leap. […]