Business Law and Tax Issues
Business issues and tax problems can seriously affect
the growth and profitability of your business. Here are some ideas to
help:
QuickBooks,and
Financial Accounting To run your business right you need
up-to-date information. Consider QuickBooks, MS Accounting and
Peachtree for smaller and growing businesses.
No Cost
Optional Employee Benefits Employees frequently
look for "benefits" when working for a small employer. Larger companies
frequently have elaborate employee benefit packages that are just too
costly for the smaller business. The solution can be so-called
"optional employee benefits."
Section 125
Cafeteria Plans-Employee Benefits The
Section 125 "cafeteria plan" is a popular tax-saving fringe benefit in
the workplace that allows employees to pick and choose between cash
salary and the non-taxable benefits they want.
Death Benefit
Plans for Business
A Death Benefit plan is a "non-qualified" plan where you company agrees
to pay a death benefit equal to two times your salary for one of your
designated heirs. It is non-qualified because you do not have to offer
this plan to all employees and you can discriminate in favor of
officers and directors.
401(k)
Plans.
It is critical to keep your company's 401(k) plan in compliance with
numerous federal laws and regulations. Plans that are found to be in
violation risk expensive penalties and disqualification.
Employment and Employee Tax
Issues Tax and labor issues dealing
with employees can make or break a business.
Explain
the Tax Implications
of Employee Fringe Benefits Nothing
sours an employee’s initial delight over a fringe benefit or
freebie like being hit with an unanticipated tax bill.
u.
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