Three Tips to Avoid Employee Legal Issues
Employee legal issues can arise at any time. They can be expensive and even ruinous to your business. Here is a trio of common issues you should understand in order to prevent them. Compliance with Wage Requirements Are you classifying your employees correctly in accordance with the Fair Labor Standards Act (FLSA)? Previous year alone, there was an 8% increase [...]
Win Against the IRS
On the surface, your tax return looks neat and tidy. We put your numbers in the right slots, and our typefaces fit nicely into the IRS tax forms. But when you and the IRS disagree about an item on your tax return, you need more than numbers in pretty fonts in the right slots. You need authority on your side [...]
Target These Areas for Better Employee Retention
Employee retention starts with providing fair compensation and benefits, but it doesn’t end there by any means. You can improve employee loyalty by concentrating on these four areas: 1. Performance objectives. Employees want to do a good job, and they want to know how they need to improve. Don’t keep them in the dark. Let them know how they’re doing, [...]
IRA: Traditional or Roth?
Looking to fund your retirement with an IRA? You should know that there are two types: Traditional and Roth. Which is right for you? Following are some important details to help you decide: Are You Eligible? Any person with income from wages or self-employment can contribute to an IRA – either traditional or Roth. That includes children, as long as [...]
Child and Dependent Care Credit
You may be able to claim the child and dependent care credit if you pay expenses for the care of your under-age-13 child or other qualifying person to enable you (and your spouse, if filing a joint return) to work or look for work. Tax credits are the best because they give you a dollar-for-dollar tax benefit. The credit is [...]
Avoid Filing Separate Partnership Tax Return
As you know, running a business often means filing a separate business tax return. But you may not be aware that for certain partnerships, you can avoid the separate return and report the activity directly on your individual tax return, such as for the three activities below: The qualified joint venture election is available if you and your spouse are [...]