Did you know that an employee may receive, on a tax-free basis, up to $5,250 each year from his or her employer for educational assistance under a “qualified educational assistance program?”

We are excited to announce the addition of an online payment option to our website! Casey Peterson, Ltd. has teamed up with USPAY/Xpress-pay to offer a safe and secure way for clients to pay invoices without having to mail a check, call, or stop by the office.

You want to build a successful menu, but what exactly is successful menu? In general, it is a menu that helps you increase sales. After you have defined what success means for you, how can you measure that success over time and ensure your menu stays successful? One strategy is “menu engineering”.”

Casey Peterson, Ltd. is seeking an Administrative Assistant to join their Gillette, WY team.

All tips are subject to federal income tax. Cash tips of $20 or more received in any month are considered wages for federal income tax withholding and FICA purposes, while noncash tips are not. In general, an employee who receives cash tips of $20 or more in one calendar month must report these tips to the employer on or before the 10th day of the following month.

It is not a major disaster if you owed some money when you filed your return-after all, you would rather have the use of the funds for as long as possible. What you want to avoid is having to pay the IRS a penalty for underpaying your taxes during the year. If you owe the estimated tax underpayment penalty, which is nondeductible, you are, in effect, paying the IRS interest for part of the money you should have prepaid during the year for taxes but did not. On the other hand, if you received a large refund on last year's return, you made an interest-free loan to the government which is something you may want to avoid this year. If that happened, you should consider reducing the amount of withholding taken from your salary and/or the amount of estimated tax payments you make.

The IRS will audit hundreds of thousands of individual tax returns this year. Although that represents only a small percentage of all returns filed, it is little consolation if your return is among those selected for audit. With proper preparation and planning, you should fare well.

Given the ever-escalating cost of providing employee healthcare benefits, we want to advise you of a more cost-effective method of providing these benefits; namely, a health savings account (HSA). For eligible individuals, HSAs offer a tax-favorable way to set aside funds (or have their employer do so) to meet future medical needs

Increased tax benefits may be available to you under the rules for "spousal" individual retirement accounts (IRAs). Under these rules, the amount a married couple can contribute to an IRA for a nonworking spouse in 2018 is $5,500. The same limit applies for the working spouse.

Casey Peterson, Ltd. is seeking an Accounting Services and Tax Associate to join their Gillette, WY team.