Top 6 Tax Benefits Of An S Corp And LLC


Limited liability companies (LLC) and S corporations (S corp) may be structured differently but when it comes to tax benefits, they’re treated almost the same—and they pay significantly reduced personal tax rates as opposed to corporate taxes. Following are the different tax benefits available to both the LLC and S Corp: Tax rate differential Although the regulations governing tax rates and taxation frequently change in the US, the personal tax […]

Employers Benefits Responsibilities


– Unemployment insurance. Companies must provide unemployment insurance. Employers pay for all of it, the employee does not pay for it, yet they can claim these benefits if they lose their job. – Workers compensation. Companies must provide workman’s comp. This includes disability income, medical benefits and time off. The employer pays for all of it, the employee does not pay for it. – Pregnancy disability leave. For companies with […]

Do I Need A Tax Lawyer?


Before hiring a tax lawyer, find out exactly what you need your lawyer to do. You could be facing an IRS tax debt issue, you could require estate planning help or you have business and employment tax issues. There are specialists who work in each of this fields almost exclusively. Make sure that your lawyer is certified and that they have experience in dealing with the IRS. Finally, have realistic […]

Why Incorporate?


Opening your own business is risky. If your business fails it could lead to a complete personal financial meltdown. When you incorporate it reduces your risk and personal liability. But there are other advantages. Among them include tax advantages, anonymity and easier access to capital. Here is why your personal liability is limited. If the business incurs a loss, your personal assets are protected. Your business can file for bankruptcy […]

Wage And Hour Laws


The primary Federal law governing wages, hours and overtime, the Fair Labor Standards Act (“FLSA”), 29 U.S.C. § 201, et seq., was originally enacted in 1938. This law is enforced by the Wage and Hour Division of the Department of Labor. Most employers see no reason to even think about this law if the pay their employees more than the widely known minimum wage. In fact, problems involving violations of […]

Whistleblower Protection Act


It was not until 1986 when a law protecting whistleblowers is made. Congress added an anti-retaliation protection to the then existing False Claims Act. A whistleblower is a person who tells on something he believes is an illegal act. The employees are the most commonly known whistleblower. They tell on their employers which they suspect is doing or committing an illegal act. Under the Whistleblower Protection Law, the employee should […]