Sherry S. Borshoff, EA

What is the purpose of withholding tax and how much do you need to withhold in order to make sure you don’t get surprised at tax time? In the most basic of terms, a withholding tax is an amount that an employer withholds from employees’ wages and pays directly to the government. The amount withheld

There are many types of Taxes, let’s start with federal, state, and local income taxes. If you’re a business owner, you deal with payroll taxes. If you buy something, you may pay a sales tax. Unemployed? You are required to pay taxes on the benefits received from the federal and state government. Important Reminder: Tax

Quality? Price? Value?  This is the daily dilemma facing all Americans when considering buying goods or services. Over the past 15 years, companies have changed their business models in placing a higher importance on delivering MORE in value. Their thinking is people will buy more from us if they perceive they are getting more value

Charitable deductions are great deductions to take if you donate a lot to charities. A charitable contribution is a tax deduction that you can take if you itemize deductions rather than taking the standard deduction. To maximize your charitable deductions, you need to consider some crucial long-term strategies. With the Tax Cuts and Jobs Act