Shareholder employees in a corporation must receive reasonable compensation according to the IRS. This means that their compensation can be adjusted if it is too high or too low. While there is no firm set of rules to measure the reasonableness of compensation, there are some regulations in place...Read More
The difference between entrepreneurs who struggle and those who build an empire is who is able to find the most efficient way to run the business. Business owners who learn to delegate tasks, harness the power of technology, and set clear and feasible goals often work their way to the top. Use th...Read More
With all the recent changes to online shopping, the accountants at Steven J. Wick want everyone to understand the new sales tax laws and how it can affect you come tax time.
When online retailers choose to not charge sales tax, they are now required to send customers a notice stating the amount o...Read More
Employees who telecommute for work may be eligible to deduct some of their home office expenses on their taxes. Now while this does apply for many telecommuters, it is important to go through these 3 rules to make sure you qualify for home office deductions. If you are ever unsure about your tax ...Read More
One of the best ways for small business owners to recruit and keep loyal employees is to offer a retirement plan. Not only are retirement plans a great way to reward employees, it can also result in some nice tax incentives for small business owners. When it comes to making financial decisions fo...Read More
Tax season is coming to a close, and the last couple of months have seen business owners of all types rushing to gather the required financial information for their returns. Many people choose to file their taxes on their own, using a website or online form, and while this may work for some, it d...Read More