Archive for the ‘Small Business Tips & Tricks’ Category

More and more individuals are working as freelancers and independent contractors these days—and the IRS is not particularly happy with that.

The problem is that it is sometimes difficult to determine whether an individual is an employee or an independent contractor—and this can lead to disputes with the IRS. Regardless of what label you put on a relationship, the key issue as far as taxes are concerned is control—the more control a company has over the work, the greater the chance the worker should be classified as an employee instead of an independent contractor. Read the rest of this article »

The IRS is working hard to find lost revenue.  Non-reported or under reported income by restaurant workers is under scrutiny. Restaurants owners have the critical tasks of keeping records on tips received and compelling employees to report tips.

All employees receiving $20.00 or more a month in tips must report 100% of their tips to their employer and are required to pay taxes on all their wages including tips. Read the rest of this article »

Stay on top your bookkeeping and you'll stay on top your busineess.

Whether you’re a one-person operation or a Fortune 500 company, bookkeeping is a significant part of your business.

It may not one of the more glamorous jobs, but bookkeeping is part and parcel of a company’s success. Mistakes and inefficiencies can cost a company both time and money.

Outlined below are 10 of the most common mistakes made by small businesses. Read the rest of this article »

There are many good reasons to have an employee handbook.

It is a lot of work to put one together, right?  Not as much as you think and having one can be a life saver for your business.  Having a written policy can be the determining factor in an employment dispute from an unemployment claim to a lawsuit. Read the rest of this article »