Do you own your own business or are in business with several partners? Are you a CEO of a fairly decent size company with multiple key employees? Do you have a plan in place to address the sudden loss of your partner, your top performing employees, or
Read more →The IRS has issued a fact sheet (FS-2015-22) covering the basic information about business taxes needed by anyone who is self-employed. Generally, an individual is self-employed if they: (1) carry on a trade or business as a sole proprietor or independent contractor, or are otherwise in business
Read more →An eleventh-hour temporary extension of federal highway and transportation spending is partially paid for by new tax compliance requirements. The Surface Transportation and Veterans HealthCare Choice Improvement Act of 2015 (H.R. 3236) was approved by the House, 385 to 34, on July 29th and Senate on July
Read more →Whether to hire an independent contractor or an employee is a commonly asked question by Entrepreneurs. There are many costs and benefits with either side, so the decision must be aligned with your Company’s goals. Hiring a contract worker can help your company reduce its payroll obligations,
Read more →As an Entrepreneur having a hectic schedule with a lot on your plate is the everyday norm. Now with the heavy use of technology there are apps available to help keep you and your books organized so that you can stay on top of your numbers while you
Read more →On Thursday, April 30th, two senior members of the House Ways and Means Committee, Kevin Brady, R-Tex., and Joe Crowley, D-N.Y., reintroduced legislation, the Real Estate Investment and Jobs Bill of 2015 (HR 2128), that would remove a 1980s era tax provision that discourages foreign investment in U.S.
Read more →The entire burden for implementing the Foreign Account Tax Compliance Act (FATCA) falls on U.S. and foreign financial services firms, according to the Securities Industry and Financial Markets Association (SIFMA). In addition, a former acting IRS commissioner who helped oversee the rollout of the anti-tax evasion law
Read more →As companies assess the political landscape for 2015 they will also find an evolving economic outlook, and a heightened focus on tax transparency that could add “incredible uncertainty” to the tax outlook in 2015, says KPMG. Therefore, business executives will need to keep a close eye on
Read more →The IRS’s anticipated fiscal year (“FY”) 2015 budget took center stage at the IRS Oversight Board’s last meeting of 2014. Senior IRS officials remain concerned about potential funding reductions in FY 2015 but are committed to implementing unfunded mandates, such as the Patient Protection and Affordable Care
Read more →The case described below is a perfect example why it is extremely important to be vigilant about the people you hire and the intricacies of how your business is being ran, regardless if you are willfully involved in the illegal act or not. You don’t ever want
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