DOL 401(k) Plan Disclosure Rules Take Effect Soon
New rules are requiring 401(k) plans to provide detailed information to participants about the plan and its investments. Learn more in this week’s Business Tip.
Business Owner Succession Planning
What will happen to your small business when you retire? Think about how you’ll transfer ownership now. Learn about Business Owner Succession Planning in this week’s Insurance Tip.
Tax Advantages to Employing Your Children
Employing your children in your sole proprietorship or partnership can provide significant tax advantages, including exemptions from FICA and FUTA taxes, the opportunity to shelter income through their standard deduction, and the potential for long-term financial growth through contributions to a Roth IRA.
Creating Entity to Hold Real Estate Separately
Creating a separate entity, such as a partnership, to hold your real estate provides both insurance and tax advantages. Read more in this Business Tip.
If I Work at Home Occasionally, am I Entitled to a Home Office Deduction?
You have a home office, but can you deduct it on your taxes? Before you do, make sure you pass two tests from the IRS. Find out in this week’s Tax Tip.
New Credits for Hiring Veterans
The Work Opportunity Credit has been modified by new legislation that extends the benefits for hiring unemployed veterans. Read more in this week’s Tax Tip.
Tax Tips for the Self-employed
Are you your own boss? The IRS has six key points on self-employment taxes they want you to know. Read the Article
Are You Required to File 1099s?
If you regularly use independent contractors instead of hiring employees, you may still have to file Form 1099. Read more in this Tax Tip.
Tax Strategist: Independent Contractor vs. Employee Status: A New Focus of the IRS
If you are a small-business owner, whether you hire people as independent contractors or as employees will affect the amount of taxes you withhold from their paychecks, as well as how much and what types of taxes you pay. Read this Tax Strategist for more.
Section 179 Expensing and Bonus Depreciation Revised Down for 2012
Public Accountant, Wendy McCullough joins “Money Talks” to remind business owners about the reverted limits for Section 179 expensing and bonus depreciation.