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Contractor or Employee? The Rules for Classifying Workers

March 4, 2020 by Todd Renner

Contractor or employee? The difference matters – a lot. Be sure you’re using the correct classifications for your staff. Employees. Contractors. They both create and support products or provide services for your customers. They’re your company’s most valuable assets. But the IRS looks at each very differently. And when you hire people and start dealing […]

Filed Under: Management, Tax Information

Ten Things to Know about an LLC

February 26, 2020 by Todd Renner

Many people are curious about the differences between LLCs and corporations. This short article describes 10 basic attributes of LLC. You probably know of several businesses whose formal names end with the acronym LLC. And you probably also know that LLC stands for limited liability company. Here are 10 things you may not know. An LLC generally […]

Filed Under: Management, Tax Information

Individual Tax Deductions–A Look at What Has Changed

February 21, 2020 by Todd Renner

A lot of clients still ask about what has changed with tax deductions for individuals. This short article might help. The recently enacted tax reform law made some significant changes to the system of income tax deductions used by consumers. Here are highlights of the changes.   The standard deduction is increased. The standard deduction […]

Filed Under: Tax Information

Welcome to Woodford Financial!

February 7, 2020 by Todd Renner

After over twenty-five years of managing financial and operational affairs for private businesses, J. Todd Renner decided to capitalize on his small and medium-sized entity (SME) and non-profit expertise and launched Woodford Financial. The Company provides accounting, tax, and financial management services to SME’s and non-profits to further develop their businesses and take them to […]

Filed Under: Firm Update

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