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By distributing profits in the form of dividends rather than salary, an S corporation and its owners can avoid payroll taxes on these amounts. Because of the additional 0.9% Medicare tax on wages in excess of $200,000 ($250,000 for joint filers and $125,000 for married filing...

As the U.S. economy strengthens, don’t be surprised if your best salespeople ask for a raise — and if they don’t receive it, leave for greener pastures. To keep good people, you not only need to offer a compensation plan that acknowledges job market competition but also motivates...

You may be tempted to forget all about your taxes once you’ve filed your tax return, but that’s not a good idea. If you start your tax planning now, you may avoid a tax surprise when you file next year. Also, now is a good time to set up a system so you can keep your tax records...

A Health Savings Account (HSA) represents an opportunity for eligible individuals to lower their out-of-pocket health care costs and federal tax bill. Since most of us would like to take advantage of every available tax break, now might be a good time to consider an HSA, if...

In the summer months, we celebrate American independence and ingenuity. Another way business owners can show patriotism is to consider whether it makes sense to bring their offshore business back to the United States. In many cases, “reshoring” can be a wise financial...

With nonqualified stock options (NQSOs), if the stock appreciates beyond your exercise price, you can buy shares at a price below what they’re trading for. This is the same as for the perhaps better-known incentive stock options (ISOs). The tax treatment of NQSOs, however,...

Most of us have more than enough to do. We’re on the go from early in the morning until well into the evening — six or seven days a week. Thus, it’s no surprise that we may let some important things slide. We know we need to get to them, but it seems like they can just as easily...

In multiple cases this year, the Equal Employment Opportunity Commission (EEOC) has taken action against employers for alleged discrimination in cases involving disabled individuals. Although the total number of cases filed against employers in 2014 was down slightly from the...

New guidance issued by the U.S. Department of Labor provides clarification on the definition of an independent contractor (Administrator’s Interpretation No. 2015-01). This guidance may be helpful to employers who are contemplating hiring extra workers but are concerned...

“The Department of Labor’s Wage and Hour Division (WHD) continues to receive numerous complaints from workers alleging misclassification, and the Department continues to bring successful enforcement actions against employers who misclassify workers,” said a...