A. The new tax reform law, commonly called the “Tax Cuts and Jobs Act” (TCJA), is the biggest federal tax law overhaul in 31 years, and it has both good and bad news for taxpayers. Below are highlights of some of the most significant changes affecting business taxpayers. Except where noted, these changes are effective […]
employees
7 Most Dangerous Errors In Employee Handbooks
7 Most Dangerous Errors In Employee Handbooks An employee handbook can be the foundation of employee performance and a shield against lawsuits … or it can be a ticking time bomb that confuses employees and strips away your legal defenses. It all depends on how well it’s written and put to use. Too often, handbooks […]
Fringe Benefits – Types Of Benefits For Employees
Fringe Benefits – Types Of Benefits For Employees In today’s tight job market, a good fringe benefit package is often essential. Certain perks can be deducted by your company as business expenses but don’t have to be included in employees’ incomes. Qualified transportation fringe benefits belong in this category. Here’s a list of some others: […]
Independent Contractors – Classification
Independent Contractors – Classification – Don’t Ignore Other Types Of Workers In addition to employees and independent contractors, there are two other categories that workers can fall into. If you hire either of these types of workers, be sure to handle the paperwork properly to avoid IRS audit headaches and penalties: Statutory employees don’t have […]
Independent Contractors – Regulations
Independent Contractors – Regulations – Prevent An IRS Challenge For years, the IRS has skirmished with small businesses over whether workers should be considered independent contractors or employees. Although numerous legislative fixes have been introduced in Congress, none have passed. Against this stalemate, here’s what you need to know to protect your business against IRS […]
Independent Contractors – Guidelines
Independent Contractors – Guidelines Independent Contractor Or Employee ? Check The 20 Questions. The IRS and the courts traditionally rely on a 20-factor test to decide if your company has enough control over a worker to categorize him as an “employee.” (IRS Revenue Ruling 87-41) However, the questions may be inconclusive since some may not […]
Hire Your Spouse As An Employee
Hire Your Spouse As An Employee If you’re like many small business owners, your spouse helps out at the office. So why not make your spouse an official employee of the company? RETIREMENT PLANS – Your spouse will be entitled to retirement benefits from any qualified plan that your company provides regular employees. If you […]
Employers May Deduct The Cost of Health Coverage For Employee – Spouses
Employers May Deduct The Cost Of Health Coverage For Employee-Spouses In an ISP coordinated issue paper, the Service has concluded that an employer who employs his spouse may deduct the cost of accident and health coverage for the employee-spouse if the spouse receives the coverage as an employee. The Service also concluded that the employee-spouse […]
What To Do When You Suspect An Employee Is Stealing From The Company
What To Do When You Suspect An Employee Is Stealing From The Company Few HR dilemmas are as sticky as dealing with the possibility that an employee is stealing from the company. You need to handle it with almost surgical precision to guarantee the company does not overstep its bounds and expose itself to liability. […]