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As an employer, your size – for purposes of the Affordable Care Act – is determined by the number of your employees. If you hire seasonal or holiday workers, you should know how these employees are counted under the health care law. Employer benefits, opportunities and requirements are dependent upon your organization’s size and the applicable rules. If you have at least 50 full-time employees,...

New Law Sets Jan. 31 W-2 Filing Deadline; Some Refunds Delayed Until Feb. 15 A new federal law moves up the W-2 filing deadline for employers and small businesses to Jan. 31. The new law makes it easier for the IRS to find and stop refund fraud. It also delays some taxpayer refunds. Those taxpayers claiming the Earned Income Tax Credit or the Additional Child Tax Credit won’t see refunds until...

When the year begins to wind down, many small businesses wonder if there are any last-minute tax tips that can save some money when they pay taxes. After all, once the year is up you may lose the ability to claim certain deductions or benefits, so it makes sense to ensure you’re taking advantage of every opportunity available. Here are some small business tax tips that can work for year-end...

Organizations across the country are responding to the U.S. Department of Labor’s new overtime salary threshold by reclassifying some of their exempt employees into overtime-eligible nonexempts. Starting Dec. 1, the new DOL rules take effect that nearly double the salary threshold at which most salaried workers become exempt from having to be paid overtime. The overtime ceiling will rise from...

Self-employment can be hard, but if it was easy, everyone would do it, right? In an attempt to lighten your load and ease your burden, whether you are just trying to make the October 17 tax extension deadline, figuring out estimated taxes, or are gearing up for next tax season, take a look at these six tax tips for the self-employed and some of the most missed tax deductions. Work Expenses and...

As a business owner, you probably thrive in a DIY environment; but the more hats you wear, the less you’ll accomplish successfully. Accounting is one of the most important areas for keeping your company profitable. As you start out and your company grows, software can only take you so far. A CPA can help your company move forward. Below are reasons why your business needs a CPA in all stages of...

Taking the family along on a business trip this summer? Learn how to save on your taxes and take the tax deductions you’re entitled to on your working vacation. It’s tricky to mix, but with the right mindset and careful planning, you can take advantage of some travel related tax deductions for business. Working Vacations If you’re attending a business conference or meeting in another city and...

There’s been a large increase lately in the popularity of multilevel marketing companies and people, especially women, becoming a part of these businesses as a side income or even as a full time career. The rise of these companies such as Stella & Dot, Avon, Mary Kay, Young Living, Herbalife, Rodan + Fields creates a unique tax situation that many of these direct sellers may not be familiar with....

Are you an employer? If so, you’ve got a major challenge to accomplish in the next few months. Most businesses aren’t ready for the new overtime rules and worker classification changes to the Fair Labor Standards Act (FLSA) that the Department of Labor recently published, which will impact millions of U.S. workers and their employers. The new overtime rules go into effect December 1, unless...

The Internal Revenue Service today reminded people with home-based businesses completing their 2015 federal income tax returns that they can use the simplified home office deduction when claiming a deduction for business use of a home. In tax year 2013, the most recent year for which figures are available, more than 3.4 million taxpayers claimed deductions totaling just over $9.6 billion for...