Werner & Co. Certified Public Accountants

If you need assistance preparing your taxes, we are here to help. Werner & Co. Certified Public Accountants... you like as much as you trust! Contact us today at (610)770-9236 #LehighValley

An exciting new venue/market is being revitalized in Southside Bethlehem as we hold hope for a return to a robust #LehighValley retail economy. Werner & Co. Certified Public Accountants... you like as much as you trust! Contact us today at (610)770-9236 #LehighValley

In case you missed the "PPP Round 2" webinar, or wish to review it, we saved the PowerPoint from our webinar presentation on Friday afternoon. You may view or download here: https://wernercpa.net/blog/ #LehighValley

Don't forget the final estimated tax payment for 2020 is due tomorrow! Don't forget those various financial transactions, especially late in the year, that can often have an unexpected tax impact. Examples include year-end and holiday bonuses, stock dividends, capital gain distributions from mutual funds and stocks, bonds, virtual currency, real estate or other property sold at a profit. Need assistance with your tax preparation: Werner & Co. Certified Public Accountants... you like as much as you trust! Contact us today at (610)770-9236 #LehighValley https://wernercpa.net/

Payroll recordkeeping was important in the old normal, but it’s even more important now as businesses continue to navigate their way through a slowly recovering economy and continuing COVID-19 pandemic. Under the records-in-general rule, most employers must keep information relating to federal income, Social Security, and Medicare taxes for at least four years after the due date of an employee’s personal income tax return (generally, April 15) for the year in which the payment was made. Contact us for more information: (610) 770-9236.

With the final quarter of 2020 underway, the IRS is reminding you to review your tax withholding. That can help avoid unexpected shortfalls when you file your tax return, or depending on the adjustment, boost take-home pay this quarter. You can view the taxes owed, your payment history and other key details from your most recent tax return here: https://bit.ly/34Sh2Yb . And you can use this estimating tool to calculate how much you should be withholding: https://bit.ly/3jTcwz8. The IRS also provides a list of issues that may affect your 2020 tax bill, including the COVID-19 pandemic relief, unemployment and disasters. See the list here: https://bit.ly/2H2TozZ. Contact us with questions: 610-770-9236 #LehighValley

Please take a moment and be aware of potential scams regarding economic impact payments. Watch this IRS video to learn how to recognize them: https://youtu.be/pEAMB_sYezs

The #IRS now has a to do list for next year. The Treasury Inspector General for Tax Administration (TIGTA) has offered its perspective on the 10 most serious management and performance challenges confronting the IRS in 2021. Among other things, the list includes: responding to the COVID-19 pandemic, enhancing the security of taxpayer data and the protection of IRS resources, implementing tax law changes, addressing emerging threats to tax administration, and ... supporting an enhanced taxpayer experience. Read the full list and additional details here: http://bit.ly/3o6sXKY Need help with your tax To-Do list for 2020, call now: 610-770-9236 #LehighValley See more

If your business revenue is down and bills are due while cash is tight, we can help minimize COVID-19 damage to your business. Call us and let’s navigate the COVID-19 economic challenges together. #LehighValley (610) 770-9236

In an economy rocked by the COVID-19 crisis, many taxpayers need a new way to earn income. If starting a new business is your goal, the IRS offers some helpful tips on actions you’ll need to take: Choose the business structure you wish to use, such as sole proprietorship, partnership or corporation. Apply to the IRS for an employee identification number, which becomes your business identity. Provide any employees with the required employment forms. Learn what types of... taxes your business must pay and how to pay them. Keep in mind that states have their own business requirements, so visit your state’s website to learn what to expect. For details on the IRS tips click here: https://bit.ly/3kVNyPJ For help getting your financial books set-up on a solid foundation call us:(610) 770-9236 See more

Get ready! The Social Security (SS) wage base increases to $142,800 for 2021, up from $137,700. Wages and self-employment income above this threshold aren’t subject to SS tax. The Federal Insurance Contributions Act (FICA) imposes SS tax and a Medicare tax on employees, employers and the self-employed. There’s no threshold for Medicare tax; all wages and self-employment income are subject to the tax. The FIC A tax rate for employees and employers is 7.65%: 6.2% for SS and 1.45% for Medicare. The self-employed pay both the employee and employer portions. Wages or self-employment income above $200,000 ($250,000 for joint filers, $125,000 for separate filers) are subject to an additional 0.9% Medicare tax. Questions? Call us (610) 770-9236. #LehighValley #IRS

Tell customers why they should buy your product or service over another offered by a competitor. Develop this Unique Selling Proposition (USP) by holding brainstorming sessions with employees and ask, "Why us?" Once established, your USP should serve as a tagline for your sales team. Then, integrate it into the fabric of your business culture. Contact the "Accounts you like as much as you trust" for all your accounting needs:(610) 770-9236. #LehighValley

This post is for all of the municipalities and planning commission folks as well as community planners etc.. Pennsylvania is now accepting grant applications from municipalities that want to make their communities safer and more welcoming to pedestrians and bicyclists. More info below. #LehighValley communities that want to fund projects that are consistent with the LVPC’s Walk/RollLV and FutureLV plans can get added assistance for their application from the state’s WalkWorks office by contacting [email protected]. Deadline is Nov. 6.

As the COVID-19 pandemic continues to impact the United States, many business owners, including hairstylists, personal trainers, and even clothing retailers are working from home. There are a number of critical steps to take to ensure you’re protecting yourself and your visitors. Here are some tips from our friends at Bankrate.com. https://blog.natptax.com/article

Business owners are no strangers to supply-chain worries; the pandemic has only complicated matters. One commonly known threat is over-concentration when a business relies on a customer or supplier for 10% or more of its revenue or materials, or on several customers or suppliers located in the same geographic area. Check regularly into which suppliers are available to serve you and whether new ones have emerged that might allow you to mitigate concentration. Keep a close eye on COVID-19 severity, weather conditions, tax rates, regulatory changes, and geopolitical uncertainty in areas where your suppliers operate. Contact Werner & Co. for help making cost-effective improvements to your supply chain: (610) 770-9236. #LehighValley #Philadelphia #Quakertown

If your business needs working capital to grow, rather than simply survive, consider a mezzanine loan. These work by layering a junior loan on top of a senior (or primary) loan, combining aspects of senior secured debt from a bank and equity-based financing from direct investors. The advantages include a relatively quick approval process and access to working capital that you may be unable to obtain elsewhere. Drawbacks include high interest rates and potential loss of ownership share if delinquency or default occurs. Contact us for more information: https://wernercpa.net/ #LehighValley

The #IRS is making it easier for you to track your economic impact payment on their website with the "Get My Payment" tool.