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Latest News

Decoding Box 1 of Form W-2

Box 1 of Form W-2 shows the employee's total compensation that is subject to taxation for the year. Per an article published by Forbes, "This tends to be the number most taxpayers care about the most." Consequently, there's no room for error.   Below are inclusions and exclusions for Box 1 plus a... Read More »

Accounting for Prepaid Rent

Dealing with rent that is collected before it's due (aka "prepaid rent") is a problem every commercial property owner should be so lucky to have. But collecting prepaid rent raises some tax questions about when to report the money on your tax return. Prepaid rent is defined as rent paid before the... Read More »