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Publications

Tuesday, November 19, 2019

FAQs About Self-Employment Tax

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Do you owe self-employment (SE) tax on non-wage income that you collect only occasionally or in a one-off circumstance? Some sources of income may not be subject to the dreaded SE tax. Here’s what you should know if you earn income from “irregular” sources. Realty Check: Random Income Isn’t Tax-FreeIrregular income might be free from self-employment […]

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Tuesday, November 19, 2019

The Gender Pay Gap: How Does Your Company Measure Up?

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The gender pay gap persists, despite recent improvements. Census data over the past decade indicates that, on average, women earn roughly 80 to 85 cents for every dollar earned by men in comparable job positions.   This is a hot topic in political circles. But it can be a problem at your company — even if […]

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Tuesday, November 19, 2019

What Employers Should Know about HSAs

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Health Savings Accounts (HSAs) are a tax-smart way to cover an individual’s uninsured medical expenses, as well as certain other out-of-pocket medical, dental, vision, hearing, long-term care expenses and insurance premiums. Your business can set up HSAs for qualifying employees. Then the business can fully or partially fund the accounts or let employees fund them with […]

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Tuesday, November 19, 2019

Get Real: New ID Requirements for U.S. Travel

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Soon you may not be able to pass through security checkpoints at your local airport using your current form of identification, even if you’re just flying domestically. The crackdown is aimed at U.S. citizens who don’t yet have a “Real ID-compliant” driver’s license, United States passport, United States military ID or another acceptable form of identification.  […]

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Wednesday, October 30, 2019

Take Time to Review Your Retirement Savings Strategy

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While you’re considering health care benefits options during your “open enrollment” period, you should also take stock of your retirement savings strategy. Are you saving enough to cover your retirement needs? The answer depends on many factors, including your expected living expenses, bucket list items (such as travel and hobbies) and potential medical and long-term care […]

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Wednesday, October 30, 2019

How to Reduce the Tax Hit on Soon-to-Be-Developed Land

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In many places, real estate prices are soaring. That’s good news for owners of undeveloped land in those areas. But if they decide to subdivide and develop highly appreciated property, it could trigger a whopping income tax bill. Fortunately, there’s a way to reduce the tax hit: Set up an S corporation to develop and sell […]

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Wednesday, October 30, 2019

Relaxed Rules for Joint Employers: Proceed with Caution

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Being classified as a “joint employer” means that you, and the other business considered to be in the joint relationship with you, are equally responsible for complying with the Fair Labor Standards Act (FLSA). If the other entity fails to comply with FLSA requirements, you could be left holding the bag.  Suppose, for example, you own […]

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Wednesday, October 30, 2019

Open Enrollment: Make the Most of Your Health Care Benefits Options

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It’s open enrollment season at many companies. If you’re lucky enough to work for a company that lets workers choose from a menu of health care plans, review your options carefully. Though it’s easy to stick with what you’refamiliar with, a lot is at stake, both financially and in terms of the quality of health care […]

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Monday, October 28, 2019

Partnerships Need to Disclose Significantly More Information to IRS than in Years Past Beginning with 2019 Filings

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On September 30, 2019, the Internal Revenue Service (IRS) posted copies on its website of draft 2019 Form 1065 U.S. Partnership Return of Income, draft 2019 Form 1065 (Schedule K-1) Partner’s Share of Income Deductions, Credits, etc., draft 2019 Form 8865 Return of U.S. Persons With Respect to Certain Foreign Partnerships, and draft 2019 Form […]

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Thursday, October 17, 2019

Year-End Tax Planning Moves for Small Businesses

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It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019 business tax bill before ringing in the New […]

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