IRS Serves Up Savings With the 45(B) Tax Credit

By Wiss, Posted in Food & Beverage

By James Jenco If you own a food and beverage establishment, you might be overpaying the IRS in payroll taxes. That could be the case if you’re not taking advantage of IRC 45(B). This rather little-known federal tax deduction could save you hundreds or even thousands of dollars a year, depending on the size of your tip-eligible workforce. Here’s how it works. Taxing Issues As you probably know, it’s your responsibility to pay the employer withholding tax on the FICA and Medicare wages o... read more.

12 Days of Traditions - Day 3: Chrissy Giamanco

By Wiss, Posted in Wiss Gets Personal

One of my favorite holiday traditions is one that our family looks forward to each year. It is not my personal family (Giamanco) tradition, but rather one that developed when my brother married his wife in 1982. My brother was in the Navy stationed in Virginia Beach and spent several weeks and months out to sea. During that time, funds were limited, so my sister-in-law started making Christmas ornaments to gift to our entire family. It started the first year, became her family tradition, and she has be... read more.

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