We specialize in bookkeeping, payroll, income tax return preparation, and retirement planning, and serve a nationwide clientele consisting of individuals and businesses of all types and sizes (LLC, partnerships, C & S Corporations), as well as trusts and estates. As financial problem solvers, we provide practical advice and proactive solutions with personalized service. We are affordable, experienced, and friendly, and we tirelessly study and research the ever-changing world of tax law and regulation so that we can help every client realize the greatest possible savings and return on investments. Our office is conveniently located in Dover, Delaware. Please contact us today to find out more about how we can make YOUR life less taxing!Tax
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๐ฆ๐ต๐ผ๐๐น๐ฑ ๐ ๐ฎ๐ฑ๐ท๐๐๐ ๐บ๐ ๐๐ฎ๐
๐๐๐ฟ๐ฎ๐๐ฒ๐ด๐ ๐ฎ๐ณ๐๐ฒ๐ฟ ๐ฎ ๐ฑ๐ถ๐๐ผ๐ฟ๐ฐ๐ฒ?
Yes, because your tax status has changed, and if you don't note that, you could end up paying more in taxes than you should.
Do these two things as soon as possible:
1. Update your W-4, switching to Single or Head of Household
2. Assign child tax credits to whichever parent qualifies for the full dollar amount. (Check income phase-outs before deciding who claims the kids.)
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๐๐ผ๐ ๐ฑ๐ผ ๐ ๐บ๐ฒ๐ฎ๐๐๐ฟ๐ฒ ๐๐ต๐ฒ๐๐ต๐ฒ๐ฟ ๐ฎ ๐ป๐ฒ๐ ๐ฒ๐บ๐ฝ๐น๐ผ๐๐ฒ๐ฒ ๐ฏ๐ฒ๐ป๐ฒ๐ณ๐ถ๐ ๐ถ๐ ๐ด๐ถ๐๐ถ๐ป๐ด ๐บ๐ ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐ ๐ฎ ๐๐ผ๐น๐ถ๐ฑ ๐ฟ๐ฒ๐๐๐ฟ๐ป ๐ผ๐ป ๐ถ๐ป๐๐ฒ๐๐๐บ๐ฒ๐ป๐?
Tracking a real return on family perks like Trump Accounts comes down to combining enrollment data with your payroll and retention numbers.
Focus on three main measurements:
โข Track participation rates by comparing how many eligible working parents sign up versus your total headcount.
โข Monitor participation across wage levels so your plan passes statutory nondiscrimination testing and stays compliant.
โข Compare turnover rates among working parents before and after launch to see if the perk cuts your hiring costs.
To track this in your business, set up a dedicated sub-account in your general ledger for benefit contributions and administrative fees. Compare this specific P&L expense line item against your historical recruiting and onboarding costs every quarter.
๐๐ฐ ๐บ๐ฐ๐ถ ๐ค๐ถ๐ณ๐ณ๐ฆ๐ฏ๐ต๐ญ๐บ ๐ต๐ณ๐ข๐ค๐ฌ ๐ต๐ฉ๐ฆ ๐๐๐ ๐ฐ๐ฏ ๐บ๐ฐ๐ถ๐ณ ๐ฆ๐ฎ๐ฑ๐ญ๐ฐ๐บ๐ฆ๐ฆ ๐ฃ๐ฆ๐ฏ๐ฆ๐ง๐ช๐ต๐ด, ๐ฐ๐ณ ๐ฅ๐ฐ ๐บ๐ฐ๐ถ ๐ฎ๐ฐ๐ด๐ต๐ญ๐บ ๐ฐ๐ง๐ง๐ฆ๐ณ ๐ฑ๐ฆ๐ณ๐ฌ๐ด ๐ฃ๐ข๐ด๐ฆ๐ฅ ๐ฐ๐ฏ ๐ธ๐ฉ๐ข๐ต ๐บ๐ฐ๐ถ๐ณ ๐ต๐ฆ๐ข๐ฎ ๐ข๐ด๐ฌ๐ด ๐ง๐ฐ๐ณ?
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๐ช๐ต๐ฎ๐ ๐ถ๐ ๐๐ต๐ฒ ๐ป๐๐บ๐ฏ๐ฒ๐ฟ ๐ผ๐ป๐ฒ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐พ๐๐ฒ๐๐๐ถ๐ผ๐ป ๐๐ต๐ฎ๐ ๐ธ๐ฒ๐ฒ๐ฝ๐ ๐๐ผ๐ ๐ฎ๐๐ฎ๐ธ๐ฒ ๐ฎ๐ ๐ป๐ถ๐ด๐ต๐?
We genuinely want to know.
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First State CPAs & Associates |
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|
18 S. State St, Dover, DE 19901 |
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| (302) 736-6657 | |
| Business Hours | |
| January 1st January 31st | |
| MondayโFriday: | 8amโ5pm |
| Saturday & Sunday: | closed |
| February 1st April 15th | |
| MondayโThursday: | 8amโ6pm |
| Friday: | 8amโ5pm |
| Saturday: | By appointment |
| Sunday: | closed |
| April 16th December 31st | |
| MondayโThursday: | 8amโ5pm |
| Friday, Saturday & Sunday: | closed |