Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low, it may […]
Your business can set up an educational assistance plan that can give each eligible employee up to $5,250 in annual federal-income-tax-free and federal-payroll-tax-free benefits. These tax-favored plans […]
Suppose you’re thinking about setting up a retirement plan for yourself and your employees. However, you’re concerned about the financial commitment and administrative […]
With summer fast approaching, you might be considering hiring young people at your small business. If your children are also looking to earn some extra money, why […]
Some tax sins are much worse than others. An example is failing to pay over federal income and employment taxes that have been withheld from […]
For federal income tax purposes, the general rule is that rental real estate losses are passive activity losses (PALs). An individual taxpayer can generally deduct PALs only […]
Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships and even legal consequences. Below are six quick […]
When it’s time to consider your business’s future, succession planning can protect your legacy and successfully set up the next generation of leaders […]
Are you starting a business with partners and deciding on the right entity? An S corporation might be the best choice for your new venture.
