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Jan 2018How Does The “Tax Cuts and Jobs Act” Affect You?
What does this new change in the American Tax Code mean to me? Out from all the ruckus has come out a solidified tax reform plan that goes into effect for tax year 2018. With the bill passed by both the Senate and the House, President Trump signed the “Tax Cuts and Jobs Act” into law on December 22. But do not be mistaken, this…
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Dec 2017Gen Z’ers in the Workplace: A How-To Guide
There are unequivocal shifts in the workplace when a new generation joins the workforce. But instead of focusing on differences, we should welcome changes with open arms, as well as acknowledge that some of the changes may not be as big or bad as feared. New employees from younger generations may have a fresh take on inefficient procedures and revamp energy into aspects of your…
03
Nov 20174 Tasks Every Business Should Close Out the Year With
The end of the year is upon us, which means it’s that time again. ‘Tis the season to close your business’ books, get ready for tax filing, and plan for 2018. It’s not going to be as fun as your holiday party or watching the ball drop on New Year’s Eve, but if your accounting team is organized and most of your financials are up-to-date,…
06
Oct 2017Trump’s Proposed Tax Reform: What Does it Mean to You?
President Trump’s proposed tax plan, which was announced in April and called the “the biggest tax cut” ever by the U.S. National Economic Council Director, would take our country from having one of the highest corporate taxes in the developed world to one of the lowest. Here we lay out some changes focused specifically towards small businesses and individuals. For a full description of the…
14
Sep 2017Taking the Good With the Bad: Unemployment and New Home Sales at Record Lows
Unemployment Stats The United States economy and labor market continue their comeback, with the summer’s numbers better than expected. According to July’s report from the Bureau of Labor Statistics, May and July’s unemployment rates (4.3 percent) were the lowest since 2001 and 209,000 jobs were added in July alone, about 15 percent more than predicted. Thanks to businesses that have been able to hire, July…
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Apr 2017To Each & Every One of Our Valued Clients…Thank You!
Another successful tax season has come and gone, and none of it would be possible without your loyalty and continued trust in our services. At Paragon Accounting Group, we never want you to forget how much we value our relationships with each and every one of you as our clients. Strong and reliable partnerships are what businesses are built on. We hope to continue to earn your business…
08
Jan 2017Pay Attention To These 2017 W-2 & 1099 Filing Deadlines
With a new year, comes new tax laws. The arrival of 2017 comes with different W-2 and 1099 deadlines that are important to you and your business. In the past, employers had to provide employees with their W-2 copies by January 21st. Additionally, employers have had until February 28th to submit paper filings (or March 21st for electronic filings). Beginning with 2016 forms, employers will…
13
Dec 2016How Will Assembly Bill 2883 Impact Workers’ Compensation Policies?
Business owners be aware: the passage and signing of Assembly Bill 2883 comes with a lot of changes to workers’ comp. Assembly Bill 2883 (AB 2883) requires that all business workers’ compensation insurance policies will now cover certain officers and directors of private corporations, as well as working members of partnerships and limited liability companies that may have been excluded in the past. Prior to…
01
Nov 2016Company Records: How Long Should You Keep Them?
Any business’s company records are a crucial part of managing and maintaining a successful company. Not only do they provide detailed hiring practices and compliance with regulations, they ultimately show the amount of taxes a business owes. So, how long should these records be kept? Well, it depends. Take a look at the following types of business records to know just how long you should…
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Oct 2016ITINs: A Chance to Participate in the U.S. Tax System
The influx of foreign nationals, non-resident foreign nationals, and immigrants into the United States each year is a demographic phenomenon that has been at the centerpiece of our political and economic discourse for an overwhelmingly large part of our history as a nation. There are a myriad of reasons foreign individuals come to the United States, but for most, the appeal is undeniably the economic…