Employee or independent contractor stakes rise
Thursday, November 29th, 2012
Employee or independent contractor? Sure, we understand that treating workers as independent contractors is easier in so many ways. If you are struggling with the question of which classification your workers fall under, it is more important than ever to consider the consequences if the government disagrees with your stance. This article in Forbes magazine […]
Read More »Hire a veteran, get a tax break
Friday, February 10th, 2012
The IRS has provided new information (and paperwork!) about the newly-expanded tax credit for hiring veterans. The VOW to Hire Heroes Act of 2011, enacted Nov. 21, 2011, provides an expanded Work Opportunity Tax Credit (WOTC) to businesses that hire eligible unemployed veterans and for the first time also makes the credit available to certain […]
Read More »Take action now to reduce taxes
Tuesday, November 23rd, 2010
Year-end is the best time to take actions that have an impact on next spring’s tax bill. There’s not much you can do after the year is over. Take time to do financial projections through year-end and calculate your tax bill. Working with your accountant, you can identify actions to take that may reduce your […]
Read More »Payroll tax credit
Wednesday, July 7th, 2010
It is time to prepare your second quarter payroll tax returns, due August 2, 2010 (July 31 falls on Saturday). If your company or tax-exempt organization has hired employees this year, you may be eligible for the HIRE Act new hire tax credit. You should check before filing Form 941. We previously posted about this and other tax credits in the […]
Read More »Small Business Tax Incentives
Wednesday, June 2nd, 2010
Recent legislation provides incentives for businesses to hire unemployed workers and provide health insurance. If your company hires a worker after February 3, 2010 through year-end, the HIRE Act allows a credit equivalent to the employer’s share of Social Security tax (6.2%). If the employee stays with you for a year, your company gets a $1,000 tax credit. The new hire […]
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