Posts from November, 2016

  • Overtime Laws Are Changing in December The rules for overtime pay are changing and small business owners need to know how these changes will impact their business. Beginning December 1, 2016, the U.S. Department of Labor (DOL) will require employers to pay their employees overtime pay when they work more than 40 ... Continue Reading
  • New Due Date for Filing Forms W-2/W-3 and Form 1099-MISC. Now is a great time to verify that you have the correct information for your employees and contractors, so that processing W-2s and 1099-MISCs will flow smoothly in January. The new due date for remitting your W-2s and W-3s to the Social Security Administration is January ... Continue Reading
  • Are You Paying Yourself Enough? As the owner of an S corporation, you’re probably aware that there’s a tax advantage to drawing money out of the corporation as a distribution rather than as wages. The reason is simple. Unlike wages, distributions you take out to the extent of basis in your corporate stock ... Continue Reading
  • IRS Will Hold Refunds on EIC and ACTC Until February 15th As a part of the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) enacted in December 2015, credits or refunds of tax overpayments will not be released before February 15th to taxpayers claiming the Earned Income Tax Credit (EIC) or Additional Child Tax Credit ... Continue Reading