March 1, 2019 -- Volume 18, No. 3
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Worker Classification Revisited
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The determination of whether a worker is an employee or an independent contractor has wide-ranging ramifications for both the company for which work is being performed and the person doing it. The matter of worker classification is ongoing because there is no single definition that can be relied upon. What’s more, the determination of worker classification may depend on where your company is located. Here’s what we know and what we need to know to avoid problems for our businesses.
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Unraveling Conflicting Tax Rules for Active versus Passive Business Owners
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It is commonly accepted wisdom that tax rules are complicated. This belief is well supported by the conflicting tax rules that apply to business owners, depending on their participation in the business. Let me try to make some sense of these conflicting rules.
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Supplement to J.K. Lasser's Small Business Taxes 2019
The tax law is not static. Since the publication of this book, the IRS has provided guidance on some of the changes for 2018 returns that were made by the Tax Cuts and Jobs Act of 2017 (TCJA). And there’s been additional legislation, court cases, and other IRS pronouncements that affect 2018 returns as well as planning for taxes in 2019.
For small business owners, it is important to take action based on what is known now, and to watch for any tax changes that may affect your business and personal taxes in the future. Pay attention to what is new and when it goes into effect.
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Supplement to J.K. Lasser's 1,001 Deductions & Tax Breaks 2019
This supplement outlines important changes and critical updates that have been made to the tax law and IRS guidelines since the October publication of the book,
including COLAs needed for 2019 estimated taxes.
Here are the key developments, some of which can apply to your 2018 return while others impact your 2019 withholding and estimated taxes.
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Home-Based Employees: A Work Arrangement that Can Work
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When the polar vortex shut down offices and various government activities (including postal delivery in some mid-West states in late January), it prompted some businesses to allow employees to work from home. If it worked during this bad weather, couldn’t it work just about any time? It’s clear that technology has enabled employees to work remotely. The question to answer is whether this is a good idea and, if so, how to make it work.
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Developing Leadership Qualities: Confidence, Courage, and Inspiration
Being a leader means displaying certain key qualities. This is the second in a series of posts on leadership qualities; it focuses on confidence, courage, and inspiration. As Napoleon said: “A leader is a dealer in hope.” It’s up to small business owners to inspire their staff to do great things.
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5 Ideas for Successful Business Meetings
According to Doodle
, a company providing scheduling software, business meetings are a waste of time. It’s projected that in 2019, this will cost businesses $399 billion. It surveyed 19 million business meetings in the U.S., U.K., and Germany. With that said, some business meetings are needed, but there are ways to make the necessary ones successful.
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COBRA and Mini-COBRA: What You Need to Know
If you have a group health plan in your company, you better know about a federal law called the Consolidated Omnibus Budget Reconciliation Act of 1985, or COBRA.
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Smart Speakers In Your Business
Maybe you have Alexa or other digital helper in your home. There are now many choices from Amazon, Apple, Google, and more.
PC Magazine listed
the best smart speakers for 2019. But have you considered whether such devices can be helpful in your business?
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Do You Need a Company Dating Policy?
Valentine’s Day is a time for romance. As actress/singer Pearl Bailey said: “What the world really needs is more love and less paperwork.” But in this era of the #MeToo movement, there is the potential for sexual harassment violations within a company. Can you or should you set a dating policy?
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J. K. Lasser's Small Business Taxes 2019
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Smooth Failing
This NEW Edition of my book available in paperback includes stories from many respected small business leaders you know!
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Review Your Workplace Safety Policies
The law and good business practices require employers to provide a workplace that’s free from safety and health hazards that are known (or should be known). The failure to do so can mean lost productivity and employee dissatisfaction as well as costly lawsuits and government penalties. How do your workplace safety policies measure up?
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The Alternative Minimum Tax Is No More. Here's the 'But'
Owners of C corporations will want to know
what to do with unused minimum tax credits.
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The Corporate Tax Rate Dropped. But You
Could Owe More Anyway
While the corporate tax rate fell to a flat 21 percent,
not everyone is happy.
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My Radio Interview via SBECouncil and ForbesBooks
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Tax Season is here! There are many new rules and some are very complicated. Small business owners and all individuals need to be aware of the tax law changes. We discuss many here in this interview.
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Good or Bad Year, Pass-Throughs Can't Escape
the New Tax Rules
Own a small business? It's time to get up to speed
on the new federal tax law's impact.
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New Limit on $1 Million Executive Pay Deductions Under the 2017 Tax Law
The rules on excessive compensation have changed,
and you may have more covered employees than last year.
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Own Real Estate? How to Know if You Get the 20 Percent Write-Off under the New Tax Law
When it comes to property, determining what constitutes
a trade or business isn't always easy.
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