Tax Preparation, Insurance, Payroll, Medicare and Business Advisement in Jamestown NY
When to file The IRS has redesigned the Form W-4 due to changes in the tax law that eliminated personal exemptions/allowances. The new Form W-4 should make it easier for you to make any changes to your employer tax withholding. There are several … [Read more...] about Changes to your Form W-4
How to protect your business For organizations of every size and type, data security is essential for IT. Hackers are constantly finding ways into our data, which requires constant vigilance by business owners. Being proactive is the key to … [Read more...] about Cyber Security
Accountable Plan Basics Businesses can reimburse owners and employees for out-of-pocket expenses under an accountable plan, a set of rules and processes that allow tax-free reimbursements of certain business expenses. To qualify, an accountable … [Read more...] about Tax-Free Reimbursements of Business Expenses
Ask yourself three simple questions Entrepreneurs who want to set up a retirement plan for their business have three options: SIMPLE IRA, SEP IRA, and solo 401(k) plans. Each of these retirement plans enables business owners to save money for … [Read more...] about Choosing the Right Retirement Plan
What to look for and how to protect yourself Under the right circumstances, sole proprietors and other small businesses can reimburse employees for legitimate out-of-pocket medical expenses up to the annual limits. By implementing a … [Read more...] about Qualified Small Employer Health Reimbursement Arrangements
Is your S corp paying you enough? Entrepreneurs often struggle with the question of how much to pay themselves. The underlying rule is that individuals who own and operate their business through an S corp need to pay themselves a “reasonable” … [Read more...] about Reasonable Compensation
