Is a Tax Trap Lurking in Your Paycheck?

Does your paycheck look a little higher than normal? If so, it could be a tax trap.

The Problem

A payroll tax holiday effective September 1 was recently signed via a presidential executive order. Payroll tax holidays typically provide forgiveness of Social Security and Medicare taxes that are normally withheld from your paycheck.

This year’s tax holiday, however, is NOT necessarily a forgiveness of Social Security and Medicare taxes because the order is not yet supported by an underlying legislative action. So even if your employer removes your Social Security and Medicare tax from recent paychecks, there is a possibility you will need to pay it back at a later date. That could mean a pretty large tax bill for you in early 2021!

Switching Jobs? Here's What To Do With Your 401(k).

Suppose you’re switching jobs if you were furloughed because of the pandemic or you’re simply searching for greener pastures. If you have a 401(k) from your soon-to-be former employer, you must decide what to do with your retirement account when you leave. Here are your four options:

Don't Make These Business Website Mistakes

Your company’s online presence leaves a lasting impression—positive or negative. When people check out your homepage, will they stick around? Will they buy? Will they return? Make your website easy to use and current, and new orders may be just a click away. Annoy visitors and they’ll flee to a competitor.

Steer clear of the following website mistakes:

The Lowdown on the Great Autumn Gourd

Corn might be the king of U.S. crops, but pumpkins are always in demand this time of year by kids and others celebrating fall’s festivities.

Here are several interesting tidbits about one of America’s favorite fall gourds.

Germany boasts world’s largest pumpkin. Mathias Willemijns showed off the world’s largest pumpkin in 2016 at the Giant Pumpkin European Championship, officially weighing in at a stout

IRS Announces Common Tax Scams

The IRS recently announced its 2020 edition of its annual Dirty Dozen list of tax scams with a special emphasis on aggressive and evolving schemes related to COVID-19 tax relief, including Economic Impact Payments. Here are six of the more common scams.

Great Tips to Improve Your Credit Score

You’re ready to take out a loan to buy a house, a car or get a credit card. You fill out the application and wait to hear back from your bank on its decision whether to loan you the money.

And then you get the dreaded phone call. Your credit score wasn’t high enough to approve the loan! Was there anything you could have done to get a higher credit score?

Getting and maintaining a high credit score is just like playing a game. But just like any game, you first need to understand the rules so you can create a winning game plan. Here are the rules of the credit score game you need to understand so you can get the highest score possible.

Wardrobe Shopping Doesn't Have to Break the Bank

Shopping can be fun, but also drain your wallet. So how do you maintain a respectable wardrobe in a cost-effective way? Here are three tips to help you find your back-to-school and fall attire without breaking the bank.