In a recent blog post, we discussed some tax considerations when incorporating a business. Once a business reaches profitability, an owner or shareholder of an S corporation can take distributions of company profits, which do not require withholdings or payroll taxes.
Regardless of political persuasion, the collection of taxes by the government is supposed to be done in an even-handed way. It is not supposed to favor some political groups over others. Otherwise taxes become an exercise in oppression.
In California, there is a state-specific deadline by which employers must send out 1099 forms to contractors.
The cautionary advice to "under promise, over deliver" has become a mantra of sorts in the service industry.
"Buckle up" is a phrase that has taken on figurative meanings that go well beyond its literal seat-belt buckling roots.
In the sometimes-hermetic world of tax law, there are certain number combinations that have come to take on very specific connotations.
In part one of this post, we noted how recent reductions in funding have diminished the ability of the IRS to deliver first-rate customer service to U.S. taxpayers.
For years, various consultants and spinmeisters have been pushing the notion of “doing more with less.”
"The Road Warrior" was a stylish Australian movie of the early 1980s. It featured a young Mel Gibson, seeking to survive in a desolate landscape after some sort of inexplicable catastrophe.
This is a follow-up to our November 20 post on the difficulty of distinguishing independent contractors from employees. The distinction is of course important not only for payroll tax purposes, but also for other employer expenses, including unemployment taxes and workers' compensation.