How To Classify Your Workers
When you hire someone to work for you, the worker will likely be considered either an employee or an independent contractor. Usually, you will decide whether you want to onboard an employee or simply hire a contractor prior to advertising for the available position. That way, whoever comes across your job post will know whether they can expect employment or a contract job prior to applying for the position.
HR & Payroll Goals for Small Businesses
Because small businesses often have limited assets, it's vital that they prioritize their human resource objectives. Staffing, budgeting, legal compliance and outsourcing are top goals to consider.
How To Handle Intangible Assets
Intangible assets have long existed — rights such as copyrights, leases and government subsidies — but other electronic properties are gaining recognition, too. Intangibles run a wide spectrum, from patents and trademarks to less visible concepts like culture and networking or to even more latent infrastructure, such as industry protocols, standards or trusts.
When Death Do Us Part
Unlike a unilateral will, a prenup is a bilateral agreement crafted between two people. Ideally, a prenup will be drafted in alignment with the corresponding will. However, in situations in which the two documents are in direct contradiction with one another, courts tend to prioritize the prenup over the will as long as the former document was negotiated fairly between the two involved parties.
What To Do If Your Business Is Audited
So, you just found out your business is getting audited. Don't panic! You can get through it. The first thing to check is whether it's a real audit. The IRS emphasizes that it always initiates audits by mail. If you get a phone call or an email, it's a fraud.
Long-Term Advantages of Home Ownership
There are two big tax benefits you get when owning a home: You can deduct the mortgage interest that you pay each year and you can deduct at least a portion of your property taxes.
What Are the Different Types of Trusts?
Trusts are used in estate planning to transfer assets to beneficiaries. Trusts have some advantages over wills, including skipping probate. That's pretty basic. But it gets complicated when you try to figure out which type is right for you. Know the options available to help you make an informed decision.
How to Navigate an Individual Tax Audit
While it is accurate to say that the IRS has audited significantly fewer people, less than 1% of individual tax returns are audited and the majority of audits nowadays are handled from a distance rather than in person, these changes do not mean that you will never be selected by the IRS for an in-person audit of your tax forms.
What challenges have your employees been facing, and how can you offer the solutions they need? Deciding on a home office reimbursement policy can be the difference between successful work-at-home policies and dysfunction, disgruntlement and maybe even lawsuits.
Once you’ve become comfortable with the idea that you want your business to continue after you’re no longer around, you must plan for succession in order for it to become a reality. How do you start?
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