By following specific rules of the Internal Revenue Service, corporations may provide tax-free reimbursements to employees—including officer shareholders. The reimbursements must cover actual expenses incurred by an employee while conducting business services for the employer.
Not all the taxes that you remit for payroll are actually the payroll tax expense for your business. Some of the payroll taxes you remit are withheld from employee pay.
Under the Hiring Incentives to Restore Employment (HIRE) Act, enacted March 18, 2010, two new tax benefits are available to employers who hire certain previously unemployed workers (“qualified employees”).
The Internal Revenue Service continues to urge thousands of 501(c)(3) charitable organizations that missed last month’s tax deadline to file their paperwork as soon as possible.
When the earthquake in Haiti was reported, Peter Groverman, a 27-year-old Villanova Law Student, received a text message that sparked a humanitarian mission. He told Philly.com the message from a friend read, “Are we going to Haiti?” He instantly knew he not only want to go to Haiti, but he wanted to form a nonprofit […]