by Steven J Weil, PhD, EA, LCAM | Jun 27, 2023 | Uncategorized
What is reasonable compensation for corporate officers and why is it important? The tax laws require officers of corporations to receive “reasonable compensation, as corporate officers such as presidents, treasurers, CEOs and COO as by law employees of the...
by Steven J Weil, PhD, EA, LCAM | Jun 13, 2023 | Blog, Payroll Preparation
Can employers refuse to pay employees for unauthorized overtime? I was recently asked by a client if he had to pay overtime to hourly employees who had ignored the company policy that all overtime must be approved in advance. He explained that he had told two of his...
by Steven J Weil, PhD, EA, LCAM | Jun 13, 2023 | Blog, Payroll Preparation
Do you know the minimum wage for your state? The current Florida Minimum wage is $11.00 per hour and it increases to $12.00 per hour on September 30,2023. The Federal minimum wage is currently $7.25 and employers must pay the greater of either the state or federal...
by Steven J Weil, PhD, EA, LCAM | Jun 10, 2023 | Blog, Business Tax, Personal Tax
Lowering your taxes is a lot like eating an elephant, it’s done in lots of small bites. What you can do depends on how much income you have and the sources of that income. If you are an employee on a W2 and your employer offers a retirement plan like a 401K or a...
by Steven J Weil, PhD, EA, LCAM | Jun 8, 2023 | Blog, Business Tax
These new reporting requirements are for business entities including Corporations, Limited Liability Companies, Limited Liability Partnerships. These entities will now have to file a report listing their Beneficial Owners and Applicants to FinCEN (Financial Crimes...
