Advisory Articles
The Importance of a Buy-Sell Agreement for Business Co-Owners
Posted by Benjamin Schuver on July 15, 2024
A buy-sell agreement is essential for businesses with co-owners, as it provides financial protection, ensures ownership stability, and helps avoid IRS complications. This agreement outlines how a co-owner's share will be handled in case of events like death or disability, often funded through life insurance to facilitate the buyout process. Properly drafted agreements safeguard the interests of all parties involved and ensure smooth transitions.
Record Guidelines for Income and Expenses During an IRS Audit
Posted by Michelle Waddell on April 08, 2024
A case study details the IRS scrutiny and how important recording keeping is.
Correctly Reporting Independent Contractors to the IRS
Posted by Kevin Smeader on January 10, 2024
It is essential to maintain completed Form W-9s on file for independent contractors. To assist you in obtaining this crucial information from workers and filing it with the IRS, we provide valuable tips.
Business Ownership Tax Consequences in Divorce
Posted by Benjamin Schuver on August 28, 2023
As a business owner your business is your largest asset, and during a divorce the transfer of that asset has tax implications.
Benefit to Nonprofits to Outsource Human Resource Functions
Posted by Thomas Burns on August 02, 2023
Before deciding to outsource your human resource functions you need to examine the level of services being outsourced, the value, and the cost. It is also important to consider the impact on your workforce, and make sure to involve management and Board of Directors.
Tax Status of an Employee vs. Independent Contractor
Posted by Kathryn Mellon on May 19, 2023
For IRS purposes, there are definite differences between an employee and an independent contractor; you should understand how they are classified.
Employee Benefit: Education Assistance Fringe Benefit Programs
Posted by Jennifer Maloney on May 09, 2023
Employee fringe benefits are a great way to retain and recruit employees, there are also tax benefits.
Required Tracking of Employee Time
Posted by Caitlin Root on April 26, 2023
This article presents a few tips to stay update to date and in compliance with federal and state wage-and-hours laws related to tracking employee hours worked.
Retirement Plan Options for Small Businesses
Posted by Thomas Burns on April 13, 2023
If you’re a small business owner, you may be reluctant to set up a retirement plan because of the administrative burdens. Here are two options to consider that have far fewer requirements than traditional qualified retirement plans.
The Risks of Moving a Trust to Another State Jurisdiction?
Posted by Robert Ingrasci on April 12, 2023
The variables are many when determining whether you can move your trust to another state.