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You can be formal or casual in workplace dress standards depending on the personality of the organization. “In general, an employer may establish a dress code which applies to all employees or employees within certain job categories,” according to the U.S. Equal...

Although 40 percent of U.S. small business owners consider themselves to be financially illiterate, 81 percent still handle their own business finances, according to a 2014 Intuit study. The federal government has dubbed April “National Financial Capability Month” in...

The additional 0.9% Medicare tax applies to FICA wages and self-employment income exceeding $200,000 per year ($250,000 for married filing jointly and $125,000 for married filing separately). Unfortunately, the withholding rules have been tripping up some taxpayers, causing them...

Happy Tax Day!

E-Verify’s purpose is simple: that is, to give you an easy way to find out whether the information job applicants and employees record on their I-9 forms is consistent with Social Security Administration records. It emerged early in the last decade after a series of...

E-filing is on the upswing. According to the Data Book released by the IRS on March 24, the agency collected almost $3.1 trillion in federal revenue and processed almost 240 million returns during fiscal year 2014. About 65 percent of all returns were filed electronically. Of the...

When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs (though of course the specific rules are more complex). If when filing your 2014 income tax return you’ve found that your business had an NOL, there is an upside: tax benefits....

Farming businesses encompass a wide range of operations. All individuals, partnerships, or corporations that cultivate, operate, or manage farms for profit, either as owners or tenants, are designated as farmers. The term “farm” includes livestock, dairy, poultry,...

It is generally more tax-efficient to be paid a salary than to receive dividends, given that salary expense is deductible and dividends are paid on an after-tax basis. If the IRS thinks some portion of your salary really should be treated as a distribution of profit, that portion...

With a population of about 76 million people, the “Millennial” generation is expected to soon overtake Baby Boomers as the largest living generation in the United States. In 2015, Millennial consumers will spend an estimated $2.45 trillion worldwide, according to a...