There's Still Time To Setup a SEP for 2016
Simplified Employee Pensions (SEPs) are stripped-down retirement plans intended for self-employed individuals and small businesses. If you don't already have a tax-favored retirement plan set up for your business, consider establishing a SEP-plus, if you act quickly enough, you can claim a deduction for your initial SEP contribution on your 2016 tax return. Click here for full article.
Consider Section 179 Deductions for Real Estate Expenses
The Section 179 deduction for qualified real property expenses was made permanent under the Protecting Americans from Tax Hikes (PATH) Act of 2015. However, claiming this deduction isn't a no-brainer. Here are the pros and cons. Click here for full article.
How Wage-Hour Laws Create Risks
Federal investigators with the Labor Department's Wage and Hour Division (WHD) routinely look for companies and organizations with illegal pay practices. The WHD enforces the federal minimum wage, overtime pay, record-keeping, child labor and other requirements of the Fair Labor Standards Act. When investigators uncover violations, employers must pay back wages, as well as penalties. Click here for full article.