Maximize Pay, Minimize Taxes: A Guide to Fringe Benefits for Employers and Employees

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Article Highlights: Employment Fringe Benefits Group-Term Life Insurance Employer Retirement Contributions Group Health Insurance Pretax Flexible Spending Arrangements: Qualified Transportation Fringe Benefits De Minimis…

Behind on Payroll Taxes? This Is the Most Dangerous Tax Debt Your Business Can Have

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A slow quarter? You can recover from that. A late income tax payment? There are payment plans. Vendor pressure? Negotiable. But payroll tax debt? That’s different. If your business is behind on payroll taxes, you’re in one of the most…

Tax Consequences of Employee Holiday Gifts

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Article Highlights: De Minimis Fringe Benefits Cash Gifts Gift Certificates and Debit Cards Non-cash Vouchers Group Meals Tax Compliance and Planning It is common practice this time of year for employers to give their…

Remote Employees, Reimbursements & Taxes: The Two Paths You Can Take

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Your team’s remote. They’ve got internet bills, home office gear, maybe extra phone costs. And you—being the good boss you are—want to cover those costs. But here’s the catch: how you reimburse them changes everything. There…

How Employers Can Establish and Fund Employee Pensions with Tax Incentives

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Article Highlights: Tax Credit for Employer Contributions to New Retirement Plans Retirement Plan Qualifications Employer Qualifying Contributions Employer Eligibility Phase-Out Based on Number of Employees Employee Qualifications …

IRS Highlights New Warning Signs for Businesses Regarding the Employee Retention Credit

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In the wake of the COVID-19 pandemic, the Employee Retention Credit (ERC) emerged as a vital financial lifeline for businesses. However, as the IRS intensifies its scrutiny of ERC claims, it has unveiled five new warning signs that businesses…

Employee or Freelancer Navigating the Complex Landscape of Worker Classification  

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Article Highlights: The Fundamental Differences The Perils of Misclassification Section 530 Relief The Role of Form SS-8 States Impact on Classification Navigating Misclassification In the evolving landscape of the modern…

Employers Beware: ERC Voluntary Disclosure Program Ends Soon

Article Highlights: ERC Background. TV Promoters and Marketeers. IRS Programs to Withdraw Erroneous Claims. ERC Voluntary Disclosure Program. How to Apply for the Voluntary Disclosure Program. ERC Claim Withdrawal Program. The…

Are You Taking Advantage of Your Employer’s Fringe Benefits?

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Article Highlights: Qualified Transportation Fringe Benefits (QTFB) Group Term Life Insurance (GTLI) Accident and Health Benefits Flexible Spending Arrangement Exclusion for Qualified Employee Discounts Dependent Care Assistance…

Great News for Employers Who Received Questionable Employee Retention Credits

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 Article Highlights: Combating Dubious Employee Retention Credit (ERC) Claims New Voluntary Disclosure Program Employer Benefits Applying for the New Voluntary Disclosure Program When the 80% is Due Installment Payment Plan …