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Employee or Independent Contractor? How to Make an Accurate Worker Classification
Hiring an independent contractor offers employers many advantages. Employers do not pay taxes on independent contractors’ wages, nor are they expected to provide benefits as they must with traditional employees. Employers often save 30 to 40 percent on labor costs by...
7 Warning Signs an ERC Claim is Incorrect
To help small businesses looking to resolve incorrect claims, the IRS recently published special warning signs that an Employee Retention Credit (ERC) claim may be questionable or incorrect. With the March 22, 2024 deadline approaching for the ERC Voluntary Disclosure...
The SECURE 2.0 Act and How it Could Affect Your Business
IRS Releases Comprehensive Guidance on Various SECURE 2.0 Act Provisions On Dec. 20, 2023, the IRS issued Notice 2024-2, providing guidance in the form of questions and answers with respect to various provisions of the legislation known as the “SECURE 2.0” Act. SECURE...
