News Articles

09

July

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Employee vs Independent Contractor

Employee vs Independent Contractor An employer enjoys several advantages when it classifies a worker as an independent contractor rather than as an employee. For example, it isn’t required to pay payroll taxes, withhold taxes, pay benefits or comply with most wage and hour laws. However, there’s a potential downside: If the IRS determines that you’ve … Continued

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17

June

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Consider the Sec. 83(b) election to save tax on restricted stock awards

Consider the Sec. 83(b) election to save tax on restricted stock awards Restricted stock is stock that’s granted subject to a substantial risk of forfeiture. Income recognition is normally deferred until the stock is no longer subject to that risk or you sell it. You then pay taxes on the stock’s fair market value at … Continued

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01

May

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High-Stakes Policy Decisions Loom in 2013

High-Stakes Policy Decisions Loom in 2013 by Eugene A. Lugwig January 31, 2013 Published in American Banker An enormous number of new rules are slated to be finalized a result of Dodd-Frank, Basel III and other regulatory initiatives. The result will be the largest augmentation of the banking rulebook in history. Yet how these rules … Continued

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01

May

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Handle Shareholder Loans with Caution

Handle Shareholder Loans with Caution If you’re a shareholder in a closely held C corporation, you are permitted to take loans or advances from the company. It’s convenient and, typically, as a shareholder, you won’t have to pay taxes on the proceeds. What’s not to like about this opportunity? Clearly, it’s a convenient benefit. Still, … Continued

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01

May

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Strategies To Maximize Your Bonding Capacity

Strategies To Maximize Your Bonding Capacity What would your surety find if it reviewed your firm’s financial statements today? The reality is that what your surety finds on the financial statements will determine whether you receive bonding and the amount you will be charged. Your fiscal year-end statements generally will form the basis for your … Continued

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