News Articles

01

May

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Avoiding Retirement Plan Compensation Errors

Avoiding Retirement Plan Compensation Errors The amount your company can contribute to your retirement plan and deduct for federal income-tax purposes generally depends on the amount of compensation you pay employees. Using an incorrect definition of compensation in your retirement plan can lead to costly operational failures that can affect your plan’s qualified status. To … Continued

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01

May

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Smart On-Site Logistics

Smart On-Site Logistics Efficient handling of materials — from delivery to unloading, storage, and on-site movement — is critical to a properly functioning construction site. There are also financial and safety benefits to having a well-thought-out materials handling program. A systematic approach to handling materials on a job site can reduce labor costs, help keep … Continued

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01

May

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IRS and Independent Contractor Misclassification

IRS and Independent Contractor Misclassification Companies that misclassify employees as independent contractors could have the IRS demanding unpaid payroll taxes. The IRS looks at three broad categories in determining whether a worker should be classified as an employee or an independent contractor. The categories are: Behavioral Control These are facts that illustrate whether a company … Continued

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01

May

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Smart Strategies for Reducing Payroll Taxes

Smart Strategies for Reducing Payroll Taxes Can employers reduce their payroll taxes without shedding employees? It may be possible if you implement certain strategies that can trim your tax burdens and boost your balance sheet. Tax-savings strategies Employers must pay Social Security, Medicare and federal unemployment taxes, as well as state unemployment tax in most … Continued

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01

May

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Make a 2013 IRA Contribution… Still

Make a 2013 IRA Contribution… Still Tax-advantaged retirement plans allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. But annual contributions are limited by tax law, and any unused limit can’t be carried forward to make larger contributions in future years. So it’s a good idea to use up … Continued

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