How to Create a Mileage Log (Your Step-by-Step Guide)

Leave a Comment / Buisness / Sherry S. Borshoff, EA

Fleet management is accompanied by lots of paperwork and may involve Hours of Service (HOS), CDL (Commercial Driving License) licenses, inspections, training, mileage, etc. Due to compliance regulations, these things are mandatory. Knowing how to create a mileage log can be very beneficial to you. When making calculations for your CSA (Compliance, Safety, Accountability) scores, […]

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Pension Income and Taxes | How to Correctly Report It

Leave a Comment / Taxes / Sherry S. Borshoff, EA

If you receive a pension as part of your yearly income, it is essential to know how to report those earnings to the IRS and pay taxes on them. If you forget or neglect to do this, you could land in some trouble with the IRS, leading to fines and other possible penalties. These types

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What is the Modified Adjusted Gross Income (MAGI)?

Leave a Comment / Income / Sherry S. Borshoff, EA

The Internal Revenue Service (IRS) uses the Modified Adjusted Gross Income (MAGI) as a measure to determine whether a taxpayer qualifies for certain contributions or deductions to a Roth IRA (Individual Retirement Account). MAGI also determines if a taxpayer qualifies for certain income tax credits and education tax benefits. In simple terms, it denotes your

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10 Ways to Help Your Business Survive a Recession

Leave a Comment / Recession / Sherry S. Borshoff, EA

An economic recession is a notable decline in the economy, which lasts for some time and affects the Gross Domestic Product (GDP), industrial production, real income, wholesale-retail sales, and employment. It is important for small business owners to learn some tips on how to survive a recession. When a recession hits, it severely affects entrepreneurs

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August 2021

How to Create a Mileage Log (Your Step-by-Step Guide)

Pension Income and Taxes | How to Correctly Report It

What is the Modified Adjusted Gross Income (MAGI)?

10 Ways to Help Your Business Survive a Recession

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