, and you’re probably exempt from paying sales tax on your inventory or raw materials. But what about the supplies you buy for consumption in your business? If you’re not paying sales tax on those purchases, you may owe consumer use tax. And if you’re not charging tax on products you sell to your customers, [...]
WASHINGTON — The Internal Revenue Service and its Security Summit partners today issued an alert to taxpayers and tax professionals to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act. The IRS has received numerous reports around the country of scammers sending a fraudulent version [...]
WASHINGTON – With a key certification deadline fast approaching, the Internal Revenue Service today urged employers to take advantage of a valuable tax credit designed to help those who hire long-term unemployment recipients, certain veterans, recipients of various kinds of public assistance and other workers who face significant barriers to employment. The Protecting Americans from [...]
The nation’s leading small business trade group on Tuesday asked the Labor Department to delay a new rule making millions of Americans eligible for overtime pay, saying employers aren’t prepared to implement it when it goes into effect Dec. 1. “In many cases, small businesses must reorganize their work forces and implement new systems for [...]
Divorce among couples near retirement age has its own custody complications: how to divvy up the retirement accounts. For baby boomers, divorce is soaring. The divorce rate among adults over age 50 doubled between 1990 and 2014, according to a report by the National Center for Family & Marriage Research. For those over 65, divorces [...]
If you’re in the midst of starting a new business, then the bookkeeping requirements are unlikely to be at the forefront of your mind. At this stage there can be far more pressing things for you to think about. However, once your business is taking shape, you will need to start thinking about keeping up-to-date [...]
As a small business owner, you’re probably well aware of the challenges associated with keeping your business up and running—and turning a profit. Each day offers greater potential, but you must first learn to navigate the potential pitfalls. Of course, it helps to take advantage of any tax breaks that come your way. According to [...]
The Department of Labor announced new rules that will require financial advisors and brokers to act in the best interests of their clients when handling individual retirement and 401(k) investment accounts. Seems like common sense? It is, but unfortunately the advice provided by brokers isn’t always in their client’s best interest but rather the amount [...]
Employer anxiety about offering you a 401(k) plan is rising rapidly, and for potentially good—and expensive—reasons. Class-action lawyers are targeting a wider variety of alleged breaches of fiduciary duty in retirement offerings and suing a broader range of entities, including college and university 403(b) plans. The latest burst of litigation came Wednesday by Schlichter Bogard & Denton, a law firm with a track [...]
Whether it’s “Family First” or “America First,” small business owners say economic policy is their chief concern heading into the presidential election. In Manta’s most recent election poll, small business owners rated economic policies, health care reform and immigration policies as the most important factors in voting for either Donald Trump or Hillary Clinton. Asked [...]
