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Monday, 15 April

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Understanding and controlling the unemployment tax costs of your business

Keith Orr

Posted By: Keith Orr

Posted October 19, 2019 / No comments

As an employer, you must pay federal unemployment (FUTA) tax on amounts up to $7,000 paid to each employee as wages during the calendar year. The rate of tax imposed is 6% but can be reduced by a credit (described below). Most employers end up paying an effective FUTA tax rate of 0.6%. An employer

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Shop carefully when looking for an EAP vendor

Cynthia Petschke

Posted By: Cynthia Petschke

Posted October 11, 2019 / No comments

In today’s high-anxiety world, it’s not uncommon for employees to battle personal problems such as substance dependence, financial and legal woes, and mental health issues. These struggles can negatively affect their productivity and the working environment around them. Employers can help by offering an employee assistance program (EAP). This benefit seeks to assist at-risk employees

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Responding to an employee’s request for a service dog

Robert Tighe

Posted By: Robert Tighe

Posted October 4, 2019 / No comments

There are thousands of service dogs hard at work in the United States today. Assuming it hasn’t happened already, you may eventually field a request from either a new hire or existing employee to bring one of these animals into your workplace. It’s critical in such instances to take the request seriously and understand your

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Cash balance plans offer an intriguing pension possibility

Robert Tighe

Posted By: Robert Tighe

Posted September 30, 2019 / No comments

Pension plans aren’t as popular as they used to be. For years now, employers have been moving from defined benefit plans (pensions) to defined contribution plans such as 401(k)s. But one type of hybrid pension that remains relatively popular is the cash balance plan. Examining the concept With a cash balance plan, the employer commits

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Small businesses: Can’t offer an FSA? Consider a QSEHRA

Keith Orr

Posted By: Keith Orr

Posted September 25, 2019 / No comments

Like many small business owners, you may be unable to sponsor a major medical plan at this time. Perhaps you’ve thought about sponsoring a health Flexible Spending Account (FSA) instead. Unfortunately, under federal regulations, you may not be able to do that either. There is, however, a relatively new option available to you. Compliance rationale

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Budgeting is key to a successful start-up

Cynthia Petschke

Posted By: Cynthia Petschke

Posted September 24, 2019 / No comments

More than half of recent college graduates plan to start a business someday, according to the results of a survey published in August by the American Institute of Certified Public Accountants (AICPA). Unfortunately, the AICPA estimates that only half of new businesses survive the five-year mark, and only about one in three reach the 10-year

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5 ways to withdraw cash from your corporation while avoiding dividend treatment

Robert Tighe

Posted By: Robert Tighe

Posted September 23, 2019 / No comments

Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient, since it’s taxable to you to the extent of your corporation’s “earnings and profits.” But it’s not deductible by the corporation. Different approaches

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How to treat your business website costs for tax purposes

Timothy King

Posted By: Timothy King

Posted September 23, 2019 / No comments

These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it. But determining the proper tax treatment for the costs involved in developing a website isn’t so easy. That’s because the IRS hasn’t released any official guidance on these costs yet. Consequently, you must apply

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Keep your head in the game to attract IT talent

Robert Tighe

Posted By: Robert Tighe

Posted September 21, 2019 / No comments

There’s little doubt that nearly every type of employer will continue to rely on technology to beat — or even just keep up with — their competition. This means not only acquiring the right hardware and software, but also hiring and retaining the brightest IT people. Indeed, organizations that fall behind in tomorrow’s marketplace may

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The key to retirement security is picking the right plan for your business

Timothy King

Posted By: Timothy King

Posted September 3, 2019 / No comments

If you’re a small business owner or you’re involved in a start-up, you may want to set up a tax-favored retirement plan for yourself and any employees. Several types of plans are eligible for tax advantages. 401(k) plan One of the best-known retirement plan options is the 401(k) plan. It provides for employer contributions made

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