How Employers Can Establish and Fund Employee Pensions with Tax Incentives

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Article Highlights: Tax Credit for Employer Contributions to New Retirement Plans Retirement Plan Qualifications Employer Qualifying Contributions Employer Eligibility Phase-Out Based on Number of Employees Employee Qualifications …

IRS Highlights New Warning Signs for Businesses Regarding the Employee Retention Credit

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In the wake of the COVID-19 pandemic, the Employee Retention Credit (ERC) emerged as a vital financial lifeline for businesses. However, as the IRS intensifies its scrutiny of ERC claims, it has unveiled five new warning signs that businesses…

Employee or Freelancer Navigating the Complex Landscape of Worker Classification  

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Article Highlights: The Fundamental Differences The Perils of Misclassification Section 530 Relief The Role of Form SS-8 States Impact on Classification Navigating Misclassification In the evolving landscape of the modern…

Employers Beware: ERC Voluntary Disclosure Program Ends Soon

Article Highlights: ERC Background. TV Promoters and Marketeers. IRS Programs to Withdraw Erroneous Claims. ERC Voluntary Disclosure Program. How to Apply for the Voluntary Disclosure Program. ERC Claim Withdrawal Program. The…

Are You Taking Advantage of Your Employer’s Fringe Benefits?

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Article Highlights: Qualified Transportation Fringe Benefits (QTFB) Group Term Life Insurance (GTLI) Accident and Health Benefits Flexible Spending Arrangement Exclusion for Qualified Employee Discounts Dependent Care Assistance…

Great News for Employers Who Received Questionable Employee Retention Credits

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 Article Highlights: Combating Dubious Employee Retention Credit (ERC) Claims New Voluntary Disclosure Program Employer Benefits Applying for the New Voluntary Disclosure Program When the 80% is Due Installment Payment Plan …

Employee or Independent Contractor – A Primer for Employers and Employees

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Article Highlights: Distinguishing Employee and Independent Contractor State Legislation Federal Guidelines Partners Advantages of Independent Contractor Status Form SS-8 SE Tax Form 8919 Penalties for Misclassifying…

New Employee Onboarding Best Practices: Factors to Consider for Success

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According to one recent study, replacing an employee who has left your business can cost between 50% to 60% of that person's salary. This is why it's virtually always more expensive to hire a new person than it is to simply retain one of your…

Employer-Offered Benefits That Can Save You Money and Taxes

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Article Highlights:   Health Insurance Retirement Plans Special Rule for Military Spouses Qualified Transportation Fringe Benefits Flexible Spending Accounts (FSAs) Group Term Life Insurance Qualified Employee Discounts …

How Employee Stock Options Are Taxed

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Article Highlights: Non-statutory Option Wage Income Statutory (Incentive) Options Capital Gains Alternative Minimum Tax Many companies, as an incentive to employees to help grow the companies’ market value, will offer…