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Paying the Price for Vice: The Evolving Landscape of Excise Taxes in America

by Service2Client | Jan 1, 2021 | Blog, Tax and Financial News

While excise or vice taxes have long been a part of the American tax landscape related to alcohol and cigarettes, the recent invention of vaping and legalization of marijuana and other substances is changing the landscape. What Are Excise Taxes? Excise taxes are taxes...

2021 Social Security Tax and Benefit Increases Announced

by Service2Client | Dec 1, 2020 | Blog, Tax and Financial News

The Social Security Administration recently announced 2021 increases to both benefits and the taxable wage base for FICA taxes. Increases Announced for 2021 Workers are facing a 3.7 percent increase in the taxable wage base subject to Social Security taxes, increasing...

Our Top 6 Year-End Tax Planning Tips

by Service2Client | Nov 1, 2020 | Blog, Tax and Financial News

This has been a year of economic and tax uncertainty with the impact of the COVID-19 pandemic, potential stimulus bills and the presidential election. As a result, tax planning may be more important than usual this year. To help guide you, we will cover six year-end...

What’s Next for a Stimulus Bill?

by Service2Client | Oct 1, 2020 | Blog, Tax and Financial News

The Senate Republicans’ slimmed-down stimulus bill recently failed to materialize after receiving less than the 60 votes needed to move forward. The “skinny” stimulus bill, with a price tag of only $650 billion, was intended to be a way to quickly inject...

3 State Level Tax Hikes That Might Be Coming Due to COVID-19

by Service2Client | Sep 1, 2020 | Blog, Tax and Financial News

No surprise, but Americans are consuming and spending less since the coronavirus kicked in.  Retail sales dropped to 8.7 percent in March, the largest month-over-month decline since the Census Bureau started tracking this data. Previously, the sharpest decline was...

R&D Tax Credits May be Part of the Next Tax Relief Bill

by Service2Client | Aug 1, 2020 | Blog, Tax and Financial News

As the economic impact of COVID-19 lingers and an impending second wave is on everyone’s mind, Congress is already thinking of new legislation to stimulate the economy. One of the ideas on the top of the list is an expansion of the Research and Development (R&D)...
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Recent Posts

  • Paying the Price for Vice: The Evolving Landscape of Excise Taxes in America
  • COVID-19 Vaccination Considerations for Employers
  • How Will the Biden Administration’s China Policy Impact Markets?
  • What To Know About Filing For Bankruptcy
  • Deciding if a Roth IRA Conversion is For You

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