Compensation and Benefits
Compensation and benefits topics – whether it’s minimum wage, workers’ compensation laws, or employee pay – if properly handled, can help you retain workers and recruit new ones.
Use our advice to craft independent contractor agreements that keep independent contractors – and your bosses – happy.
You’ve spent years building up your C corporation business into a successful operation. But how can you take more cash out of the company now without facing a tax disaster?
Wondering about restrictions on claiming tax deductions for work performed by foreigners?
It’s been going on for years: Business owners frequently clash with the IRS over worker classifications.
Business owners frequently clash with the IRS over whether workers should be considered employees or independent contractors. You face a higher tax burden when workers are considered employees. To help you determine a worker’s classification,use this 20-question test, which has evolved from various court cases and IRS rulings over the years. Most questions relate to the degree of control that you exert over the worker.
Issue: Employers often set new hires' wages, in part, based on salaries at previous jobs.
Risk: A new court ruling says you could run afoul of the Equal Pay Act ...
A great deal of confusion still swirls around one question: Which payments are covered by the new deferred-compensation rules described above.
For the first time, U.S. businesses will be able to write off expenses
related to “qualified domestic production activities.” The so-called
“manufacturing deduction” (or Sect. 199 deduction) is available even to
many companies that wouldn’t normally consider themselves
“manufacturers,” maybe even yours.
It's no fun paying a hefty tax bill when you file your annual return. But Uncle Sam doesn't want to wait that long for your cash. Estimated-tax rules say you must pay a certain amount of tax during the year. If you don't, you run the risk of an underpayment penalty on top of your regular tax bill. Fortunately, you can stop the bleeding with some minor band-aids. Following is the who, what, where and when of estimated taxes ... and how to avoid penalties.
When it comes to health insurance premiums, the good news is relative.
It's true that premiums rose less in 2005 than the previous four years. This year's 9.2 percent average ...
Terminating a class of employees and offering them to return as independent contractors can save you thousands. But it may raise eyebrows. That's why, to avoid lawsuits under the Age Discrimination ...