When Is a Tip Not a Tip? When the IRS Says So…
Here’s a tip: restaurants that tack a fixed charge on certain bills must begin withholding additional taxes on those amounts. Known as “auto gratuities,” compulsory service charges paid by diners...
View ArticleWritten Any Severance Checks Lately? You May Be Entitled to a Tax Refund
Employers in Kentucky, Michigan, Ohio, and Tennessee who have withheld FICA tax on severance payments made in connection with layoffs or plant closings might be getting some money back from the IRS....
View ArticleTax News: Want to Help Sandy Relief Efforts? Here Are 3 Tax-Exempt Ways
“Because Hurricane Sandy has been designated a qualified disaster for U.S. federal tax purposes, certain payments made by employers and others to assist disaster victims will be considered qualified...
View ArticleEmployee Tax in 2013: Prepare for Changes in Payroll, Income, and Medicare Taxes
Happy new year? On January 1, 2013, taxes go up for most employees, and the burden is on employers to make sure the money gets to Uncle Sam. That leaves just one short month to prepare for these three...
View ArticleSmall Business Taxes: Five Ways to Prepare for Taxmageddon
The end of year is coming, and – if our representatives in Washington continue their shenanigans and political posturing at the edge of the fiscal cliff – it will bring major changes to small business...
View ArticleDon’t Let the Holidays Spoil Your Holiday…
‘Tis the season. But for employers and HR managers, the holidays can bring potential pitfalls related to wage-hour and related issues. How to avoid them? Keep these three concepts in mind: 1. Your...
View ArticleDoctor, Doctor, Gimme the News: Which Healthcare Reform Laws Go into Effect...
“Many employers have failed to invest much time or energy into analyzing how healthcare reform would impact their businesses, first anticipating that the Court would invalidate much or all of ACA, and...
View ArticleSmall Businesses Get One More Year to Offer Tax-Free Investments
“Among the taxpayer-favorable aspects of the American Taxpayer Relief Act of 2012, the 100 percent exclusion from gross income of gain on the sale of Qualified Small Business Stock (QSBS), provided for...
View ArticleBusiness Owners: What Keeps You Up at Night? [Poll]
Which legal issues give you the biggest headaches? While you’re thinking about your response, here are a handful of recent legal updates on these very topics: Business Formation: Key Tips for...
View ArticleIndependent Contractor or Employee: Here’s How You Choose
From attorney David Gair at Looper Reed, here are five of his 20 criteria to help you decide if your newest hire should be an independent contractor or an employee: “1. Instructions: If the person for...
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