Recent surveys show that the survival rate of new businesses averages about 20% over a five-year period. In other words, if you start 100 new businesses today, 20 of them will still be in business in five years. The other 80 will have gone out of business sometime during that five-year period. These are generally well-known statistics. What isn’t as well known, however, is that of...

Last year a client asked the following question: I recall that earlier in 2010 an accountant at your firm suggested that I could reduce my payroll taxes if I change my business status to a S corp.I dont recall if that was officially done, although I recall providing some information for paperwork. Our answer to that question: It is true that an S-Corp could help reduce...

Labor Department expands coverage to 1.3 million more employees by raising earnings threshold. Workers in industries such as fast food, retail, higher education and nonprofits will be affected by the change. PHOTO: CHRISTOPHER DILTS/BLOOMBERG NEWS By Andrew Ackerman and Sarah ChaneySept. 24, 2019 900 am ET WASHINGTON—An additional 1.3 million Americans are set to qualify for overtime pay under a retooled Labor Department regulation completed Tuesday....

As a result of the recent Uber court case holding cab drivers to be employees (Click here to read the court's decision), the recent doubling and tripling of penalties for non-filed W-2's and 1099's and, among other things, various employer attempts to reclassify W-2 employees as independent contractors to avoid the 50 employee threshold for health insurance under the Affordable Care Act, we want to provide...