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Small business owners can receive a full deductible on their tax returns for health insurance premiums paid for employees or shareholders as opposed to having those premiums eliminated or limited as an itemized deduction. This can result in major income tax savings of up to 40% of premiums paid. However, it should be noted that

You just hired your first set of employees and have finally finished setting up your payroll. Given these are full-time employees, they are also entitled benefits. The benefits you have decided to offer your employees are retirement and healthcare. Now comes the hard question – how do you track them? This could get tricky, especially

Why Even Small Businesses Must Worry About Cyber Attacks Everyone remembers the effect that security breaches have had on large corporations like Target and Home Depot. However, most small business owners don’t consider the potential impact that a security breach could have on them. Reports of small legal offices and online retailers being hacked has

Although many small business owners are aware of the repercussions of not properly defining their employees – exempt or non-exempt; salaried or hourly; some small business owners still runs into problems come tax time. By not properly defining your employees\’ statuses, businesses owners can face hefty fines and penalties even if the error was completely