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What You Need to Know When Your Business Needs Workers

What You Need to Know When Your Business Needs WorkersUsing other people to operate your money machine.

When your business needs other people's time and efforts, you will be subject to a whole range of rules, laws and forms to file. Compliance with these rules, laws and proper filing of forms will save you much trouble in the future. 

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Understanding Risk Management

Understanding Risk ManagementRisk management covers a wide range of business functions including; business legal entity selection and maintenance, insurable areas, safety management, financial accuracy and theft protection, employee actions, and more

Insurable risks of loss

The fact that your business is a limited liability entity helps manage risk to other assets but does not relieve you from certain legal insurance requirements. The following insurances represent the basic types of insurance required.

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What is "Reasonable Compensation"?

What is Reasonable Compenasation to the IRS?Reasonable Compensation is a current high priority issue for the IRS concerning all corporations, especially S corporations

Wage Compensation for Corporation Officers

Corporate officers are specifically included within the definition of employee for FICA (Federal Insurance Contribution Tax Act), FUTA (Federal Unemployment Tax Act), and federal income tax withholding under the Internal Revenue Code. When corporate officers perform services for the corporation, and receive or are entitled to receive payments, their compensation is generally considered wages. Sub-chapter S corporations should treat payments for services to officers as wages, and not as distributions of cash and property or loans to shareholder or limited liability company members.

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