Focus on Your Top Priorities

Focus on Your Top Priorities

Every small business owner knows that it takes never-ending effort and constant work to build a successful company. There are so many things to do, and only so many hours in a day! But you can’t allow yourself to become too busy to focus on the most important tasks. Many entrepreneurs find themselves in a […]

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LLC Documentation: Required vs. Needed

LLC Documentation: Required vs. Needed

In the world of business entities, the Limited Liability Corporation (LLC) is a relative newbie in the United States. Unlike the corporation, which has been around since before the birth of the United States, laws concerning LLCs can still be a bit vague and controversy can arise when legal issues concern the LLC. Due to […]

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Consultant’s Corner: Tax Treatment of Tipped Employees

Consultant’s Corner: Tax Treatment of Tipped Employees

Question: Are tips received and reported by a waitress taxable for unemployment calculations? Tips reported by a restaurant waitress to an employer are taxable for unemployment tax calculation purposes, subject to certain thresholds and guidelines. Also, there are additional tax treatment considerations for different types of food service businesses and tip and gratuity procedures that […]

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Retirement Plans

Retirement Plans

You can set up and maintain the following small business retirement plans for yourself and your employees. SEP (Simplified Employee Pension) plans SIMPLE (Savings Incentive Match Plan for Employees) plans Qualified plans (including Keogh or H.R. 10 plans) SEP, SIMPLE, and qualified plans offer you and your employees a tax favored way to save for […]

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