MILEIQ App Review

MILEIQ App – Are you familiar with it? It’s the easiest and most user-friendly app to track an individual’s mileage. Let’s take a look at why this app has remained at the top of the App Store sales charts and why over 15,900 users have rated it 4.3 stars on Google Play. Automatic Detection MILEIQ… Read More

Paying Farm Kids for Farm Work, Part II

Farm children 18 years or older working in mom or dad’s farm operation provide more tax opportunities for farmers. Schedule F and corporate farmers can pay reasonable wages to their children (for farm work) and reap large family tax savings. Children can be paid cash wages income tax free, subject to FICA withholdings, if wages… Read More

Welcome Erika Mertens

Erika Mertens has recently joined the T.L. Baker Co., LLP team in January 2016. Erika brings over three years of marketing and graphic design experience to her position. She currently spends most of her time managing the company website, developing and managing various social media platforms, and other technology initiatives. Erika graduated Magna Cum Laude… Read More

Don’t Get Tricked by the IRS Tax Scams

BEWARE…. There is an ongoing problem with people calling claiming to be with the IRS. The IRS will: Never initiate contact with taxpayers by e-mail to request personal or financial information. This includes any type of electronic communication, such as text messages and social media. Never ask you to provide your full Social Security Number by… Read More

Paying Farm Kids for Farm Work, Part I

Farm children under the age of 18 working in mom or dad’s farm operation provide tax opportunities that often get overlooked. Schedule F farmers (sole-proprietors) can pay reasonable wages to their children (for farm work) and reap large family tax savings. Children under the age of 18 can be paid wages without any Social Security/Medicare… Read More

Do I have to pay taxes if I have Nanny?

Hiring a nanny can have a positive impact on your life, but you also need to keep in mind that it will have an impact on your finances, as well. You will be expected to pay a mix of taxes on top of the salary you pay them. This is referred to as the “nanny… Read More

Mom died, where do I start?

A great place to start is mom’s CPA or accountant. “Why?” you may ask? CPA’s can be incredible assets in establishing mom’s estate identity and titling assets correctly after death. Applying for an Employer Identification Number (EIN) from the IRS is a necessary first step and can be done by your CPA. An important part… Read More