The solo participant plan is also known as the one-participant or Uni-k plan. It’s not a separate type of plan but rather a traditional plan designed for a business owner with no employees (or a sole owner with family members). The rules for this plan are the same as those for ...
If you cycle through automobiles every 2–3 years, then the business should own it. If you keep automobiles for 5–7 years, then you should own it and get reimbursed. These are not hard and fast rules. These are rules of thumbs and generalizations. We always caution people who try to ...
This is another wonderful tax service for those who don’t need business advisory services or real estate investment support, but from time to time want some love from an experienced tax consultant and business advisor. Have a quick tax question? Need to know the depreciation rules as you buy...
Once the plan is established, employers are required to contribute to it each year unless the plan is terminated. However, employers may change their contribution decision between the 2% mandatory contribution and the 3% matching contribution if they follow IRS rules.1 Is a SIMPLE IRA Better Than...
The 401K is a win-win. Americans need more in retirement savings and business owners can use this as a tax break if they contribute. It's super easy and low maintenance, and if someone quits they just take it with them. While it's not a unique or unusual benefit to offer, it's ha...
Be compliant:payroll, HR and health care rules and regulations constantly change. You can’t stay on top of it all—but we do, and we make sure you’re safe. Spend less:our payroll solutions for small business are fully customizable. You only pay for what you need—not what you don’...
For vehicles used for your business, you may be able to claim a deduction for depreciation from your income. But before you splurge on a fancy vehicle to write off on your taxes, you should be mindful of rules the IRS has in place regarding luxury autos. For new and pre-owned vehicles...
Your business is applying generally for credit and not for a specific credit product or amount. Any product/amount offered will depend on the credit and underwriting standards of the lender. Eligibility rules around creditworthiness and length of term loan apply. Eligibility for the lowest rates ...
Answer to: Many small business owners are [{Blank}] diversified with respect to their personal wealth. A) poorly B) highly C) well D) 90% By...
Small business owners often ask whether they can receive a tax refund for their business taxes. While individual taxpayers can receive refunds, the rules for businesses are a bit more complicated. In this article, we’ll explore the question of whether small businesses can get tax refunds, what...