Insights
New IRS Program for Employers to Reclassify Workers
Posted by: admin | Posted on: September 26th, 2011
The IRS just announced a new program that will allow businesses to reclassify independent contractors as employees at a relatively low tax cost. This happened shortly after the Labor Department announced a new program to team up with states and other federal agencies to crack down on the misclassification of employees as independent contractors. This article explains the basics of both programs.
Could Your Business Outsource Sales Functions?
Posted by: admin | Posted on: September 15th, 2011
Many companies have turned to outsourcing finance and information technology tasks but they have not considered outsourcing some or all sales functions. Sales is an area that businesses are now outsourcing more today than they have in the past. Is this a possible option and a source of savings for your company?
Taxes: Beware of the Perils of Poor Recordkeeping
Posted by: admin | Posted on: September 15th, 2011
If you fail to keep the proper records, valuable deductions can be lost. In two new Tax Court cases, the taxpayers’ records were found to be inadequate or not credible. This article explains why the Court disallowed their deductions, along with information about proper recordkeeping and one way taxpayers are occasionally bailed out when they don’t have complete documentation.
Can You Count on Your Defined-Benefit Plan?
Posted by: admin | Posted on: September 15th, 2011
A defined-benefit plan is a pension plan where the company promises to pay participants a certain benefit, with the entire cost typically funded by the company. In times of a lower market, those plans can come under considerable pressure.
Don’t Make These Estimating Mistakes
Posted by: admin | Posted on: September 15th, 2011
Determining how much to save by retirement age means considering many variables. Some of those variables require estimates that will span decades. Err significantly with those estimates and you could end up with no money left during the later years of your life.