Internet Connection Speed Tests
- Test Site 1: Verizon DSL Customers Only
- Test Site 2: Works with all providers
- Test Site 3: Works with all providers
- Client File Upload – Use this link to send a file directly to Canon Capital.
Minimum Wage with Tips:
Maximum earnings: $142,800
Employer percentage: 6.2%
Maximum Deduction: $8,853.60
Self-Employment Tax: 12.4%
Employee percentage: 6.2%
Maximum Deduction: $8,853.60
Employee/Employer percentage: 1.45%
Wages Paid in excess of $200,000: additional employee tax of 0.9%
Self-Employment Tax: 2.90%
Maximum credit: 5.4%
Normal net tax: 0.6%
Maximum Earnings: $7,000.00
PA State Tax:
State percentage: 3.07%
Philadelphia Resident: 3.871%
Philadelphia Non-resident: 3.5019%
Local jurisdictions: as applicable
Employee percentage: .06%
Employer percentage: contribution rates vary by employer
Maximum Earnings: $10,000.00
Annual elective deferral limit: $19,500
“Catch-up” contribution limit: $6,500 (must be 50 years old by the end of the plan year)
Simple IRA Limits:
Annual elective deferral limit: $13,500
“Catch-up” contribution limit: $3,000 (must be 50 years old by the end of the plan year)
Business purposes: 56 cents/mile
Charitable purposes: 14 cents/mile
Medical purposes: 16 cents/mile
Moving purposes: 16 cents/mile
^ National Holiday – Canon Capital/most banks are closed. Allow an extra day for direct deposit services.
+ National Holiday – Most banks are closed. Allow an extra day for direct deposit services.
^ New Year’s Day – January 1
+ Martin Luther King, Jr. Birthday – January 18
+ President’s Day – February 15
^ Memorial Day – May 31
^ Independence Day – July 5 (observed)
^ Labor Day – September 6
+ Columbus Day – October 11
+ Veterans Day – November 11
^ Thanksgiving Day – November 25
^ Christmas Day – December 25
The IRS provides an online Withholding Calculator to help you determine the right type of withholding for your situation. But even with this calculator, completing a Form W-4 can be confusing. We’ve provided a step-by-step guide. Follow along with our sample Form W-4 download, available below:
Find your municipality and tax rate:
American Payroll Association:
IRS – home page:
IRS – forms & publications:
Social Security Administration:
Immigration and Naturalization Service
Department of Labor:
Pennsylvania Department of Labor & Industry:
New Jersey Department of Revenue:
Pennsylania Department of Revenue:
Berkheimer Associates (Local tax adminstrator):
Philadelphia Deparment of Revenue:
Department of Community and Economic Development
Keystone Collections Group
Berks Earned Income Tax Bureau
Handing over your business to family members successfully can mean the difference between being financially sound for life or losing the value of many years of hard work and effort.
More than 70 percent of family-owned businesses do not survive the transition from founder to second generation. Rather, they fall prey to either the estate tax or family discord. Developing and implementing a well-designed plan is essential to the long-term success of the business you’ve grown and developed from the very beginning.
Succession planning also applies irrespective of whether you have family members looking to take over the business. One day you are going to need to exit the business, through retirement or sale. Succession planning covers the key steps to prepare the business for that moment.
In the event of selling the business to an outside purchase, Canon Capital can manage that process for and with you, as that can be an arduous undertaking.
It’s important to keep this concept in mind: Ultimately, for your business to truly be a realizable asset for you, you need to constantly be working on it with a view to selling it sometime in the future. Whether you do sell it or not is irrelevant. Keeping that frame of mind means that at least you will always be in a position to sell it and realize its true value, if you should ever want or need to.
That focus gives you a greater awareness of the need to systematize your business and make it less dependent on you. People want to buy businesses that work, not businesses that are run by people that work and work and work. Succession planning then is an ongoing, ever improving process and is just as much about working ON your business as planning for the future.
Customer File Upload – Use this link to send a file directly to Canon Capital.
IRS NEWSTAND – News releases and fact sheets from the Internal Revenue Service
IRS Tax information for individuals and businesses – Find the status of your refund, IRS phone numbers, withholding calculator, and more…
The link below contains financial and tax calculators for items such as mortgages, home equity, autos, stocks, mutual funds, retirement and LOTS more.
The Tax Cuts and Jobs Act took effect January, 2018 bringing changes to the Meals and Entertainment deductions.
It appears we hear of new data breaches every day. From Arby’s to Saks Fifth Avenue, in 2017 alone there were 27 before the recent breach at Equifax. What differentiates Equifax from the other entities is that Equifax is one of the three largest credit agencies in the U.S. It is unsettling, to say the least, but there are steps you can take to protect your information:
Check to see if your information was compromised.
Always closely monitor your credit card statements.
If your information was compromised, call your credit card companies and inquire as to whether they recommend changing account numbers and/or issuing new cards.
Review your credit report.
AnnualCreditReport.com provides one free credit report per year.
Consider freezing your credit
The Federal Trade Commission has provided these guidelines regarding a credit freeze. A credit freeze does not:
Equifax is currently waiving their credit freeze fee. Each of the three credit reporting agencies – Equifax, Experian, and TransUnion – charge between $5-$10.
The Nuclear Option
If you do find yourself affected by this data breach to the point of identity theft or other life-altering implications, you can file for a new Social Security Number.
There is nothing pleasant about any of these activities but please take a moment and do your due diligence for your protection. We are also available if you have any questions. Please don’t hesitate to contact us.