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Category: Tax Laws

Classify Your Nonprofit’s Workers Correctly — Or Risk Repercussions

Posted on May 4, 2022

Many not-for-profits are understaffed in 2022, thanks to a labor shortage and pandemic-related budget shortfalls. Some organizations are filling the gaps with freelancers and contractors. However, such decisions can lead […]

Posted in Ethics, Hiring, HR, IRS, Nonprofit, Payroll, Reporting, Tax LawsTagged FLSA, Independent Contractor, nonprofit staffing

Entrepreneurs And Taxes: How Expenses Are Claimed On Tax Returns

Posted on February 22, 2022February 22, 2022

While some businesses have closed since the start of the COVID-19 crisis, many new ventures have launched. Entrepreneurs have cited a number of reasons why they decided to start a […]

Posted in Deductions, Planning, Reporting, Risk Assessment, Small Business, Tax, Tax LawsTagged Entrepreneurs, New Business Venture, Start Up

How Will Revised Tax Limits Affect Your 2022 Taxes?

Posted on February 11, 2022February 11, 2022

While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures […]

Posted in Deductions, Donation, FICA, Investments, Personal Taxes, Planning, Reporting, Retirement, Tax, Tax LawsTagged Revised Tax Limits

Many Factors Are Involved When Choosing A Business Entity

Posted on December 13, 2021December 13, 2021

Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for you — a C […]

Posted in Business Valuation, Financials, Internal Control, Partnership, Planning, Risk Assessment, Small Business, Start Ups, Tax LawsTagged Business Entity, corporate federal income tax

Who In A Small Business Can Be Hit With The “Trust Fund Recovery Penalty?”

Posted on August 26, 2021August 23, 2021

There’s a harsh tax penalty that you could be at risk for paying personally if you own or manage a business with employees. It’s called the “Trust Fund Recovery Penalty” […]

Posted in Deductions, IRS, Payroll, Regulation, Small Business, Tax, Tax LawsTagged Income Taxes, Social Security Taxes, Trust Fund Recovery Penalty

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The articles in this blog are published with the understanding that the authors are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use.

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