November 22, 2019
It’s no secret that governments (Federal, state and local) are strapped for cash. One of the ways they’re seeking to fill the coffers is by cracking down more heavily on small businesses regarding their use of independent contractors (ICs). Why? ICs are handy way for small businesses to expand and contract their workforce as needed. But it’s easier (and more lucrative) for the tax authorities to collect withholding taxes from one employer each quarter than to hope—and hope is the operative word—for ICs to pay in that same revenue when they file their tax returns months later. Photo credit: Lip Kee Yap, Republic of Singapore This happened to a client (call it “SB Training”). SB Training hired a colleague on a handshake as an IC to deliver a training program. SB Training paid the IC when the assignment was completed. But when the IC filed for unemployment insurance (because the IC had been let go from her full-time job), she named SB Training as a place where she had worked in the previous year—and unwittingly…
Continue ReadingQ.: What kind of financial reports are minimally required of an LLC, and how often should they be made available to the partners? A.: Minimally, LLCs are required to file annual tax returns for…
Read More“What are you grateful for?” I ask that question in my pre-Thanksgiving issue of All Systems Go! I said: I’m grateful to all of YOU who read All Systems Go! and reach out to share your thoughts…
Read MoreFrom north of the border (Canada) comes some really great advice to help get you jazzed for the upcoming holidays: Find things to celebrate! Yes, you may already be looking back on 2009 as a…
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