We have been getting a lot of calls from clients asking if we can change there payroll to pay them overtime or tips so they can earn tax free income under the new tax law.
The short answer is no. Here is why the new rules on overtime and tips credits don’t help business owners
Leasing a car for your business can be a smart move both operationally and financially. By understanding the rules around tax deductions and keeping thorough records, you can reduce your tax burden while keeping your business on the move. Ready to hit the road? Just make sure your paperwork is as smooth as your ride!
To avoid criminal & civil penalties, businesses must file a report with the Financial Crimes Enforcement Network (FinCEN)
Businesses in New York must clearly state the higher credit card price of an item and limit their surcharge amounts after an updated law goes into effect.
Eligibility for overtime expanded to include more white-collar workers. Now more of your workers might be eligible for overtime pay.
In the last few years, we have had clients think they moved out of NYS or NYC and want to obtain the related tax savings. But the cost, time and effort of the audit was not pleasant.
