In the age of remote work and a massive labor shortage, organizations all around the globe are hiring remote workers to fill the gaps within their companies. Read this guide to learn about the basic requirements to be compliant when onboarding and offboarding remote employees.
When you become a business owner, you must make sure you are paying taxes regularly. This is where working with an experienced CPA tax advisor can be extremely helpful in navigating a complex tax world.
Deferring taxes with retirement plans allows you to save on taxes and reinvest those savings and build a much larger portfolio when compared to traditional investment accounts. Knowing the most common plans will help lower your tax bill annually.
CleverProfits’ agency, coaching, and consulting clients. They retain a single layer of tax on all business profits generated while eliminating self-employment taxes for owner-operators.
Failure to file the requisite forms and pay your payroll taxes significantly increases your exposure to an audit by the IRS and your state’s unemployment division which could result in back taxes, penalties, and interest. This is why year-end planning around your compensation is critical.
One of the most important elements of tax planning for S-corporation owners is to consider the amount of W-2 salary paid to the owner of the business.